Entropy Technologies LP Has $889,000 Stake in Plains GP Holdings, L.P. (NYSE:PAGP)

Entropy Technologies LP increased its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 29.9% in the 3rd quarter, Holdings Channel reports. The firm owned 48,052 shares of the pipeline company’s stock after purchasing an additional 11,073 shares during the period. Entropy Technologies LP’s holdings in Plains GP were worth $889,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in PAGP. ORG Partners LLC bought a new position in shares of Plains GP in the second quarter valued at approximately $44,000. CWM LLC lifted its position in Plains GP by 61.0% during 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 last quarter. Hara Capital LLC acquired a new position in Plains GP during the 3rd quarter worth $57,000. Unique Wealth Strategies LLC bought a new stake in Plains GP during the second quarter valued at about $70,000. Finally, Eastern Bank acquired a new stake in shares of Plains GP in the third quarter valued at about $76,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Up 0.3 %

Shares of PAGP stock opened at $17.96 on Thursday. Plains GP Holdings, L.P. has a one year low of $14.93 and a one year high of $20.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.90. The stock has a fifty day moving average price of $18.47 and a 200 day moving average price of $18.57. The stock has a market cap of $3.55 billion, a P/E ratio of 21.06 and a beta of 1.54.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.07%. Plains GP’s dividend payout ratio (DPR) is currently 149.41%.

Analysts Set New Price Targets

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

Plains GP Company 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.