Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC lessened its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 15.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,451 shares of the pipeline company's stock after selling 23,189 shares during the period. CWA Asset Management Group LLC owned about 0.06% of Plains GP worth $2,744,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Jones Financial Companies Lllp raised its stake in shares of Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after acquiring an additional 520 shares during the period. US Bancorp DE raised its stake in shares of Plains GP by 0.7% in the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company's stock valued at $1,597,000 after acquiring an additional 598 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Plains GP by 3.0% in the 4th 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 during the period. ELCO Management Co. LLC grew its holdings in Plains GP by 2.4% during the 4th quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock valued at $624,000 after purchasing an additional 802 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Plains GP by 1.2% during the 4th quarter. NewEdge Advisors LLC now owns 78,000 shares of the pipeline company's stock worth $1,434,000 after buying an additional 953 shares during the period. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Down 0.5%

PAGP stock traded down $0.09 during mid-day trading on Friday, hitting $19.66. 1,644,394 shares of the company were exchanged, compared to its average volume of 1,586,995. The company has a market capitalization of $3.89 billion, a PE ratio of 37.10 and a beta of 0.63. 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 twelve month low of $16.61 and a twelve month high of $22.31. The firm has a fifty day simple moving average of $18.47 and a 200 day simple moving average of $19.65.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.73%. The ex-dividend date was Thursday, May 1st. Plains GP's dividend payout ratio (DPR) is presently 205.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PAGP shares. Wall Street Zen raised shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Citigroup dropped 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 note on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 25th. Barclays dropped their price target on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Plains GP currently has an average rating of "Hold" and an average price target of $20.88.

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.