Plains GP Holdings, L.P. (NYSE:PAGP) Stake Cut by Goodman Financial Corp

Goodman Financial Corp cut its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 793,268 shares of the pipeline company’s stock after selling 8,142 shares during the quarter. Plains GP comprises approximately 3.3% of Goodman Financial Corp’s portfolio, making the stock its 9th largest holding. Goodman Financial Corp owned about 0.40% of Plains GP worth $14,675,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC acquired a new position in Plains GP in the 3rd quarter valued at about $353,000. Algert Global LLC grew its stake in shares of Plains GP by 128.6% in the 3rd quarter. Algert Global LLC now owns 87,659 shares of the pipeline company’s stock valued at $1,622,000 after purchasing an additional 49,320 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Plains GP in the third quarter valued at approximately $13,848,000. Linscomb Wealth Inc. increased its holdings in shares of Plains GP by 19.4% in the third quarter. Linscomb Wealth Inc. now owns 313,100 shares of the pipeline company’s stock valued at $5,792,000 after purchasing an additional 50,859 shares during the period. Finally, Entropy Technologies LP raised its stake in shares of Plains GP by 29.9% during the third quarter. Entropy Technologies LP now owns 48,052 shares of the pipeline company’s stock worth $889,000 after purchasing an additional 11,073 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PAGP shares. Wolfe Research raised shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Plains GP presently has an average rating of “Hold” and an average price target of $19.88.

Plains GP Price Performance

Shares of NYSE:PAGP opened at $18.87 on Tuesday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 22.20 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The business’s 50 day simple moving average is $18.47 and its 200-day simple moving average is $18.58. Plains GP Holdings, L.P. has a 12 month low of $14.93 and a 12 month high of $20.10.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 6.73%. Plains GP’s payout ratio is 149.41%.

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.