Massachusetts Financial Services Co. MA Sells 34,937 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Massachusetts Financial Services Co. MA trimmed its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,948,431 shares of the pipeline company's stock after selling 34,937 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 5.04% of Plains GP worth $182,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PAGP. Jones Financial Companies Lllp grew its position in Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after acquiring an additional 520 shares in the last quarter. US Bancorp DE lifted its stake in shares of 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 purchasing an additional 598 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Plains GP by 10.0% in the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock worth $127,000 after purchasing an additional 637 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position 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 buying an additional 748 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC raised its holdings in Plains GP by 1.7% during the third quarter. Drucker Wealth 3.0 LLC now owns 59,110 shares of the pipeline company's stock valued at $1,094,000 after buying an additional 970 shares in the last quarter. Institutional investors own 88.30% of the company's stock.

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Plains GP Price Performance

NYSE:PAGP traded down $0.94 during trading hours on Monday, reaching $17.72. The company had a trading volume of 3,642,728 shares, compared to its average volume of 1,584,839. The firm has a market capitalization of $3.50 billion, a PE ratio of 33.43 and a beta of 1.11. The stock has a 50-day moving average of $21.19 and a two-hundred day moving average of $19.75. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.58%. The ex-dividend date of this dividend is Thursday, May 1st. Plains GP's dividend payout ratio is currently 286.79%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James increased their price objective on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 28th. Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Friday, January 10th. StockNews.com cut shares of Plains GP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Morgan Stanley raised their price target on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Barclays increased their price target on shares of Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $21.00.

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.