Simplify Asset Management Inc. Reduces Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Simplify Asset Management Inc. lessened its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,272,360 shares of the pipeline company's stock after selling 100,000 shares during the period. Plains GP comprises approximately 1.1% of Simplify Asset Management Inc.'s holdings, making the stock its 14th biggest position. Simplify Asset Management Inc. owned approximately 0.65% of Plains GP worth $23,539,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PAGP. Tortoise Capital Advisors L.L.C. raised 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 worth $219,572,000 after acquiring an additional 703,158 shares during the period. Westwood Holdings Group Inc. raised its stake in Plains GP by 13.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,280,460 shares of the pipeline company's stock worth $96,368,000 after acquiring an additional 634,929 shares during the period. Acadian Asset Management LLC bought a new stake in Plains GP during the 2nd quarter worth approximately $11,442,000. SIR Capital Management L.P. bought a new stake in Plains GP during the 2nd quarter worth approximately $8,849,000. Finally, Bahl & Gaynor Inc. raised its stake in Plains GP by 82.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company's stock worth $16,817,000 after acquiring an additional 417,031 shares during the period. Institutional investors own 88.30% of the company's stock.

Plains GP Trading Up 0.1 %

Shares of NYSE:PAGP traded up $0.02 on Friday, hitting $18.23. 1,308,313 shares of the company's stock were exchanged, compared to its average volume of 1,751,066. Plains GP Holdings, L.P. has a 12 month low of $14.93 and a 12 month high of $20.10. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 21.53 and a beta of 1.54. The business's 50 day simple moving average is $18.44 and its two-hundred day simple moving average is $18.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.90.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 payout ratio is currently 149.41%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PAGP shares. Morgan Stanley lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $22.00 to $19.00 in a report 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 raised shares of Plains GP to a "hold" rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $19.88.

Plains GP 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.