Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 13.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,577 shares of the pipeline company's stock after selling 30,056 shares during the quarter. Legal & General Group Plc owned approximately 0.10% of Plains GP worth $3,631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after buying an additional 520 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Plains GP in the 4th quarter valued at about $33,000. Allworth Financial LP acquired a new stake in Plains GP in the 4th quarter valued at about $44,000. Farther Finance Advisors LLC raised its holdings in Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after acquiring an additional 2,355 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in Plains GP by 1,000.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock valued at $81,000 after acquiring an additional 4,000 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Trading Up 0.3 %

Plains GP stock traded up $0.05 during trading on Monday, hitting $19.44. The company had a trading volume of 875,338 shares, compared to its average volume of 1,559,443. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company's 50 day simple moving average is $20.17 and its 200-day simple moving average is $19.70. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 36.68 and a beta of 1.11.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 7.82%. Plains GP's dividend payout ratio (DPR) is presently 286.79%.

Wall Street Analyst Weigh In

PAGP has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a report on Friday, January 10th. Barclays cut 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. Raymond James increased their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley raised their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Finally, StockNews.com downgraded shares of Plains GP from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Plains GP has an average 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.