ING Groep NV Sells 78,000 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

ING Groep NV decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 25.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 232,000 shares of the pipeline company's stock after selling 78,000 shares during the quarter. ING Groep NV owned 0.12% of Plains GP worth $4,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SL Advisors LLC lifted its stake in Plains GP by 3.3% during the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company's stock valued at $394,000 after acquiring an additional 679 shares during the period. NewEdge Advisors LLC lifted its position in Plains GP by 0.9% during the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company's stock valued at $1,407,000 after purchasing an additional 681 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Plains GP by 1.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company's stock worth $720,000 after purchasing an additional 717 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Plains GP by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company's stock worth $319,000 after purchasing an additional 755 shares during the period. Finally, Hexagon Capital Partners LLC grew its position in Plains GP by 22.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company's stock worth $87,000 after purchasing an additional 833 shares during the period. Institutional investors own 88.30% of the company's stock.

Plains GP Price Performance

PAGP stock traded up $0.02 during midday trading on Friday, hitting $18.23. The company's stock had a trading volume of 1,308,318 shares, compared to its average volume of 1,751,066. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12 month low of $14.93 and a 12 month high of $20.10. The company has a 50 day moving average of $18.43 and a two-hundred day moving average of $18.55. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 21.45 and a beta of 1.54.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. Plains GP's dividend payout ratio (DPR) is 149.41%.

Wall Street Analyst Weigh In

PAGP has been the subject of a number of recent research reports. Morgan Stanley downgraded Plains GP from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Finally, Wolfe Research upgraded shares of Plains GP to a "hold" rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Plains GP currently has a consensus rating of "Hold" and a consensus target price of $19.88.

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.