Plains GP Holdings, L.P. (NYSE:PAGP) Receives $19.55 Consensus PT from Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have received an average rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $19.55.

A number of analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Stifel Nicolaus increased their price objective on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group increased their price objective on shares of Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Finally, Barclays increased their price objective on shares of Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th.

Plains GP Stock Down 3.8 %

PAGP opened at $18.21 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Plains GP has a 1-year low of $12.59 and a 1-year high of $19.77. The company has a market capitalization of $3.59 billion, a PE ratio of 17.85 and a beta of 1.55. The firm’s 50 day simple moving average is $18.07 and its two-hundred day simple moving average is $16.77.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.88 billion. As a group, equities analysts forecast that Plains GP will post 1.05 EPS for the current year.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.3175 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. Plains GP’s dividend payout ratio (DPR) is presently 124.51%.

Institutional Investors Weigh In On Plains GP

Several institutional investors have recently made changes to their positions in PAGP. Allspring Global Investments Holdings LLC lifted its holdings in Plains GP by 3,286.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,350 shares of the pipeline company’s stock valued at $408,000 after buying an additional 21,690 shares in the last quarter. Marks Group Wealth Management Inc bought a new stake in Plains GP during the 1st quarter valued at about $826,000. Spire Wealth Management lifted its holdings in Plains GP by 22.0% during the 1st quarter. Spire Wealth Management now owns 3,740 shares of the pipeline company’s stock valued at $68,000 after buying an additional 674 shares in the last quarter. HF Advisory Group LLC lifted its holdings in Plains GP by 9.8% during the 1st quarter. HF Advisory Group LLC now owns 107,471 shares of the pipeline company’s stock valued at $1,961,000 after buying an additional 9,584 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in Plains GP by 1.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 167,817 shares of the pipeline company’s stock valued at $3,032,000 after buying an additional 2,603 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

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.