Teacher Retirement System of Texas reduced its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,666 shares of the pipeline company's stock after selling 15,781 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of Plains GP worth $3,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. Jones Financial Companies Lllp increased its position in Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after buying an additional 520 shares during the last quarter. Farther Finance Advisors LLC increased its position in 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 worth $44,000 after buying an additional 2,355 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in 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 worth $81,000 after buying an additional 4,000 shares during the last quarter. Atala Financial Inc purchased a new stake in Plains GP in the fourth quarter worth $90,000. Finally, Golden State Wealth Management LLC increased its position in Plains GP by 233.1% in the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock worth $128,000 after buying an additional 4,195 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on PAGP. Barclays decreased their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. 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 report on Wednesday, June 18th. Morgan Stanley lifted their price target on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. Citigroup reduced their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Mizuho lifted their price target on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Plains GP presently has an average rating of "Hold" and an average target price of $20.88.
View Our Latest Analysis on Plains GP
Plains GP Price Performance
NYSE:PAGP traded up $0.15 during trading hours on Friday, hitting $19.80. 887,293 shares of the company's stock traded hands, compared to its average volume of 1,600,557. The firm has a market cap of $3.92 billion, a P/E ratio of 37.36 and a beta of 0.65. Plains GP Holdings, L.P. has a 52 week low of $16.61 and a 52 week high of $22.31. The business's fifty day simple moving average is $18.68 and its two-hundred day simple moving average is $19.70. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.
Plains GP Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.68%. The ex-dividend date is Thursday, July 31st. Plains GP's dividend payout ratio is 205.41%.
Plains GP Company Profile
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Free Report)
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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