Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The fund 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.’s holdings in Plains GP were worth $39,900,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PAGP. Jones Financial Companies Lllp boosted its position 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 during the period. Golden State Wealth Management LLC purchased a new position in Plains GP in the 4th quarter valued at approximately $33,000. Farther Finance Advisors LLC boosted its position 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 buying an additional 2,355 shares during the period. Allworth Financial LP purchased a new position in Plains GP in the 4th quarter valued at approximately $44,000. Finally, Mark Sheptoff Financial Planning LLC boosted its position 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 buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

PAGP has been the subject of several recent research reports. Raymond James raised their price target on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Citigroup decreased 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. Morgan Stanley raised their price target on shares of Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 25th. Finally, Barclays decreased their price objective on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. One equities 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.83.

Plains GP Price Performance

Plains GP stock opened at $18.77 on Wednesday. The stock has a market cap of $3.71 billion, a P/E ratio of 35.42 and a beta of 0.68. The company has a fifty day simple moving average of $19.50 and a 200-day simple moving average of $19.67. Plains GP Holdings, L.P. has a 12-month low of $16.61 and a 12-month 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.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.10%. Plains GP’s dividend payout ratio (DPR) is currently 205.41%.

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.