Barrow Hanley Mewhinney & Strauss LLC Sells 276,705 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,487,250 shares of the pipeline company’s stock after selling 276,705 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Plains GP were worth $119,236,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. boosted its stake in Plains GP by 8.0% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock worth $229,989,000 after acquiring an additional 927,855 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Plains GP by 11.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock worth $113,077,000 after acquiring an additional 646,130 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Plains GP by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company’s stock worth $73,610,000 after acquiring an additional 19,900 shares during the last quarter. Vanguard Group Inc. boosted its stake in Plains GP by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company’s stock worth $58,213,000 after acquiring an additional 288,430 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Plains GP by 0.9% during the 4th quarter. Invesco Ltd. now owns 2,932,295 shares of the pipeline company’s stock worth $53,896,000 after acquiring an additional 27,148 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of PAGP opened at $17.71 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a twelve month low of $16.61 and a twelve month high of $22.31. The firm’s 50 day moving average price is $19.11 and its two-hundred day moving average price is $19.69. The firm has a market cap of $3.50 billion, a P/E ratio of 33.42 and a beta of 0.68.

Plains GP Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PAGP shares. Mizuho reduced their price objective on shares of Plains GP from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday. Raymond James lifted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays reduced their price objective 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. Wall Street Zen raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, Morgan Stanley lifted their price objective 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.71.

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.