Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by D. E. Shaw & Co. Inc.

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

Several other large investors also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. grew its holdings in Plains GP by 8.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock valued at $229,989,000 after purchasing an additional 927,855 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Plains GP by 11.7% in the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after purchasing an additional 646,130 shares during the last quarter. Vanguard Group Inc. grew its holdings in Plains GP by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after purchasing an additional 288,430 shares during the last quarter. Invesco Ltd. grew its holdings in Plains GP by 0.9% in the fourth quarter. Invesco Ltd. now owns 2,932,295 shares of the pipeline company's stock valued at $53,896,000 after purchasing an additional 27,148 shares during the last quarter. Finally, Advisors Capital Management LLC grew its holdings in Plains GP by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 2,403,410 shares of the pipeline company's stock valued at $44,175,000 after purchasing an additional 53,273 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PAGP. StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a research note on Friday. Morgan Stanley increased their price objective on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 25th. 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 research note on Tuesday, January 28th. Barclays decreased their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Finally, Citigroup decreased their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Plains GP presently has a consensus rating of "Hold" and an average price target of $20.83.

Plains GP Stock Performance

NYSE PAGP opened at $18.15 on Tuesday. The business's 50-day moving average price is $19.31 and its 200 day moving average price is $19.71. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31. The company has a market capitalization of $3.59 billion, a PE ratio of 34.25 and a beta of 0.68. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.37%. Plains GP's dividend payout ratio (DPR) is presently 205.41%.

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.

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