Plains GP (NYSE:PAGP) Sets New 12-Month High at $16.09

Plains GP Holdings, L.P. (NYSE:PAGP)’s stock price reached a new 52-week high on Monday . The company traded as high as $16.09 and last traded at $16.07, with a volume of 105493 shares. The stock had previously closed at $15.97.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PAGP shares. StockNews.com started coverage on shares of Plains GP in a research report on Thursday, August 17th. They set a “hold” rating for the company. Mizuho increased their price objective on shares of Plains GP from $17.00 to $19.00 in a research report on Wednesday, July 12th. Morgan Stanley increased their price objective on shares of Plains GP from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, July 20th. Finally, Raymond James increased their price objective on shares of Plains GP from $17.00 to $18.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 21st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.56.

Plains GP Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.00. The company has a market cap of $3.14 billion, a PE ratio of 13.48 and a beta of 1.64. The company’s 50-day simple moving average is $15.36 and its 200 day simple moving average is $14.19.

Plains GP (NYSE:PAGP) last issued its quarterly earnings results on Friday, August 4th. The pipeline company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.14 by $0.11. Plains GP had a net margin of 0.45% and a return on equity of 1.59%. The company had revenue of $11.60 billion during the quarter, compared to analysts’ expectations of $16.84 billion. On average, sell-side analysts predict that Plains GP Holdings, L.P. will post 1.14 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a dividend of $0.2675 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $1.07 annualized dividend and a dividend yield of 6.67%. Plains GP’s dividend payout ratio (DPR) is currently 89.92%.

Institutional Investors Weigh In On Plains GP

Several institutional investors have recently modified their holdings of PAGP. Allspring Global Investments Holdings LLC purchased a new stake in shares of Plains GP during the 2nd quarter worth $26,000. Geneos Wealth Management Inc. lifted its position in shares of Plains GP by 149.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,171 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 1,300 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Plains GP during the 1st quarter worth $40,000. National Bank of Canada FI acquired a new stake in Plains GP during the 2nd quarter worth $53,000. Finally, Pinnacle Holdings LLC raised its stake in Plains GP by 35.8% during the 1st quarter. Pinnacle Holdings LLC now owns 4,867 shares of the pipeline company’s stock worth $64,000 after acquiring an additional 1,282 shares in the last quarter. 84.45% of the stock is owned by hedge funds and other institutional investors.

Plains GP Company Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., 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.