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

Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,956,276 shares of the pipeline company’s stock after selling 88,220 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 3.53% of Plains GP worth $130,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PAGP. Mather Group LLC. purchased a new position in Plains GP in the first quarter valued at about $44,000. ORG Partners LLC acquired a new position in Plains GP during the 2nd quarter worth approximately $44,000. CWM LLC boosted its holdings in Plains GP by 61.0% in the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 1,147 shares during the period. Hexagon Capital Partners LLC grew its position in Plains GP by 35.9% in the first quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock valued at $69,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Plains GP during the second quarter valued at approximately $70,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of Plains GP stock opened at $18.92 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 21.50 and a beta of 1.53. Plains GP Holdings, L.P. has a 1 year low of $14.71 and a 1 year high of $20.10. The firm’s 50-day simple moving average is $18.92 and its 200-day simple moving average is $18.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.00.

Plains GP (NYSE:PAGP) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.20 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 for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the prior year, the business earned $0.25 EPS. Equities analysts forecast that Plains GP Holdings, L.P. will post 1.24 earnings per share for the current fiscal year.

Plains GP Dividend Announcement

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

Analyst Ratings Changes

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

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.