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

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

A number of other large investors have also made changes to their positions in PAGP. Jones Financial Companies Lllp raised 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 purchasing an additional 520 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Plains GP in the fourth quarter worth about $33,000. Farther Finance Advisors LLC raised 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 purchasing an additional 2,355 shares in the last quarter. Allworth Financial LP acquired a new position in Plains GP in the fourth quarter worth about $44,000. Finally, Mark Sheptoff Financial Planning LLC raised 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 purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Price Performance

Shares of NYSE PAGP traded up $0.10 during mid-day trading on Friday, hitting $17.81. 1,268,685 shares of the stock were exchanged, compared to its average volume of 1,534,616. 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 debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock's fifty day simple moving average is $19.05 and its two-hundred day simple moving average is $19.70. The company has a market cap of $3.52 billion, a P/E ratio of 33.60 and a beta of 0.68.

Plains GP Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Morgan Stanley increased their price target 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. Raymond James raised their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Barclays dropped their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Finally, Citigroup dropped their price objective on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Plains GP currently has a consensus rating of "Moderate Buy" and an average price target of $20.71.

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.