APG Asset Management N.V. lowered its holdings in shares of Plains GP Holdings LP (NYSE:PAGP) by 49.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 63,764 shares of the pipeline company’s stock after selling 63,300 shares during the period. APG Asset Management N.V.’s holdings in Plains GP were worth $1,166,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. grew its holdings in Plains GP by 9.4% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,636,798 shares of the pipeline company’s stock worth $167,017,000 after purchasing an additional 653,301 shares during the period. Atlantic Trust Group LLC grew its holdings in Plains GP by 32.0% during the third quarter. Atlantic Trust Group LLC now owns 2,935,457 shares of the pipeline company’s stock worth $64,199,000 after purchasing an additional 711,518 shares during the period. State Street Corp grew its holdings in Plains GP by 4.7% during the second quarter. State Street Corp now owns 1,729,564 shares of the pipeline company’s stock worth $45,249,000 after purchasing an additional 77,866 shares during the period. Marathon Asset Management LP bought a new position in Plains GP during the third quarter worth about $25,254,000. Finally, Global X MANAGEMENT CO LLC grew its holdings in Plains GP by 41.8% during the third quarter. Global X MANAGEMENT CO LLC now owns 667,107 shares of the pipeline company’s stock worth $14,590,000 after purchasing an additional 196,730 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.
Shares of Plains GP Holdings LP (NYSE:PAGP) opened at $21.24 on Friday. Plains GP Holdings LP has a 1-year low of $18.98 and a 1-year high of $33.66. The stock has a market capitalization of $6,130.00, a P/E ratio of -4.58 and a beta of 1.42. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 0.84.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Tuesday, January 30th. Plains GP’s dividend payout ratio (DPR) is currently -25.86%.
A number of equities analysts recently commented on PAGP shares. Barclays reiterated a “buy” rating and set a $26.00 price target on shares of Plains GP in a report on Thursday, October 19th. Zacks Investment Research upgraded Plains GP from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 24th. Bank of America reduced their price target on Plains GP from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday. Robert W. Baird set a $20.00 price target on Plains GP and gave the stock a “hold” rating in a report on Thursday, October 12th. Finally, Mizuho reiterated a “buy” rating and set a $27.00 price target on shares of Plains GP in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Plains GP presently has an average rating of “Hold” and a consensus target price of $25.88.
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About Plains GP
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.
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