Westwood Holdings Group Inc. Has $101.51 Million Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Westwood Holdings Group Inc. grew its holdings in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,393,558 shares of the pipeline company's stock after purchasing an additional 113,098 shares during the period. Westwood Holdings Group Inc. owned approximately 2.73% of Plains GP worth $101,507,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PAGP. ORG Partners LLC bought a new position in Plains GP in the second quarter valued at about $44,000. Mather Group LLC. bought a new stake in shares of Plains GP during the 1st quarter valued at approximately $44,000. CWM LLC increased its position in Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company's stock worth $57,000 after purchasing an additional 1,147 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Plains GP by 35.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company's stock valued at $69,000 after purchasing an additional 1,001 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in Plains GP in the second quarter valued at approximately $70,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PAGP shares. StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Monday, August 5th. Morgan Stanley upped their target price on Plains GP from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, June 10th. Finally, Wolfe Research raised Plains GP to a "hold" rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Plains GP presently has a consensus rating of "Hold" and a consensus target price of $20.11.

Plains GP Trading Down 0.1 %

Shares of Plains GP stock traded down $0.02 during midday trading on Friday, reaching $18.92. The company had a trading volume of 930,474 shares, compared to its average volume of 1,136,361. The stock has a fifty day moving average price of $18.92 and a 200 day moving average price of $18.53. Plains GP Holdings, L.P. has a fifty-two week low of $14.71 and a fifty-two week high of $20.10. The firm has a market cap of $3.73 billion, a PE ratio of 21.50 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90.

Plains GP (NYSE:PAGP - Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.11). Plains GP had a return on equity of 1.09% and a net margin of 0.33%. The firm had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same quarter last year, the firm posted $0.25 EPS. On average, equities analysts anticipate that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current year.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.3175 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a yield of 6.71%. Plains GP's payout ratio is currently 144.32%.

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.