Maryland State Retirement & Pension System Sells 3,669 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Maryland State Retirement & Pension System trimmed its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,884 shares of the pipeline company’s stock after selling 3,669 shares during the period. Maryland State Retirement & Pension System owned 0.08% of Plains GP worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp raised its position in shares of Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after buying an additional 520 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Plains GP during the fourth quarter valued at about $33,000. Allworth Financial LP purchased a new stake in Plains GP during the fourth quarter valued at about $44,000. Farther Finance Advisors LLC raised its position in Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 2,355 shares in the last quarter. Finally, Atala Financial Inc purchased a new stake in Plains GP during the fourth quarter valued at about $90,000. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

Shares of PAGP opened at $21.56 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. The company has a 50-day simple moving average of $21.20 and a two-hundred day simple moving average of $19.55. The firm has a market capitalization of $4.26 billion, a PE ratio of 40.68 and a beta of 1.55.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.05%. Plains GP’s dividend payout ratio (DPR) is 286.79%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PAGP shares. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Friday, January 10th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Raymond James raised 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. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Barclays raised their price objective on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. 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. According to data from MarketBeat, Plains GP currently has an average rating of “Hold” and an average price target of $20.60.

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.