BNP Paribas Financial Markets Has $24.31 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

BNP Paribas Financial Markets grew its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,313,974 shares of the pipeline company's stock after buying an additional 103,353 shares during the period. BNP Paribas Financial Markets owned 0.67% of Plains GP worth $24,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PAGP. Tortoise Capital Advisors L.L.C. increased its position in shares of 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 purchasing an additional 703,158 shares during the period. Chickasaw Capital Management LLC grew its position in Plains GP by 3.6% in the second quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company's stock worth $124,496,000 after buying an additional 232,644 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Plains GP by 2.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company's stock valued at $101,507,000 after acquiring an additional 113,098 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Plains GP by 1.2% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company's stock worth $80,900,000 after acquiring an additional 53,000 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in Plains GP by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company's stock worth $34,294,000 after buying an additional 279,100 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Plains GP Price Performance

Shares of NYSE PAGP traded up $0.55 during mid-day trading on Friday, hitting $20.02. 2,314,533 shares of the stock were exchanged, compared to its average volume of 1,735,009. The company has a market cap of $3.95 billion, a P/E ratio of 23.55 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10. The stock's fifty day simple moving average is $18.51 and its two-hundred day simple moving average is $18.62.

Plains GP Dividend Announcement

The business 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. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.34%. Plains GP's payout ratio is 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.