CWA Asset Management Group LLC Sells 23,189 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

CWA Asset Management Group LLC decreased its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 15.3% during the 1st quarter, according to its most recent disclosure with the Securities & 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 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PAGP. Jones Financial Companies Lllp raised its holdings in 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. Allworth Financial LP acquired a new position in shares of Plains GP in the fourth quarter valued at approximately $44,000. Farther Finance Advisors LLC increased its stake in shares of Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after purchasing an additional 2,355 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock worth $81,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in Plains GP during the 4th quarter worth approximately $90,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Price Performance

PAGP stock traded up $0.80 during midday trading on Thursday, reaching $19.75. The company had a trading volume of 3,053,653 shares, compared to its average volume of 1,582,559. Plains GP Holdings, L.P. has a 1-year low of $16.61 and a 1-year high of $22.31. The stock has a 50 day moving average price of $18.40 and a 200-day moving average price of $19.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 37.26 and a beta of 0.63.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.70%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP's payout ratio is presently 205.41%.

Analyst Ratings Changes

A number of research analysts have commented on PAGP shares. Barclays decreased their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Mizuho boosted their target price on shares of Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday. Citigroup dropped their price objective on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Plains GP presently has an average rating of "Hold" and a consensus target price of $20.88.

About Plains GP

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.