Barrow Hanley Mewhinney & Strauss LLC Cuts Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Barrow Hanley Mewhinney & Strauss LLC decreased its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,487,250 shares of the pipeline company's stock after selling 276,705 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 3.29% of Plains GP worth $119,236,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Chickasaw Capital Management LLC lifted its stake in shares of Plains GP by 24.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock valued at $151,047,000 after acquiring an additional 1,629,008 shares during the last quarter. Yaupon Capital Management LP bought a new position in Plains GP in the third quarter valued at about $9,772,000. Vanguard Group Inc. boosted its stake in shares of Plains GP by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock valued at $58,213,000 after purchasing an additional 288,430 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Plains GP during the fourth quarter worth about $5,214,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Plains GP in the third quarter valued at approximately $4,013,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PAGP. Wells Fargo & Company lowered shares of 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 boosted their price objective 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. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Morgan Stanley increased their price target on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 25th. Finally, Barclays lifted their price objective on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Plains GP presently has an average rating of "Hold" and an average price target of $21.00.

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Plains GP Trading Down 4.1 %

Shares of NYSE:PAGP traded down $0.88 during mid-day trading on Thursday, hitting $20.73. The company had a trading volume of 1,471,381 shares, compared to its average volume of 1,577,251. The company has a market capitalization of $4.10 billion, a PE ratio of 39.11 and a beta of 1.55. Plains GP Holdings, L.P. has a one year low of $17.17 and a one year high of $22.31. The firm has a fifty day moving average price of $21.28 and a 200 day moving average price of $19.73. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This is an increase from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.33%. Plains GP's payout ratio is presently 286.79%.

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.