Massachusetts Financial Services Co. MA Sells 40,870 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

Massachusetts Financial Services Co. MA reduced its stake in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,983,368 shares of the pipeline company's stock after selling 40,870 shares during the quarter. Massachusetts Financial Services Co. MA owned about 5.06% of Plains GP worth $184,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC purchased a new position in Plains GP in the second quarter worth $44,000. CWM LLC increased its position 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 valued at $57,000 after purchasing an additional 1,147 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Plains GP during the 3rd quarter valued at about $57,000. Unique Wealth Strategies LLC purchased a new stake in Plains GP in the second quarter worth approximately $70,000. Finally, Eastern Bank bought a new position in Plains GP during the third quarter valued at approximately $76,000. 88.30% of the stock is currently owned by institutional investors.

Plains GP Trading Up 0.3 %

PAGP traded up $0.06 during midday trading on Friday, reaching $19.25. 821,924 shares of the company's stock traded hands, compared to its average volume of 1,872,968. Plains GP Holdings, L.P. has a 52 week low of $14.93 and a 52 week 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 0.92. The firm has a fifty day moving average of $18.47 and a two-hundred day moving average of $18.58. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 22.65 and a beta of 1.54.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 6.60%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP's dividend payout ratio (DPR) is currently 149.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PAGP shares. StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Morgan Stanley downgraded 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 note on Friday, October 25th. Finally, Wolfe Research raised Plains GP to a "hold" rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Plains GP presently has an average rating of "Hold" and a consensus target price of $19.88.

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.