Plains GP Holdings, L.P. (NYSE:PAGP) Declares Quarterly Dividend of $0.42

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Monday, July 6th. Investors of record on Friday, July 31st will be given a dividend of 0.4175 per share by the pipeline company on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Friday, July 31st.

Plains GP has raised its dividend payment by an average of 0.1%per year over the last three years. Plains GP has a dividend payout ratio of 105.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Plains GP to earn $1.87 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 89.3%.

Plains GP Stock Up 1.2%

Shares of PAGP stock traded up $0.30 during trading hours on Wednesday, hitting $24.95. 1,149,461 shares of the company were exchanged, compared to its average volume of 1,857,740. Plains GP has a one year low of $16.68 and a one year high of $26.15. The business’s 50-day simple moving average is $24.27 and its two-hundred day simple moving average is $22.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 47.08 and a beta of 0.45.

Institutional Investors Weigh In On Plains GP

A number of large investors have recently added to or reduced their stakes in PAGP. CWM LLC boosted its stake in Plains GP by 8.5% in the 4th quarter. CWM LLC now owns 8,113 shares of the pipeline company’s stock valued at $155,000 after purchasing an additional 636 shares during the period. Diesslin Group Inc. increased its position in Plains GP by 0.8% during the 2nd quarter. Diesslin Group Inc. now owns 82,841 shares of the pipeline company’s stock valued at $2,011,000 after purchasing an additional 664 shares during the period. McIlrath & Eck LLC increased its stake in shares of Plains GP by 5.9% in the 1st quarter. McIlrath & Eck LLC now owns 12,133 shares of the pipeline company’s stock valued at $295,000 after acquiring an additional 677 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Plains GP by 1.8% during the first quarter. Quantinno Capital Management LP now owns 40,208 shares of the pipeline company’s stock worth $976,000 after acquiring an additional 698 shares in the last quarter. Finally, IVC Wealth Advisors LLC boosted its stake in shares of Plains GP by 4.7% in the 1st quarter. IVC Wealth Advisors LLC now owns 16,105 shares of the pipeline company’s stock worth $391,000 after buying an additional 722 shares during the last quarter. Institutional investors 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.