Plains GP (NYSE:PAGP) Given New $22.00 Price Target at Mizuho

Plains GP (NYSE:PAGP) had its price target increased by Mizuho from $20.00 to $22.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the pipeline company’s stock.

A number of other research firms have also recently weighed in on PAGP. Citigroup dropped their price target on Plains GP from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. increased their price target on Plains GP from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays dropped their price target on Plains GP from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley increased their price target on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. Finally, Wall Street Zen upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Plains GP currently has an average rating of “Hold” and a consensus target price of $20.88.

Plains GP Stock Up 4.2%

PAGP opened at $19.75 on Wednesday. Plains GP has a 1-year low of $16.61 and a 1-year high of $22.31. The stock’s fifty day simple moving average is $18.40 and its 200 day simple moving average is $19.65. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.91 billion, a PE ratio of 37.26 and a beta of 0.63.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.70%. The ex-dividend date of this dividend was Thursday, May 1st. Plains GP’s dividend payout ratio is 205.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAGP. Jones Financial Companies Lllp grew its holdings in shares of Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 520 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 2,355 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Plains GP during the 4th quarter worth $44,000. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock worth $81,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Plains GP during the 4th quarter worth $90,000. 88.30% of the stock is owned by institutional investors and hedge funds.

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.