12,000 Shares in Plains GP Holdings, L.P. (NYSE:PAGP) Bought by IHT Wealth Management LLC

IHT Wealth Management LLC purchased a new position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,000 shares of the pipeline company’s stock, valued at approximately $222,000.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC bought a new stake in shares of Plains GP in the second quarter valued at $44,000. CWM LLC raised its stake in Plains GP by 61.0% in the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 1,147 shares during the period. Hara Capital LLC bought a new stake in shares of Plains GP in the third quarter valued at approximately $57,000. Unique Wealth Strategies LLC bought a new stake in shares of Plains GP in the second quarter valued at approximately $70,000. Finally, Eastern Bank bought a new stake in shares of Plains GP in the third quarter valued at approximately $76,000. 88.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Wolfe Research upgraded Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.88.

Plains GP Stock Down 1.1 %

Shares of NYSE PAGP opened at $19.08 on Wednesday. The business has a 50-day moving average of $18.61 and a 200-day moving average of $18.67. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 22.45 and a beta of 1.57. 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 12 month low of $14.93 and a 12 month high of $20.10.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date was Thursday, October 31st. 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.