Moors & Cabot Inc. Sells 1,941 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Moors & Cabot Inc. lessened its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 257,554 shares of the pipeline company’s stock after selling 1,941 shares during the period. Moors & Cabot Inc. owned approximately 0.13% of Plains GP worth $4,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in shares of Plains GP during the 2nd quarter worth approximately $44,000. CWM LLC lifted its holdings in shares of 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 period. Hara Capital LLC bought a new stake in shares of Plains GP during the 3rd quarter worth approximately $57,000. Unique Wealth Strategies LLC bought a new position in Plains GP in the 2nd quarter valued at approximately $70,000. Finally, Eastern Bank bought a new position in Plains GP in the 3rd quarter valued at approximately $76,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Up 0.9 %

NYSE:PAGP traded up $0.17 during trading hours on Wednesday, reaching $18.74. The company had a trading volume of 56,009 shares, compared to its average volume of 1,737,226. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 21.85 and a beta of 1.54. The business’s 50-day simple moving average is $18.43 and its two-hundred day simple moving average is $18.57. Plains GP Holdings, L.P. has a twelve month low of $14.93 and a twelve month high of $20.10.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date was Thursday, October 31st. Plains GP’s payout ratio is 149.41%.

Analyst Ratings Changes

PAGP has been the subject of several research reports. Wolfe Research raised shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.