Drucker Wealth 3.0 LLC Sells 16,095 Shares of Plains GP Holdings, L.P. $PAGP

Drucker Wealth 3.0 LLC lessened its holdings in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 29.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,580 shares of the pipeline company’s stock after selling 16,095 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Plains GP were worth $755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAGP. Catalyst Capital Advisors LLC increased its position in shares of Plains GP by 18.0% during the first quarter. Catalyst Capital Advisors LLC now owns 885,873 shares of the pipeline company’s stock worth $18,922,000 after acquiring an additional 134,943 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Plains GP by 15.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 329,813 shares of the pipeline company’s stock worth $7,045,000 after purchasing an additional 44,948 shares in the last quarter. Cetera Investment Advisers increased its holdings in Plains GP by 7.4% during the 1st quarter. Cetera Investment Advisers now owns 194,723 shares of the pipeline company’s stock worth $4,159,000 after purchasing an additional 13,424 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Plains GP by 434.4% during the first quarter. Janney Montgomery Scott LLC now owns 196,584 shares of the pipeline company’s stock worth $4,199,000 after buying an additional 159,795 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Plains GP by 70.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 110,504 shares of the pipeline company’s stock worth $2,360,000 after buying an additional 45,577 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Down 2.1%

Plains GP stock opened at $16.85 on Friday. Plains GP Holdings, L.P. has a twelve month low of $16.60 and a twelve month high of $22.31. The firm has a 50 day moving average price of $18.64 and a 200-day moving average price of $18.87. The company has a market capitalization of $3.33 billion, a P/E ratio of 31.79 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend is Friday, October 31st. Plains GP’s dividend payout ratio is 220.29%.

Analyst Upgrades and Downgrades

PAGP has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Morgan Stanley reduced their price objective on shares of Plains GP from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Mizuho upped their price objective on shares of Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 18th. Barclays reduced their target price on Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday. Finally, Zacks Research lowered Plains GP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.38.

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.