Analysts Set Plains GP Holdings, L.P. (NYSE:PAGP) Price Target at $19.88

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned a consensus rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.88.

PAGP has been the topic of several recent analyst reports. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Wolfe Research raised shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Finally, StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

Institutional Trading of Plains GP

Institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers grew its position in shares of Plains GP by 644.7% in the first quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company’s stock valued at $2,828,000 after purchasing an additional 134,153 shares during the period. Bank of New York Mellon Corp purchased a new stake in Plains GP in the 2nd quarter valued at about $566,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after acquiring an additional 53,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Plains GP during the 3rd quarter worth about $4,013,000. Finally, Kesler Norman & Wride LLC acquired a new stake in shares of Plains GP in the third quarter worth approximately $523,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Stock Down 1.5 %

Shares of Plains GP stock opened at $19.29 on Friday. Plains GP has a 52-week low of $14.93 and a 52-week high of $20.10. The company has a 50 day moving average of $18.61 and a 200 day moving average of $18.67. 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 company has a market capitalization of $3.81 billion, a P/E ratio of 22.69 and a beta of 1.57.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 6.58%. The ex-dividend date was Thursday, October 31st. Plains GP’s dividend payout ratio (DPR) is 149.41%.

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.