Plains GP Holdings, L.P. $PAGP Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 10.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,924 shares of the pipeline company’s stock after selling 8,502 shares during the period. American Century Companies Inc.’s holdings in Plains GP were worth $1,558,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp raised its stake in shares of Plains GP by 27.2% during the 4th quarter. Northern Trust Corp now owns 80,964 shares of the pipeline company’s stock worth $1,488,000 after buying an additional 17,333 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Plains GP by 669.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 76,981 shares of the pipeline company’s stock worth $1,415,000 after acquiring an additional 66,977 shares during the period. BNP Paribas Financial Markets raised its position in Plains GP by 2.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,340,765 shares of the pipeline company’s stock worth $24,643,000 after acquiring an additional 26,791 shares in the last quarter. Bridgefront Capital LLC acquired a new stake in Plains GP in the fourth quarter valued at $252,000. Finally, BROOKFIELD Corp ON boosted its position in shares of Plains GP by 2.7% during the 4th quarter. BROOKFIELD Corp ON now owns 68,244 shares of the pipeline company’s stock worth $1,254,000 after purchasing an additional 1,770 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PAGP shares. Wall Street Zen upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Mizuho increased their target price on shares of Plains GP from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price target on shares of Plains GP from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, June 18th. Morgan Stanley lowered their price target on Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Finally, Citigroup reduced their price objective on Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Plains GP has an average rating of “Hold” and an average price target of $20.50.

Plains GP Stock Performance

Shares of PAGP opened at $19.01 on Wednesday. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 35.87 and a beta of 0.77. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a 1 year low of $16.60 and a 1 year high of $22.31. The company’s 50 day simple moving average is $19.35 and its 200 day simple moving average is $19.41.

Plains GP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.0%. Plains GP’s dividend payout ratio (DPR) is 220.29%.

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.