Robeco Institutional Asset Management B.V. Cuts Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Robeco Institutional Asset Management B.V. reduced its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,415 shares of the pipeline company’s stock after selling 3,953 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Plains GP were worth $1,410,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Plains GP by 1.4% during the third quarter. Arizona State Retirement System now owns 55,354 shares of the pipeline company’s stock worth $892,000 after purchasing an additional 749 shares in the last quarter. Donoghue Forlines LLC grew its position in Plains GP by 3.5% during the fourth quarter. Donoghue Forlines LLC now owns 24,937 shares of the pipeline company’s stock worth $398,000 after buying an additional 841 shares during the period. Spire Wealth Management grew its position in Plains GP by 63.2% during the third quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after buying an additional 983 shares during the period. ELCO Management Co. LLC grew its position in Plains GP by 5.3% during the third quarter. ELCO Management Co. LLC now owns 19,807 shares of the pipeline company’s stock worth $319,000 after buying an additional 995 shares during the period. Finally, Van ECK Associates Corp grew its position in Plains GP by 1.8% during the fourth quarter. Van ECK Associates Corp now owns 60,313 shares of the pipeline company’s stock worth $962,000 after buying an additional 1,083 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAGP has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of Plains GP in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group upped their target price on shares of Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Barclays increased their price target on shares of Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Plains GP presently has an average rating of “Moderate Buy” and an average price target of $19.64.

Plains GP Stock Down 2.0 %

Shares of NYSE PAGP opened at $18.30 on Thursday. Plains GP Holdings, L.P. has a 1 year low of $13.47 and a 1 year high of $19.77. The firm’s 50 day moving average price is $18.41 and its 200 day moving average price is $17.03. The firm has a market cap of $3.61 billion, a P/E ratio of 20.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 0.97.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.3175 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 6.94%. Plains GP’s dividend payout ratio (DPR) is currently 144.32%.

About Plains GP

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.