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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been given an average recommendation of “Hold” by the nine brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $20.1429.

A number of research analysts recently commented on the stock. Mizuho set a $23.00 target price on shares of Plains GP in a research report on Friday, January 23rd. Bank of America lowered Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a report on Wednesday, January 28th. Zacks Research cut Plains GP from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Morgan Stanley upped their target price on Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Finally, Raymond James Financial dropped their price target on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PAGP. Huntington National Bank purchased a new stake in shares of Plains GP in the second quarter valued at about $31,000. Whittier Trust Co. of Nevada Inc. raised its stake in 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 acquiring an additional 645 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Plains GP by 378.9% during 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 acquired a new stake in Plains GP during the 3rd quarter worth approximately $46,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Plains GP in the 2nd quarter valued at approximately $51,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Performance

Shares of Plains GP stock opened at $21.10 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP has a 52 week low of $16.60 and a 52 week high of $21.97. The firm’s 50 day moving average is $19.49 and its two-hundred day moving average is $18.77. The firm has a market capitalization of $4.18 billion, a P/E ratio of 39.81 and a beta of 0.57.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Friday, January 30th. Plains GP’s payout ratio is presently 179.57%.

Plains GP Company Profile

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.