Plains GP Holdings, L.P. (NYSE:PAGP) Given Average Rating of “Hold” by Brokerages

Plains GP Holdings, L.P. (NYSE:PAGP) has been given an average rating of “Hold” by the ten analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.60.

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Raymond James boosted their price target on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PAGP. Tortoise Capital Advisors L.L.C. raised its stake in Plains GP by 8.0% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock valued at $229,989,000 after buying an additional 927,855 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after buying an additional 1,629,008 shares in the last quarter. Clearbridge Investments LLC raised its stake in Plains GP by 11.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock valued at $113,077,000 after buying an additional 646,130 shares in the last quarter. Two Sigma Advisers LP raised its stake in Plains GP by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company’s stock valued at $73,610,000 after buying an additional 19,900 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Plains GP by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company’s stock valued at $58,213,000 after buying an additional 288,430 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Price Performance

PAGP stock opened at $21.34 on Monday. Plains GP has a 52-week low of $17.17 and a 52-week high of $22.31. The stock’s fifty day simple moving average is $21.23 and its 200-day simple moving average is $19.56. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 40.26 and a beta of 1.55.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.38 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.12%. Plains GP’s payout ratio is 286.79%.

Plains GP Company 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.