Barrow Hanley Mewhinney & Strauss LLC Sells 276,705 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PAGP. Custom Index Systems LLC acquired a new position in Plains GP in the 4th quarter valued at $265,000. Plato Investment Management Ltd increased its position in shares of Plains GP by 144.2% in the fourth quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company's stock worth $661,000 after purchasing an additional 21,146 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Plains GP in the fourth quarter valued at about $380,000. Leisure Capital Management bought a new stake in Plains GP during the fourth quarter worth about $931,000. Finally, Bank of Montreal Can lifted its position in Plains GP by 36.4% during the fourth quarter. Bank of Montreal Can now owns 43,284 shares of the pipeline company's stock worth $796,000 after purchasing an additional 11,541 shares during the period. Institutional investors own 88.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup reduced their price target on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Barclays decreased their price target on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Mizuho lowered their price target on Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Morgan Stanley raised their price objective on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 25th. Finally, Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.71.

Plains GP Trading Down 0.7%

PAGP traded down $0.12 during trading on Wednesday, reaching $17.97. 631,492 shares of the company's stock were exchanged, compared to its average volume of 1,529,439. 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 one year low of $16.61 and a one year high of $22.31. The firm has a fifty day moving average price of $18.90 and a two-hundred day moving average price of $19.69. The stock has a market capitalization of $3.55 billion, a PE ratio of 33.91 and a beta of 0.68.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.46%. Plains GP's payout ratio is 205.41%.

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.