MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,170,841 shares of the pipeline company's stock after selling 204,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.10% of Plains GP worth $39,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAGP. Jones Financial Companies Lllp boosted its stake in shares of Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after acquiring an additional 520 shares in the last quarter. US Bancorp DE increased its stake in shares of Plains GP by 0.7% in the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company's stock valued at $1,597,000 after purchasing an additional 598 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Plains GP by 3.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company's stock valued at $471,000 after purchasing an additional 748 shares in the last quarter. ELCO Management Co. LLC increased its stake in shares of Plains GP by 2.4% in the 4th quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock valued at $624,000 after purchasing an additional 802 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Plains GP by 1.2% in the 4th quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company's stock valued at $1,434,000 after purchasing an additional 953 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAGP has been the subject of several recent analyst reports. Citigroup cut their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday. Barclays cut their target price on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Raymond James boosted their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Morgan Stanley boosted their target price on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $20.83.

Plains GP Price Performance

NYSE PAGP traded down $0.03 during trading hours on Friday, hitting $18.41. 1,040,523 shares of the company's stock traded hands, compared to its average volume of 1,534,495. Plains GP Holdings, L.P. has a 52-week low of $16.61 and a 52-week high of $22.31. The company has a market capitalization of $3.64 billion, a PE ratio of 34.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm's 50-day moving average is $19.37 and its 200-day moving average is $19.68.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid 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 8.26%. Plains GP's dividend payout ratio 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.