Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 691,610 shares of the pipeline company's stock after selling 138,060 shares during the quarter. Victory Capital Management Inc. owned 0.35% of Plains GP worth $12,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Entropy Technologies LP boosted its position in shares of Plains GP by 29.9% in the third quarter. Entropy Technologies LP now owns 48,052 shares of the pipeline company's stock worth $889,000 after acquiring an additional 11,073 shares during the last quarter. Linscomb Wealth Inc. boosted its stake in shares of Plains GP by 19.4% during the 3rd quarter. Linscomb Wealth Inc. now owns 313,100 shares of the pipeline company's stock valued at $5,792,000 after buying an additional 50,859 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Plains GP during the 3rd quarter worth $13,848,000. Algert Global LLC grew its position in shares of Plains GP by 128.6% in the 3rd quarter. Algert Global LLC now owns 87,659 shares of the pipeline company's stock worth $1,622,000 after acquiring an additional 49,320 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new stake in shares of Plains GP during the third quarter worth $353,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

PAGP has been the subject of a number of recent analyst reports. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a report on Friday, January 10th. Barclays boosted 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. StockNews.com cut 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 stock a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.60.

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Plains GP Price Performance

Shares of PAGP traded down $0.26 during mid-day trading on Thursday, reaching $20.74. The company had a trading volume of 743,390 shares, compared to its average volume of 1,511,694. Plains GP Holdings, L.P. has a 1-year low of $17.17 and a 1-year high of $22.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 39.13 and a beta of 1.55. The company's 50 day simple moving average is $20.94 and its 200 day simple moving average is $19.46.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.33%. This is an increase from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend payout ratio (DPR) is currently 286.79%.

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.