Goodman Financial Corp Buys 38,081 Shares of Plains GP Holdings, L.P. $PAGP

Goodman Financial Corp grew its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 808,679 shares of the pipeline company’s stock after buying an additional 38,081 shares during the period. Plains GP accounts for about 2.9% of Goodman Financial Corp’s holdings, making the stock its 13th biggest holding. Goodman Financial Corp’s holdings in Plains GP were worth $15,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Plains GP by 56.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 645 shares during the period. Larson Financial Group LLC acquired a new stake in Plains GP during the 3rd quarter valued at approximately $46,000. Lazard Asset Management LLC increased its position in Plains GP by 36.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 811 shares during the period. Asset Dedication LLC bought a new position in Plains GP during the 2nd quarter worth approximately $83,000. Finally, CWM LLC raised its holdings in Plains GP by 159.3% during the 3rd quarter. CWM LLC now owns 7,477 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 4,594 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Down 0.2%

Plains GP stock opened at $23.67 on Monday. The company has a market capitalization of $4.68 billion, a PE ratio of 44.66 and a beta of 0.56. Plains GP Holdings, L.P. has a 12-month low of $16.60 and a 12-month high of $24.04. The firm’s fifty day moving average is $21.75 and its 200 day moving average is $19.49. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.4175 per share. The ex-dividend date was Friday, January 30th. This represents a $1.67 annualized dividend and a dividend yield of 7.1%. Plains GP’s dividend payout ratio is currently 129.46%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PAGP. Citigroup boosted their price target on shares of Plains GP from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Wells Fargo & Company lifted their target price on shares of Plains GP from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Bank of America lowered shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Wednesday, January 28th. Zacks Research cut shares of Plains GP from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. Finally, Morgan Stanley increased their price target on Plains GP from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.44.

About Plains GP

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.