Plains GP Holdings, L.P. $PAGP Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,938,527 shares of the pipeline company’s stock after selling 179,432 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.05% of Plains GP worth $181,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Chickasaw Capital Management LLC boosted its holdings in Plains GP by 5.9% in the 3rd quarter. Chickasaw Capital Management LLC now owns 8,832,780 shares of the pipeline company’s stock worth $161,110,000 after acquiring an additional 494,259 shares during the period. Osaic Holdings Inc. increased its stake in Plains GP by 75.3% during the 2nd quarter. Osaic Holdings Inc. now owns 291,320 shares of the pipeline company’s stock worth $5,661,000 after buying an additional 125,169 shares during the period. Hsbc Holdings PLC lifted its holdings in Plains GP by 3.4% in the 2nd quarter. Hsbc Holdings PLC now owns 2,649,726 shares of the pipeline company’s stock worth $51,483,000 after buying an additional 86,695 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Plains GP by 1.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,585,000 shares of the pipeline company’s stock valued at $65,390,000 after acquiring an additional 42,000 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Plains GP during the second quarter worth about $2,100,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PAGP shares. Morgan Stanley upped their price objective on Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Zacks Research upgraded Plains GP from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Barclays cut their price objective on Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, October 7th. Finally, Raymond James Financial reduced their price objective on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.17.

Plains GP Stock Performance

Plains GP stock opened at $20.55 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 company has a market cap of $4.07 billion, a P/E ratio of 38.77 and a beta of 0.56. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $22.31. The firm’s 50 day simple moving average is $18.85 and its 200-day simple moving average is $18.68.

Plains GP Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Friday, January 30th. Plains GP’s dividend payout ratio is currently 179.57%.

Plains GP Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.