Plains GP Holdings, L.P. (NYSE:PAGP) Receives Consensus Recommendation of “Hold” from Brokerages

Plains GP Holdings, L.P. (NYSE:PAGPGet Rating) has earned an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $13.56.

PAGP has been the topic of a number of analyst reports. Credit Suisse Group raised shares of Plains GP from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $13.00 to $14.00 in a report on Thursday, May 12th. StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a report on Monday, April 18th. Raymond James boosted their price target on shares of Plains GP from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Zacks Investment Research downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Finally, Morgan Stanley boosted their price target on shares of Plains GP from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, April 26th.

A number of institutional investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its stake in Plains GP by 3.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 70,338 shares of the pipeline company’s stock valued at $813,000 after acquiring an additional 2,200 shares during the period. Cowa LLC increased its position in shares of Plains GP by 62.2% during the first quarter. Cowa LLC now owns 28,812 shares of the pipeline company’s stock valued at $333,000 after buying an additional 11,048 shares during the period. Royal Bank of Canada increased its position in shares of Plains GP by 6.8% during the first quarter. Royal Bank of Canada now owns 163,607 shares of the pipeline company’s stock valued at $1,891,000 after buying an additional 10,418 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Plains GP during the first quarter valued at about $969,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Plains GP by 60.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock valued at $39,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 90.45% of the company’s stock.

PAGP traded up $0.10 during mid-day trading on Friday, reaching $11.91. 34,851 shares of the stock were exchanged, compared to its average volume of 3,132,562. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.88 and a current ratio of 0.94. The stock has a market capitalization of $2.31 billion, a PE ratio of 169.43 and a beta of 1.76. The company has a 50 day moving average price of $11.61 and a two-hundred day moving average price of $11.21. Plains GP has a 1 year low of $9.24 and a 1 year high of $12.95.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were paid a $0.2175 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.18. This represents a $0.87 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date was Thursday, April 28th. Plains GP’s payout ratio is currently 1,242.86%.

About Plains GP (Get Rating)

Plains GP Holdings, L.P., together with its subsidiaries, owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.

Further Reading

Analyst Recommendations for Plains GP (NYSE:PAGP)

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