Plains GP Holdings, L.P. (NYSE:PAGP) Shares Acquired by State Street Corp

State Street Corp increased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 17.1% during the third quarter, HoldingsChannel.com reports. The fund owned 640,918 shares of the pipeline company’s stock after buying an additional 93,643 shares during the period. State Street Corp’s holdings in Plains GP were worth $11,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Plains GP in the third quarter valued at about $13,848,000. Tortoise Capital Advisors L.L.C. raised its position in Plains GP by 6.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock worth $219,572,000 after acquiring an additional 703,158 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Plains GP in the second quarter valued at $11,442,000. SIR Capital Management L.P. purchased a new stake in shares of Plains GP during the 2nd quarter worth $8,849,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Plains GP during the second quarter worth about $5,734,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Up 1.8 %

Shares of NYSE PAGP opened at $18.57 on Thursday. 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 stock has a market capitalization of $3.67 billion, a PE ratio of 21.85 and a beta of 1.57. The firm has a fifty day moving average of $18.61 and a 200-day moving average of $18.74. Plains GP Holdings, L.P. has a 52-week low of $15.78 and a 52-week high of $20.10.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.84%. Plains GP’s dividend payout ratio (DPR) is 149.41%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PAGP. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.88.

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.