Plains GP Holdings, L.P. (NYSE:PAGP) Shares Sold by Fmr LLC

FMR LLC cut its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 824,840 shares of the pipeline company's stock after selling 144,571 shares during the quarter. FMR LLC owned about 0.42% of Plains GP worth $15,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Plains GP by 6.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company's stock valued at $219,572,000 after purchasing an additional 703,158 shares during the period. Westwood Holdings Group Inc. increased its position in shares of Plains GP by 2.1% during the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company's stock worth $101,507,000 after acquiring an additional 113,098 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Plains GP by 1.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company's stock valued at $80,900,000 after acquiring an additional 53,000 shares in the last quarter. Hennessy Advisors Inc. grew its stake in Plains GP by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company's stock worth $34,294,000 after purchasing an additional 279,100 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Plains GP by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company's stock worth $33,965,000 after purchasing an additional 171,217 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Plains GP Stock Performance

Plains GP stock traded up $0.21 during mid-day trading on Wednesday, reaching $19.29. 1,221,684 shares of the company traded hands, compared to its average volume of 1,720,738. Plains GP Holdings, L.P. has a fifty-two week low of $14.93 and a fifty-two week high of $20.10. The firm's fifty day moving average is $18.64 and its two-hundred day moving average is $18.69. 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 company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 22.69 and a beta of 1.57.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.58%. Plains GP's payout ratio is currently 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.