Plains GP Holdings, L.P. (NYSE:PAGP) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 3.7% during the 4th quarter, Holdings Channel reports. The firm owned 169,447 shares of the pipeline company’s stock after buying an additional 6,047 shares during the quarter. Teacher Retirement System of Texas’ holdings in Plains GP were worth $3,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chickasaw Capital Management LLC lifted its position in shares of Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after buying an additional 1,629,008 shares in the last quarter. Miller Howard Investments Inc. NY lifted its holdings in Plains GP by 2.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 1,535,470 shares of the pipeline company’s stock valued at $28,222,000 after purchasing an additional 34,894 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Plains GP by 8.5% in the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock valued at $24,309,000 after purchasing an additional 103,353 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of Plains GP by 11.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 835,254 shares of the pipeline company’s stock worth $15,352,000 after purchasing an additional 86,714 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in shares of Plains GP by 2.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 750,930 shares of the pipeline company’s stock worth $13,802,000 after purchasing an additional 18,595 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PAGP. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Raymond James increased their price objective on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays lifted 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. Finally, Morgan Stanley increased their target price 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Plains GP currently has a consensus rating of “Hold” and an average target price of $21.00.

Plains GP Trading Up 0.3 %

Shares of PAGP opened at $21.52 on Wednesday. Plains GP Holdings, L.P. has a 12-month low of $17.17 and a 12-month high of $22.31. The firm has a market capitalization of $4.26 billion, a P/E ratio of 40.60 and a beta of 1.55. The firm has a 50-day moving average price of $21.27 and a 200 day moving average price of $19.61. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.38 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.06%. Plains GP’s dividend payout ratio is 286.79%.

Plains GP 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.