Moors & Cabot Inc. Has $4.77 Million Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Moors & Cabot Inc. trimmed its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 257,554 shares of the pipeline company’s stock after selling 1,941 shares during the quarter. Moors & Cabot Inc.’s holdings in Plains GP were worth $4,765,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PAGP. ORG Partners LLC bought a new position in shares of Plains GP during the second quarter valued at about $44,000. CWM LLC increased its holdings in Plains GP by 61.0% during the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after buying an additional 1,147 shares during the last quarter. Hara Capital LLC purchased a new stake in Plains GP during the third quarter worth about $57,000. Unique Wealth Strategies LLC purchased a new stake in Plains GP during the second quarter worth about $70,000. Finally, Eastern Bank purchased a new position in shares of Plains GP in the third quarter worth about $76,000. 88.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PAGP. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wolfe Research upgraded shares of 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 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 given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Plains GP presently has an average rating of “Hold” and a consensus target price of $19.88.

Plains GP Trading Up 0.9 %

Shares of PAGP traded up $0.17 during mid-day trading on Wednesday, reaching $18.74. The company’s stock had a trading volume of 56,009 shares, compared to its average volume of 1,737,226. The stock has a market cap of $3.70 billion, a PE ratio of 21.85 and a beta of 1.54. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP Holdings, L.P. has a 52 week low of $14.93 and a 52 week high of $20.10. The company’s fifty day moving average price is $18.43 and its two-hundred day moving average price is $18.57.

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 issued a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.78%. Plains GP’s payout ratio is 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.