Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Vestcor Inc

Vestcor Inc reduced its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 50.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,138 shares of the pipeline company’s stock after selling 39,304 shares during the period. Vestcor Inc’s holdings in Plains GP were worth $719,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 520 shares during the last quarter. US Bancorp DE boosted its stake in Plains GP by 0.7% during the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock worth $1,597,000 after buying an additional 598 shares during the period. Continuum Advisory LLC boosted its stake in Plains GP by 10.0% during the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after buying an additional 637 shares during the period. Townsquare Capital LLC boosted its stake in Plains GP by 1.2% during the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after buying an additional 729 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock worth $471,000 after buying an additional 748 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Up 1.7 %

Shares of Plains GP stock opened at $21.10 on Monday. Plains GP Holdings, L.P. has a 52-week low of $17.17 and a 52-week high of $22.31. The company has a 50 day moving average of $21.04 and a 200 day moving average of $19.49. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $4.17 billion, a P/E ratio of 39.81 and a beta of 1.55.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.38 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.20%. This is an increase from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s payout ratio is currently 286.79%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PAGP. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. 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. Barclays increased their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Raymond James raised their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.60.

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.