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

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,170,841 shares of the pipeline company's stock after selling 204,377 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.10% of Plains GP worth $39,900,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PAGP. Eagle Global Advisors LLC increased its holdings in Plains GP by 27.9% in the fourth quarter. Eagle Global Advisors LLC now owns 1,183,317 shares of the pipeline company's stock worth $21,749,000 after purchasing an additional 257,837 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of Plains GP by 62.7% during the 4th quarter. Cresset Asset Management LLC now owns 116,858 shares of the pipeline company's stock valued at $2,148,000 after acquiring an additional 45,034 shares during the period. Cetera Investment Advisers boosted its stake in Plains GP by 1.4% during the fourth quarter. Cetera Investment Advisers now owns 181,299 shares of the pipeline company's stock worth $3,332,000 after acquiring an additional 2,549 shares in the last quarter. BROOKFIELD Corp ON boosted its stake in Plains GP by 2.7% during the fourth quarter. BROOKFIELD Corp ON now owns 68,244 shares of the pipeline company's stock worth $1,254,000 after acquiring an additional 1,770 shares in the last quarter. Finally, Bridgefront Capital LLC acquired a new stake in Plains GP in the fourth quarter worth $252,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Down 1.2%

Shares of NYSE:PAGP traded down $0.22 during mid-day trading on Monday, hitting $18.19. 166,214 shares of the company traded hands, compared to its average volume of 1,758,184. The stock has a 50-day moving average price of $19.37 and a two-hundred day moving average price of $19.71. Plains GP Holdings, L.P. has a 12-month low of $16.60 and a 12-month high of $22.31. The stock has a market cap of $3.60 billion, a P/E ratio of 34.32 and a beta of 0.68. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.36%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP's dividend payout ratio is 205.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Raymond James increased their price target on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley boosted their price objective on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Citigroup reduced their price target on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.83.

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.