Massachusetts Financial Services Co. MA Sells 34,937 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Massachusetts Financial Services Co. MA lowered its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,948,431 shares of the pipeline company’s stock after selling 34,937 shares during the period. Massachusetts Financial Services Co. MA owned 0.05% of Plains GP worth $182,852,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its stake 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 valued at $25,000 after acquiring an additional 520 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Plains GP in the 4th quarter worth $33,000. Allworth Financial LP bought a new position in Plains GP during the 4th quarter worth approximately $44,000. Farther Finance Advisors LLC grew its holdings in shares of Plains GP by 8,120.7% in the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its position in shares of 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 worth $81,000 after buying an additional 4,000 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Down 4.4 %

Shares of NYSE:PAGP opened at $20.65 on Friday. The company has a 50-day moving average price of $21.26 and a 200 day moving average price of $19.74. 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 Holdings, L.P. has a 12 month low of $17.17 and a 12 month high of $22.31. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 38.96 and a beta of 1.55.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.36%. Plains GP’s dividend payout ratio (DPR) is currently 286.79%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Raymond James boosted their target price on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley increased their price objective on shares of Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 25th. Barclays boosted their target price on shares of Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Plains GP has an average rating of “Hold” and an average target price of $21.00.

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.