Kayne Anderson Capital Advisors LP Sells 681,194 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Kayne Anderson Capital Advisors LP decreased its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 28.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,690,659 shares of the pipeline company's stock after selling 681,194 shares during the period. Plains GP accounts for about 0.8% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 21st largest holding. Kayne Anderson Capital Advisors LP owned 0.86% of Plains GP worth $31,277,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cetera Investment Advisers boosted its position in shares of Plains GP by 644.7% in the first quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company's stock valued at $2,828,000 after acquiring an additional 134,153 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Plains GP during the 1st quarter worth approximately $1,669,000. Bahl & Gaynor Inc. increased its holdings in shares of Plains GP by 82.7% during the first quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company's stock worth $16,817,000 after purchasing an additional 417,031 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Plains GP in the second quarter valued at approximately $566,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Plains GP by 1.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company's stock valued at $80,900,000 after buying an additional 53,000 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Plains GP Trading Up 1.5 %

Shares of PAGP stock traded up $0.28 during trading hours on Monday, hitting $18.51. 957,752 shares of the company were exchanged, compared to its average volume of 1,747,508. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.01. Plains GP Holdings, L.P. has a fifty-two week low of $14.93 and a fifty-two week high of $20.10. The company has a 50 day simple moving average of $18.43 and a two-hundred day simple moving average of $18.57. The firm has a market cap of $3.66 billion, a P/E ratio of 21.78 and a beta of 1.54.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date was Thursday, October 31st. Plains GP's payout ratio is 149.41%.

About Plains GP

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.