Entropy Technologies LP Has $889,000 Stock Holdings in Plains GP Holdings, L.P. (NYSE:PAGP)

Entropy Technologies LP raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 29.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 48,052 shares of the pipeline company’s stock after purchasing an additional 11,073 shares during the period. Entropy Technologies LP’s holdings in Plains GP were worth $889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PAGP. Tortoise Capital Advisors L.L.C. raised its holdings 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 worth $219,572,000 after acquiring an additional 703,158 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Plains GP by 13.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,280,460 shares of the pipeline company’s stock worth $96,368,000 after purchasing an additional 634,929 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Plains GP during the 2nd quarter valued at about $11,442,000. SIR Capital Management L.P. bought a new stake in shares of Plains GP in the 2nd quarter valued at approximately $8,849,000. Finally, Bahl & Gaynor Inc. increased its holdings in Plains GP by 82.7% in the first quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company’s stock worth $16,817,000 after buying an additional 417,031 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Stock Performance

Shares of PAGP opened at $17.96 on Thursday. The company has a market capitalization of $3.55 billion, a PE ratio of 21.06 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.90. Plains GP Holdings, L.P. has a one year low of $14.93 and a one year high of $20.10. The company’s fifty day moving average price is $18.47 and its 200 day moving average price is $18.57.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.07%. Plains GP’s dividend payout ratio is presently 149.41%.

Analyst Upgrades and Downgrades

PAGP has been the subject of a number of analyst reports. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Wolfe Research raised shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.88.

About Plains GP

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.