Two Sigma Advisers LP Grows Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Two Sigma Advisers LP raised its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,004,900 shares of the pipeline company's stock after buying an additional 19,900 shares during the period. Two Sigma Advisers LP owned about 2.03% of Plains GP worth $73,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PAGP. Ellsworth Advisors LLC bought a new position in Plains GP in the fourth quarter valued at $706,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Plains GP by 114.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 370,496 shares of the pipeline company's stock worth $6,810,000 after purchasing an additional 198,000 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Plains GP during the 4th quarter valued at about $308,000. Janney Montgomery Scott LLC purchased a new position in shares of Plains GP during the 4th quarter valued at about $676,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Plains GP by 27.0% during the 4th quarter. Pacer Advisors Inc. now owns 99,510 shares of the pipeline company's stock valued at $1,829,000 after buying an additional 21,184 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Wall Street Analyst Weigh In

PAGP has been the topic of a number of recent research reports. Raymond James increased their price target on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. Citigroup reduced their target price 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. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday. Morgan Stanley upped their price target on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. Finally, Barclays decreased their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Plains GP currently has a consensus rating of "Hold" and an average target price of $20.83.

Plains GP Trading Down 1.4%

NYSE:PAGP opened at $18.15 on Tuesday. The firm has a market capitalization of $3.59 billion, a P/E ratio of 34.25 and a beta of 0.68. 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 company has a fifty day moving average of $19.31 and a 200 day moving average of $19.71. Plains GP Holdings, L.P. has a 52 week low of $16.61 and a 52 week high of $22.31.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date was Thursday, May 1st. Plains GP's payout ratio is 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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