Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 216,900 Plains GP Holdings, L.P. (NYSE:PAGP)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 216,900 shares of the pipeline company's stock, valued at approximately $4,013,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.11% of Plains GP as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Thompson Siegel & Walmsley LLC bought a new position in shares of Plains GP during the third quarter valued at $13,848,000. Tortoise Capital Advisors L.L.C. lifted its stake in Plains GP by 6.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company's stock valued at $219,572,000 after acquiring an additional 703,158 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Plains GP in the second quarter worth approximately $11,442,000. SIR Capital Management L.P. purchased a new position in shares of Plains GP during the second quarter valued at approximately $8,849,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Plains GP during the second quarter valued at approximately $5,734,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PAGP shares. StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Wolfe Research raised Plains GP to a "hold" rating in a report on Wednesday, September 18th. Finally, Morgan Stanley lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Plains GP presently has an average rating of "Hold" and an average target price of $19.88.

Plains GP Stock Performance

NYSE PAGP traded up $0.55 on Friday, reaching $20.02. 2,314,533 shares of the stock were exchanged, compared to its average volume of 1,602,395. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a one year low of $14.93 and a one year high of $20.10. The firm has a market capitalization of $3.95 billion, a PE ratio of 23.55 and a beta of 1.54. The company's 50-day simple moving average is $18.51 and its two-hundred day simple moving average is $18.62.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 6.34%. Plains GP's payout ratio is presently 149.41%.

Plains GP Company Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.