Plains GP Holdings, L.P. (NYSE:PAGP) Holdings Lowered by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC reduced its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,487,250 shares of the pipeline company’s stock after selling 276,705 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 3.29% of Plains GP worth $119,236,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in Plains GP by 8.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock valued at $24,309,000 after purchasing an additional 103,353 shares during the period. Townsquare Capital LLC increased its holdings 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 buying an additional 729 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Plains GP during the third quarter worth $4,013,000. Captrust Financial Advisors lifted its position in shares of Plains GP by 4.0% during the third quarter. Captrust Financial Advisors now owns 57,596 shares of the pipeline company’s stock worth $1,066,000 after purchasing an additional 2,241 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new position in Plains GP in the third quarter valued at about $222,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Up 0.2 %

Shares of NYSE PAGP opened at $21.51 on Friday. Plains GP Holdings, L.P. has a 12 month low of $17.17 and a 12 month high of $22.31. 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 company has a market cap of $4.25 billion, a price-to-earnings ratio of 40.59 and a beta of 1.55. The stock has a 50-day moving average price of $21.30 and a two-hundred day moving average price of $19.67.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.38 per share. 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 7.07%. The ex-dividend date was Friday, January 31st. Plains GP’s payout ratio is 286.79%.

Analysts Set New Price Targets

Several equities research analysts have commented on PAGP shares. Raymond James upped their target price on shares of 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 upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Wells Fargo & Company lowered 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 research note on Wednesday, December 18th. Finally, Barclays boosted their price objective on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

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.