Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,982,404 shares of the pipeline company's stock after selling 56,989 shares during the period. Miller Howard Investments Inc. NY owned 1.01% of Plains GP worth $31,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PAGP. Arizona State Retirement System lifted its stake in shares of Plains GP by 1.4% during the third quarter. Arizona State Retirement System now owns 55,354 shares of the pipeline company's stock worth $892,000 after buying an additional 749 shares during the period. Geode Capital Management LLC grew its stake in Plains GP by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 168,128 shares of the pipeline company's stock valued at $2,091,000 after purchasing an additional 771 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Plains GP by 0.5% in the third quarter. California State Teachers Retirement System now owns 171,847 shares of the pipeline company's stock valued at $2,770,000 after purchasing an additional 781 shares during the period. Spire Wealth Management raised its stake in shares of Plains GP by 63.2% in the third quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company's stock worth $41,000 after purchasing an additional 983 shares during the last quarter. Finally, ELCO Management Co. LLC lifted its holdings in shares of Plains GP by 5.3% during the third quarter. ELCO Management Co. LLC now owns 19,807 shares of the pipeline company's stock worth $319,000 after purchasing an additional 995 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Scotiabank initiated coverage on Plains GP in a report on Monday. They issued a "sector outperform" rating and a $23.00 price objective for the company. Citigroup boosted their price target on Plains GP from $16.50 to $17.50 and gave the company a "neutral" rating in a report on Friday, March 1st. Finally, StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a report on Monday, March 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $18.13.

Plains GP Stock Performance

NYSE PAGP traded down $0.34 during trading hours on Tuesday, hitting $19.31. The company had a trading volume of 2,357,046 shares, compared to its average volume of 2,262,188. The business has a 50 day moving average of $17.32 and a 200-day moving average of $16.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 0.98. Plains GP Holdings, L.P. has a 1-year low of $12.59 and a 1-year high of $19.77. The company has a market cap of $3.81 billion, a PE ratio of 19.25 and a beta of 1.55.

Plains GP (NYSE:PAGP - Get Free Report) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). The firm had revenue of $12.70 billion during the quarter, compared to analysts' expectations of $12.88 billion. Plains GP had a net margin of 0.41% and a return on equity of 1.33%. As a group, equities research analysts expect that Plains GP Holdings, L.P. will post 1.56 EPS for the current year.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date is Tuesday, April 30th. Plains GP's payout ratio is currently 124.51%.

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.