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

Barrow Hanley Mewhinney & Strauss LLC trimmed its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 about 3.29% of Plains GP worth $119,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its stake in Plains GP by 61.7% during the fourth 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 grew its position in Plains GP by 0.7% during the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company's stock valued at $1,597,000 after purchasing an additional 598 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in 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 purchasing an additional 748 shares in the last quarter. ELCO Management Co. LLC grew its position in Plains GP by 2.4% in the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock worth $624,000 after acquiring an additional 802 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Plains GP by 1.2% in the fourth quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company's stock worth $1,434,000 after acquiring an additional 953 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PAGP has been the subject of several recent research reports. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Mizuho reduced their price target on shares of Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday. Raymond James increased their price objective 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. Barclays dropped their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Finally, Citigroup dropped their target price on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.71.

Plains GP Trading Down 0.3%

PAGP opened at $17.71 on Friday. 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 stock has a market capitalization of $3.50 billion, a PE ratio of 33.42 and a beta of 0.68. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. The firm has a 50-day moving average price of $19.11 and a two-hundred day moving average price of $19.69.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.58%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP's payout ratio is presently 205.41%.

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.

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