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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.3636.

Several equities research analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Barclays increased their price target on Plains GP from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. US Capital Advisors lowered Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Morgan Stanley upped their price objective on Plains GP from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Finally, Zacks Research raised Plains GP from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd.

Plains GP Stock Up 1.5%

Shares of NYSE:PAGP opened at $26.66 on Thursday. The company’s fifty day moving average is $24.80 and its two-hundred day moving average is $23.40. 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 has a 1-year low of $16.68 and a 1-year high of $26.78. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 50.30 and a beta of 0.45.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 6.3%. Plains GP’s dividend payout ratio is currently 172.16%.

Institutional Trading of Plains GP

Large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in Plains GP by 86.3% in the 1st quarter. Bank of America Corp DE now owns 3,752,707 shares of the pipeline company’s stock valued at $91,116,000 after purchasing an additional 1,738,351 shares during the last quarter. Pathstone Holdings LLC grew its position in Plains GP by 227.5% in the 3rd quarter. Pathstone Holdings LLC now owns 2,055,395 shares of the pipeline company’s stock worth $37,490,000 after purchasing an additional 1,427,743 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Plains GP by 46.1% in the third quarter. Qube Research & Technologies Ltd now owns 1,446,983 shares of the pipeline company’s stock valued at $26,393,000 after purchasing an additional 456,426 shares during the period. Engineers Gate Manager LP increased its stake in shares of Plains GP by 510.6% in the fourth quarter. Engineers Gate Manager LP now owns 519,600 shares of the pipeline company’s stock valued at $9,945,000 after purchasing an additional 434,499 shares during the period. Finally, Miller Howard Investments Inc. NY raised its holdings in shares of Plains GP by 25.8% during the first quarter. Miller Howard Investments Inc. NY now owns 1,421,518 shares of the pipeline company’s stock valued at $34,514,000 after buying an additional 291,397 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.