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

Plains GP Holdings, L.P. (NYSE:PAGP) has been given a consensus rating of “Hold” by the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $20.6250.

PAGP has been the topic of several analyst reports. Morgan Stanley lifted their target price on Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Citigroup increased their price target on Plains GP from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Barclays boosted their price objective on shares of Plains GP from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. Zacks Research cut shares of Plains GP from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Wells Fargo & Company raised their target price on Plains GP from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, February 9th.

Plains GP Trading Up 1.5%

Shares of Plains GP stock opened at $22.54 on Monday. Plains GP has a 1 year low of $16.60 and a 1 year high of $22.55. The company has a market capitalization of $4.46 billion, a P/E ratio of 42.53 and a beta of 0.57. The company’s fifty day moving average is $20.49 and its two-hundred day moving average is $19.02. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Friday, January 30th. Plains GP’s payout ratio is presently 129.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Plains GP by 2.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,117,959 shares of the pipeline company’s stock worth $196,592,000 after purchasing an additional 247,365 shares in the last quarter. Caprock Group LLC purchased a new stake in Plains GP in the 3rd quarter valued at approximately $3,088,000. Chickasaw Capital Management LLC grew its holdings in Plains GP by 5.9% during the 3rd quarter. Chickasaw Capital Management LLC now owns 8,832,780 shares of the pipeline company’s stock valued at $161,110,000 after buying an additional 494,259 shares during the last quarter. Osaic Holdings Inc. increased its position in Plains GP by 75.3% during the second quarter. Osaic Holdings Inc. now owns 291,320 shares of the pipeline company’s stock worth $5,661,000 after buying an additional 125,169 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC increased its position in Plains GP by 16.8% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 800,863 shares of the pipeline company’s stock worth $14,608,000 after buying an additional 115,020 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

About Plains GP

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.