D. E. Shaw & Co. Inc. Lowers Position in Plains GP Holdings, L.P. (NYSE:PAGP)

D. E. Shaw & Co. Inc. reduced its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 43.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,382 shares of the pipeline company's stock after selling 116,021 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.08% of Plains GP worth $2,819,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PAGP. Jones Financial Companies Lllp grew its stake in shares of Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after buying an additional 520 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Plains GP in the fourth quarter valued at $33,000. Allworth Financial LP bought a new position in shares of Plains GP in the fourth quarter valued at $44,000. Farther Finance Advisors LLC grew its stake in shares of Plains GP by 8,120.7% in the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after buying an additional 2,355 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its stake in shares of 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 buying an additional 4,000 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

Shares of PAGP stock traded up $0.10 on Friday, hitting $17.81. 1,268,685 shares of the stock were exchanged, compared to its average volume of 1,534,616. 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 firm has a market capitalization of $3.52 billion, a PE ratio of 33.60 and a beta of 0.68. Plains GP Holdings, L.P. has a one year low of $16.61 and a one year high of $22.31. The firm's 50 day moving average is $19.05 and its two-hundred day moving average is $19.70.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $0.38 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.53%. Plains GP's dividend payout ratio is currently 205.41%.

Analyst Ratings Changes

PAGP has been the subject of several analyst reports. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Raymond James lifted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 28th. Citigroup reduced their price objective on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley lifted their price objective on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Mizuho reduced their price objective on shares of Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.71.

About Plains GP

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.