Two Sigma Investments LP Sells 17,442 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Two Sigma Investments LP lessened its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,779,281 shares of the pipeline company's stock after selling 17,442 shares during the quarter. Two Sigma Investments LP owned approximately 1.41% of Plains GP worth $51,083,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its stake 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 valued at $25,000 after purchasing an additional 520 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Plains GP in the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC grew its stake 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 valued at $44,000 after purchasing an additional 2,355 shares in the last quarter. Allworth Financial LP bought a new position in Plains GP in the fourth quarter valued at approximately $44,000. Finally, Mark Sheptoff Financial Planning LLC grew its stake 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 valued at $81,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Raymond James raised their price target 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. Citigroup reduced their target price on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Morgan Stanley lifted their target price on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 25th. Finally, Mizuho reduced their target price on Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.71.

Plains GP Stock Performance

PAGP traded down $0.05 during trading on Thursday, hitting $17.71. The stock had a trading volume of 1,442,361 shares, compared to its average volume of 1,529,371. The company has a 50 day moving average price of $19.19 and a 200-day moving average price of $19.69. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 33.42 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 company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.58%. Plains GP's dividend payout ratio (DPR) is presently 205.41%.

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.