Amundi Has $1.58 Million Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Amundi reduced its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 34.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,446 shares of the pipeline company's stock after selling 42,473 shares during the quarter. Amundi's holdings in Plains GP were worth $1,583,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after purchasing an additional 520 shares in the last quarter. US Bancorp DE raised its position in Plains GP by 0.7% in the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company's stock valued at $1,597,000 after buying an additional 598 shares during the last quarter. Continuum Advisory LLC lifted its stake in Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock valued at $127,000 after acquiring an additional 637 shares in the last quarter. Townsquare Capital LLC lifted its stake in Plains GP by 1.2% in the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company's stock valued at $1,110,000 after acquiring an additional 729 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company's stock worth $471,000 after purchasing an additional 748 shares during the period. Institutional investors own 88.30% of the company's stock.

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Plains GP Price Performance

Shares of NYSE:PAGP traded down $0.22 during midday trading on Friday, hitting $21.34. The stock had a trading volume of 846,766 shares, compared to its average volume of 1,500,614. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $4.22 billion, a P/E ratio of 40.26 and a beta of 1.55. The company's 50-day moving average price is $21.20 and its 200-day moving average price is $19.55. Plains GP Holdings, L.P. has a fifty-two week low of $17.17 and a fifty-two week high of $22.31.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.12%. This is a boost from Plains GP's previous quarterly dividend of $0.32. Plains GP's payout ratio is 286.79%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PAGP. Barclays increased their price objective on shares of Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Wells Fargo & Company cut Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Raymond James boosted their price target on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.60.

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.