Amundi Sells 42,473 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Amundi lowered its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 34.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,446 shares of the pipeline company’s stock after selling 42,473 shares during the quarter. Amundi’s holdings in Plains GP were worth $1,583,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Chickasaw Capital Management LLC boosted its position in shares of Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after purchasing an additional 1,629,008 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Plains GP during the 3rd quarter worth $13,848,000. Yaupon Capital Management LP bought a new position in Plains GP during the third quarter worth about $9,772,000. Raymond James Financial Inc. acquired a new position in Plains GP in the fourth quarter valued at about $5,214,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Plains GP in the third quarter worth about $4,013,000. Institutional investors own 88.30% of the company’s stock.

Analysts Set New Price Targets

PAGP has been the topic of several recent analyst reports. Raymond James lifted their price objective on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Barclays lifted their price target on shares of Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.60.

Plains GP Trading Up 1.4 %

Plains GP stock opened at $21.39 on Tuesday. 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 has a 50-day moving average of $21.09 and a 200-day moving average of $19.51. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 40.36 and a beta of 1.55. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.11%. This is an increase from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is currently 286.79%.

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.