Westwood Holdings Group Inc. Has $78.61 Million Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Key Points

• Westwood Holdings Group Inc. has reduced its stake in Plains GP Holdings by 3.3%, selling 124,474 shares and retaining approximately 3.68 million shares worth $78.6 million.
• Multiple institutional investors, including Annis Gardner Whiting Capital Advisors LLC and Bayforest Capital Ltd, have made significant changes to their positions in Plains GP, reflecting active interest in the stock.
• Plains GP recently announced a quarterly dividend of $0.38 per share, which equates to an annual yield of 7.9%, despite a high dividend payout ratio of 205.41%.

Westwood Holdings Group Inc. cut its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,680,111 shares of the pipeline company's stock after selling 124,474 shares during the quarter. Westwood Holdings Group Inc. owned about 1.86% of Plains GP worth $78,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PAGP. Vanguard Group Inc. grew its stake in shares of Plains GP by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after buying an additional 288,430 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Plains GP by 7.0% during the 4th quarter. Wells Fargo & Company MN now owns 893,296 shares of the pipeline company's stock valued at $16,419,000 after purchasing an additional 58,304 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Plains GP during the 4th quarter valued at $668,000. Russell Investments Group Ltd. lifted its holdings in Plains GP by 2.4% during the 4th quarter. Russell Investments Group Ltd. now owns 74,057 shares of the pipeline company's stock valued at $1,361,000 after purchasing an additional 1,719 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Plains GP by 36.4% during the 4th quarter. Bank of Montreal Can now owns 43,284 shares of the pipeline company's stock valued at $796,000 after purchasing an additional 11,541 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Trading Down 0.3%

Shares of Plains GP stock traded down $0.05 during midday trading on Friday, reaching $19.24. The company had a trading volume of 1,689,227 shares, compared to its average volume of 1,711,473. The stock has a fifty day moving average price of $19.32 and a 200 day moving average price of $19.70. 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 firm has a market cap of $3.80 billion, a PE ratio of 36.30 and a beta of 0.70. Plains GP Holdings, L.P. has a fifty-two week low of $16.60 and a fifty-two week high of $22.31.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Thursday, July 31st. Plains GP's payout ratio is currently 205.41%.

Analyst Ratings Changes

Several brokerages have issued reports on PAGP. Mizuho raised their price target on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. Wolfe Research reissued a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Citigroup decreased their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. raised their price target on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.88.

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.