Massachusetts Financial Services Co. MA Has $210.84 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Massachusetts Financial Services Co. MA cut its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,870,594 shares of the pipeline company's stock after selling 77,837 shares during the quarter. Massachusetts Financial Services Co. MA owned about 4.99% of Plains GP worth $210,836,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in Plains GP by 61.7% in 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. Raymond James Financial Inc. bought a new position in shares of Plains GP during the fourth quarter worth approximately $5,214,000. Farther Finance Advisors LLC increased its holdings in shares of Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after purchasing an additional 2,355 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Plains GP by 17.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 40,124 shares of the pipeline company's stock valued at $737,000 after buying an additional 5,949 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Plains GP by 0.8% in the fourth quarter. Swiss National Bank now owns 387,934 shares of the pipeline company's stock valued at $7,130,000 after buying an additional 2,900 shares during the period. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Trading Up 1.5%

PAGP traded up $0.30 during midday trading on Friday, hitting $20.01. 1,933,338 shares of the company were exchanged, compared to its average volume of 1,608,526. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-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. The firm has a market capitalization of $3.96 billion, a P/E ratio of 37.76 and a beta of 0.65. The firm's 50 day moving average price is $18.88 and its 200-day moving average price is $19.75.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.60%. The ex-dividend date is Thursday, July 31st. Plains GP's dividend payout ratio (DPR) is presently 205.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays dropped their target price on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Citigroup decreased their price target on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Mizuho increased their price objective on shares of Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Morgan Stanley upped their target price on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. lifted their price target on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $20.88.

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.