Plains GP Holdings LP (NYSE:PAGP) has earned an average recommendation of “Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $24.25.
A number of research firms recently issued reports on PAGP. Scotiabank began coverage on Plains GP in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 target price for the company. Barclays set a $24.00 target price on Plains GP and gave the company a “hold” rating in a report on Tuesday, October 15th. ValuEngine upgraded Plains GP from a “strong sell” rating to a “sell” rating in a report on Tuesday. Robert W. Baird upgraded Plains GP from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $22.00 to $21.00 in a report on Monday, December 2nd. Finally, Zacks Investment Research upgraded Plains GP from a “sell” rating to a “hold” rating in a report on Friday, November 8th.
In other Plains GP news, CEO Willie Cw Chiang purchased 60,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $17.14 per share, for a total transaction of $1,028,400.00. Following the completion of the purchase, the chief executive officer now directly owns 135,104 shares in the company, valued at $2,315,682.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Everardo Goyanes purchased 20,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $17.91 per share, for a total transaction of $358,200.00. Following the completion of the purchase, the director now owns 57,305 shares of the company’s stock, valued at $1,026,332.55. The disclosure for this purchase can be found here. Company insiders own 16.31% of the company’s stock.
Shares of PAGP traded up $0.26 during midday trading on Monday, hitting $17.35. 2,174,798 shares of the stock were exchanged, compared to its average volume of 1,762,628. Plains GP has a 52-week low of $16.99 and a 52-week high of $25.82. The stock has a fifty day simple moving average of $18.50 and a 200 day simple moving average of $21.89. The firm has a market cap of $3.16 billion, a P/E ratio of 8.22 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.96.
Plains GP (NYSE:PAGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. Plains GP had a return on equity of 3.30% and a net margin of 1.39%. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $8.15 billion. During the same period last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts forecast that Plains GP will post 2.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.44 dividend on an annualized basis and a yield of 8.30%. Plains GP’s dividend payout ratio (DPR) is presently 68.25%.
Plains GP Company Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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