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

Barrow Hanley Mewhinney & Strauss LLC decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Chickasaw Capital Management LLC boosted its holdings in Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after acquiring an additional 1,629,008 shares during the last quarter. Yaupon Capital Management LP bought a new stake in shares of Plains GP during the 3rd quarter valued at $9,772,000. Vanguard Group Inc. boosted its position 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 acquiring an additional 288,430 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Plains GP during the 4th quarter valued at $5,214,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Plains GP in the 3rd quarter worth about $4,013,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Up 0.2 %

PAGP stock opened at $21.51 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. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 40.59 and a beta of 1.55. The business’s 50-day moving average is $21.30 and its two-hundred day moving average is $19.67. Plains GP Holdings, L.P. has a fifty-two week low of $17.17 and a fifty-two week high of $22.31.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.07%. The ex-dividend date was Friday, January 31st. This is a boost from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is currently 286.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PAGP shares. Morgan Stanley lifted their price target on Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 25th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, January 10th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James upped their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Barclays upped their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.00.

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.