Westwood Holdings Group Inc. Has $308,000 Holdings in Plains GP Holdings, L.P. $PAGP

Key Points

• Westwood Holdings cut its stake in Plains GP by 99.6% in Q2, selling 3,664,283 shares and leaving a holding worth about $308,000.
• Research firms have trimmed price targets and the stock carries a consensus "Hold" rating with a consensus target of $20.13, while PAGP trades near $17.76.
• Plains GP pays a quarterly $0.38 dividend (annualized $1.52) for an ~8.6% yield, but the dividend payout ratio is an elevated 163.44%, raising sustainability concerns.

Westwood Holdings Group Inc. lessened its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 99.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,828 shares of the pipeline company's stock after selling 3,664,283 shares during the period. Westwood Holdings Group Inc.'s holdings in Plains GP were worth $308,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PAGP. Massachusetts Financial Services Co. MA grew its stake in Plains GP by 2.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,117,959 shares of the pipeline company's stock valued at $196,592,000 after buying an additional 247,365 shares during the last quarter. Advisors Capital Management LLC increased its stake in shares of Plains GP by 5.3% during the second quarter. Advisors Capital Management LLC now owns 2,565,347 shares of the pipeline company's stock worth $49,845,000 after purchasing an additional 130,207 shares during the period. Intrua Financial LLC lifted its holdings in shares of Plains GP by 7.0% during the second quarter. Intrua Financial LLC now owns 29,307 shares of the pipeline company's stock worth $569,000 after buying an additional 1,907 shares in the last quarter. Vise Technologies Inc. acquired a new position in shares of Plains GP in the second quarter valued at about $643,000. Finally, Allworth Financial LP increased its position in Plains GP by 43.2% during the second quarter. Allworth Financial LP now owns 3,484 shares of the pipeline company's stock worth $68,000 after acquiring an additional 1,051 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PAGP. Raymond James Financial dropped their price target on shares of Plains GP from $24.00 to $22.00 and set a "strong-buy" rating for the company in a research report on Friday, October 24th. Wolfe Research reiterated a "peer perform" rating on shares of Plains GP in a research note on Friday, July 25th. Barclays reduced their price target on shares of Plains GP from $18.00 to $17.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of Plains GP from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, September 18th. Finally, Morgan Stanley lowered their price objective on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.13.

Plains GP Trading Down 0.6%

PAGP opened at $17.76 on Tuesday. The company has a market cap of $3.51 billion, a P/E ratio of 33.51 and a beta of 0.70. 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's 50 day moving average is $17.83 and its 200-day moving average is $18.54. Plains GP Holdings, L.P. has a 1-year low of $16.60 and a 1-year high of $22.31.

Plains GP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a $0.38 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.6%. Plains GP's dividend payout ratio (DPR) is currently 163.44%.

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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