Goodman Financial Corp Sells 13,345 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Goodman Financial Corp lessened its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 779,923 shares of the pipeline company's stock after selling 13,345 shares during the quarter. Plains GP makes up approximately 3.1% of Goodman Financial Corp's portfolio, making the stock its 11th biggest position. Goodman Financial Corp owned 0.39% of Plains GP worth $14,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC bought a new stake in shares of Plains GP in the third quarter worth about $13,848,000. Algert Global LLC lifted its holdings in Plains GP by 128.6% in the 3rd quarter. Algert Global LLC now owns 87,659 shares of the pipeline company's stock worth $1,622,000 after buying an additional 49,320 shares during the period. Larson Financial Group LLC bought a new stake in shares of Plains GP in the 3rd quarter worth approximately $353,000. BNP Paribas Financial Markets increased its stake in shares of Plains GP by 8.5% during the third quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company's stock valued at $24,309,000 after buying an additional 103,353 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of Plains GP by 1.2% during the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company's stock valued at $1,110,000 after buying an additional 729 shares during the period. Institutional investors own 88.30% of the company's stock.

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Wall Street Analysts Forecast Growth

PAGP has been the subject of a number of research analyst reports. Morgan Stanley raised 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. Raymond James lifted their price objective on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. 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. StockNews.com cut Plains GP from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $21.00.

Plains GP Stock Performance

PAGP stock traded up $0.06 during trading on Tuesday, reaching $21.52. The stock had a trading volume of 782,765 shares, compared to its average volume of 1,494,834. The stock's 50 day moving average is $21.26 and its two-hundred day moving average is $19.59. The firm has a market cap of $4.26 billion, a PE ratio of 40.60 and a beta of 1.55. Plains GP Holdings, L.P. has a 52 week low of $17.17 and a 52 week high of $22.31. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.38 per share. This is a boost from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date was Friday, January 31st. Plains GP's dividend payout ratio is currently 286.79%.

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.