Barrow Hanley Mewhinney & Strauss LLC Lowers Position in Plains GP Holdings, L.P. $PAGP

Barrow Hanley Mewhinney & Strauss LLC reduced its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 23.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,002,741 shares of the pipeline company’s stock after selling 1,507,122 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 2.53% of Plains GP worth $91,250,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Cibc World Market Inc. raised its position in Plains GP by 3.8% in the third quarter. Cibc World Market Inc. now owns 16,229 shares of the pipeline company’s stock valued at $296,000 after purchasing an additional 597 shares during the period. Arkadios Wealth Advisors grew its stake in shares of Plains GP by 0.8% in the third quarter. Arkadios Wealth Advisors now owns 75,889 shares of the pipeline company’s stock valued at $1,384,000 after buying an additional 631 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Plains GP by 56.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock valued at $32,000 after buying an additional 645 shares in the last quarter. Navellier & Associates Inc. raised its holdings in shares of Plains GP by 5.7% in the 3rd quarter. Navellier & Associates Inc. now owns 14,275 shares of the pipeline company’s stock valued at $260,000 after buying an additional 775 shares during the period. Finally, Baker Avenue Asset Management LP raised its holdings in shares of Plains GP by 8.2% in the 2nd quarter. Baker Avenue Asset Management LP now owns 10,278 shares of the pipeline company’s stock valued at $200,000 after buying an additional 778 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Trading Down 2.9%

Shares of NYSE:PAGP opened at $22.91 on Wednesday. Plains GP Holdings, L.P. has a 52 week low of $16.60 and a 52 week high of $24.00. The company’s 50 day moving average is $21.11 and its two-hundred day moving average is $19.24. The company has a market cap of $4.53 billion, a PE ratio of 43.23 and a beta of 0.56. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.4175 per share. The ex-dividend date was Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.3%. Plains GP’s dividend payout ratio (DPR) is 129.46%.

Wall Street Analyst Weigh In

PAGP has been the subject of several recent research reports. Bank of America lowered shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research note on Wednesday, January 28th. Zacks Research lowered shares of Plains GP from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Stifel Nicolaus raised their price target on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley boosted their price target on shares of Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Finally, Mizuho set a $23.00 price objective on Plains GP in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Plains GP currently has an average rating of “Hold” and a consensus price target of $21.11.

Plains GP Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.