Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 13.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 197,577 shares of the pipeline company's stock after selling 30,056 shares during the period. Legal & General Group Plc owned 0.10% of Plains GP worth $3,631,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in Plains GP by 61.7% during the fourth 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. Golden State Wealth Management LLC purchased a new position in shares of Plains GP in the 4th quarter valued at $33,000. Allworth Financial LP acquired a new stake in Plains GP during the 4th quarter worth $44,000. Farther Finance Advisors LLC raised its stake in Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Plains GP by 1,000.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock valued at $81,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on PAGP. Barclays cut their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. 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. Morgan Stanley lifted their target price on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. Finally, Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.83.

Plains GP Trading Up 2.3 %

NYSE:PAGP opened at $18.86 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock's 50 day simple moving average is $20.34 and its 200-day simple moving average is $19.68. Plains GP Holdings, L.P. has a 12-month low of $16.61 and a 12-month high of $22.31. The firm has a market cap of $3.73 billion, a P/E ratio of 35.59 and a beta of 1.11.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.06%. Plains GP's payout ratio is currently 286.79%.

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.

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