Plains GP Holdings, L.P. (NYSE:PAGP) Given Consensus Recommendation of “Hold” by Analysts

Plains GP Holdings, L.P. (NYSE:PAGP) has received an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $20.3750.

Several research firms have recently issued reports on PAGP. Raymond James Financial reduced their price objective on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 24th. Barclays decreased their price target on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley increased their price objective on shares of Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. JPMorgan Chase & Co. cut their price objective on Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 18th. Finally, Zacks Research upgraded Plains GP from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th.

Institutional Investors Weigh In On Plains GP

Several large investors have recently bought and sold shares of PAGP. Huntington National Bank bought a new position in Plains GP during the second quarter valued at $31,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Plains GP by 56.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock valued at $32,000 after buying an additional 645 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Plains GP by 378.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 1,580 shares during the last quarter. Larson Financial Group LLC purchased a new position in Plains GP in the third quarter worth about $46,000. Finally, Ameritas Advisory Services LLC bought a new stake in Plains GP during the second quarter worth approximately $51,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Stock Down 1.9%

Shares of PAGP opened at $18.68 on Wednesday. The business’s 50 day moving average is $17.86 and its 200 day moving average is $18.62. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP has a 12-month low of $16.60 and a 12-month high of $22.31. The company has a market capitalization of $3.70 billion, a PE ratio of 35.25 and a beta of 0.57.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend was Friday, October 31st. Plains GP’s dividend payout ratio is 163.44%.

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.