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

Goodman Financial Corp decreased its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 779,923 shares of the pipeline company’s stock after selling 13,345 shares during the period. Plains GP accounts for 3.1% of Goodman Financial Corp’s holdings, making the stock its 11th biggest position. Goodman Financial Corp’s holdings in Plains GP were worth $14,335,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Chickasaw Capital Management LLC grew its stake in shares of Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after acquiring an additional 1,629,008 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Plains GP in the 3rd quarter worth approximately $13,848,000. Yaupon Capital Management LP purchased a new stake in Plains GP during the 3rd quarter worth approximately $9,772,000. Raymond James Financial Inc. acquired a new position in Plains GP during the 4th quarter valued at approximately $5,214,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Plains GP in the third quarter worth $4,013,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAGP has been the topic of a number of research analyst reports. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James boosted their price target on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, January 10th. Finally, Barclays upped their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.60.

Plains GP Stock Up 0.2 %

Shares of PAGP stock opened at $21.56 on Friday. Plains GP Holdings, L.P. has a twelve month low of $17.17 and a twelve month high of $22.31. The stock has a market cap of $4.26 billion, a P/E ratio of 40.68 and a beta of 1.55. The stock has a 50 day moving average of $21.20 and a 200 day moving average of $19.55. 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 company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.05%. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains GP’s payout ratio is 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.