Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.67 Average PT from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have received an average recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

A number of research analysts have issued reports on PAGP shares. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, January 10th. Barclays reduced their price objective on Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday. Raymond James upped their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley lifted their price target on Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 25th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of Plains GP by 13.0% during the third quarter. Stifel Financial Corp now owns 687,257 shares of the pipeline company’s stock worth $12,714,000 after buying an additional 78,845 shares in the last quarter. State Street Corp boosted its position in Plains GP by 17.1% during the third quarter. State Street Corp now owns 640,918 shares of the pipeline company’s stock worth $11,857,000 after acquiring an additional 93,643 shares during the last quarter. Continuum Advisory LLC grew its stake in Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after acquiring an additional 637 shares during the period. Vestcor Inc raised its holdings in Plains GP by 79.1% in the 3rd quarter. Vestcor Inc now owns 78,442 shares of the pipeline company’s stock valued at $1,451,000 after acquiring an additional 34,633 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Plains GP by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 156,635 shares of the pipeline company’s stock worth $2,898,000 after purchasing an additional 3,582 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

NYSE:PAGP opened at $17.87 on Friday. The firm’s fifty day simple moving average is $20.66 and its 200-day simple moving average is $19.68. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.53 billion, a PE ratio of 33.72 and a beta of 1.11. Plains GP has a fifty-two week low of $16.61 and a fifty-two week high of $22.31.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.51%. The ex-dividend date is Thursday, May 1st. Plains GP’s payout ratio is currently 286.79%.

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.