Westwood Holdings Group Inc. Lowers Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Westwood Holdings Group Inc. trimmed its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 23.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,804,585 shares of the pipeline company’s stock after selling 1,198,038 shares during the period. Westwood Holdings Group Inc. owned approximately 1.93% of Plains GP worth $69,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in PAGP. Two Sigma Advisers LP grew its holdings in shares of Plains GP by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company’s stock worth $73,610,000 after purchasing an additional 19,900 shares during the last quarter. Snowden Capital Advisors LLC bought a new position in shares of Plains GP during the 4th quarter worth approximately $300,000. McGowan Group Asset Management Inc. increased its position in shares of Plains GP by 0.8% during the fourth quarter. McGowan Group Asset Management Inc. now owns 1,130,891 shares of the pipeline company’s stock worth $20,786,000 after purchasing an additional 8,726 shares in the last quarter. Eagle Global Advisors LLC boosted its stake in Plains GP by 27.9% in the 4th quarter. Eagle Global Advisors LLC now owns 1,183,317 shares of the pipeline company’s stock worth $21,749,000 after purchasing an additional 257,837 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its position in Plains GP by 62.7% during the 4th quarter. Cresset Asset Management LLC now owns 116,858 shares of the pipeline company’s stock worth $2,148,000 after acquiring an additional 45,034 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Down 0.2%

Shares of Plains GP stock opened at $18.41 on Monday. The company has a 50 day moving average of $19.37 and a 200 day moving average of $19.71. The company has a market capitalization of $3.64 billion, a P/E ratio of 34.74 and a beta of 0.68. Plains GP Holdings, L.P. has a 52-week low of $16.61 and a 52-week high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.26%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP’s dividend payout ratio (DPR) is 205.41%.

Analyst Ratings Changes

A number of research firms have issued reports on PAGP. Barclays reduced their price target on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup cut their price objective on Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Raymond James lifted their target price 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. Finally, Morgan Stanley raised 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Plains GP currently has a consensus rating of “Hold” and an average target price of $20.83.

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.