Plains GP Holdings, L.P. $PAGP Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lessened its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,100,206 shares of the pipeline company’s stock after selling 73,875 shares during the period. Miller Howard Investments Inc. NY owned 0.56% of Plains GP worth $20,068,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PAGP. Chickasaw Capital Management LLC raised 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 valued at $161,110,000 after acquiring an additional 494,259 shares during the last quarter. HRT Financial LP boosted its holdings in Plains GP by 80.6% in the 2nd quarter. HRT Financial LP now owns 836,999 shares of the pipeline company’s stock valued at $16,262,000 after purchasing an additional 373,578 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Plains GP by 2.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,117,959 shares of the pipeline company’s stock valued at $196,592,000 after purchasing an additional 247,365 shares during the last quarter. Callodine Capital Management LP purchased a new stake in shares of Plains GP in the 2nd quarter valued at approximately $4,663,000. Finally, Turtle Creek Wealth Advisors LLC grew its position in Plains GP by 41.9% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 685,843 shares of the pipeline company’s stock worth $13,326,000 after acquiring an additional 202,625 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Up 1.1%

Shares of NYSE:PAGP opened at $19.83 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $18.50 and a 200-day simple moving average of $18.64. The company has a market capitalization of $3.92 billion, a PE ratio of 37.42 and a beta of 0.56. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31.

Plains GP Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PAGP. Zacks Research raised shares of Plains GP from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Barclays cut their target price on Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. Morgan Stanley raised their price target on Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. JPMorgan Chase & Co. cut their price target on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th. Finally, Raymond James Financial cut their target price on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Plains GP presently has an average rating of “Moderate Buy” and a consensus target price of $20.17.

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.