Teacher Retirement System of Texas Buys 6,047 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Teacher Retirement System of Texas raised its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 169,447 shares of the pipeline company’s stock after purchasing an additional 6,047 shares during the period. Teacher Retirement System of Texas owned 0.09% of Plains GP worth $3,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings in shares of Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 520 shares during the last quarter. US Bancorp DE raised its stake in Plains GP by 0.7% in the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock valued at $1,597,000 after buying an additional 598 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Plains GP by 10.0% in the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after acquiring an additional 637 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Plains GP by 1.2% during the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after acquiring an additional 729 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock valued at $471,000 after acquiring an additional 748 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

PAGP has been the topic of several research analyst reports. Raymond James boosted their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Tuesday. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Finally, Barclays raised their price objective on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.00.

Plains GP Trading Up 0.3 %

Shares of NYSE:PAGP opened at $21.52 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 12-month low of $17.17 and a 12-month high of $22.31. The business has a 50 day moving average of $21.27 and a two-hundred day moving average of $19.61. The company has a market capitalization of $4.26 billion, a PE ratio of 40.60 and a beta of 1.55.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.38 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.06%. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s payout ratio is currently 286.79%.

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.