Analysts Set Plains GP Holdings, L.P. (NYSE:PAGP) Price Target at $20.50

Plains GP Holdings, L.P. (NYSE:PAGP) has received a consensus rating of “Hold” from the nine analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $20.3750.

A number of analysts have recently weighed in on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains GP in a research report on Friday, July 25th. Zacks Research downgraded shares of Plains GP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Barclays cut their price objective on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Finally, Mizuho increased their price objective on shares of Plains GP from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, June 18th.

Plains GP Stock Down 0.6%

NYSE:PAGP opened at $17.83 on Friday. The firm’s 50-day moving average price is $18.78 and its 200-day moving average price is $18.94. The company has a market capitalization of $3.53 billion, a PE ratio of 33.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP has a 1-year low of $16.60 and a 1-year high of $22.31.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend is Friday, October 31st. Plains GP’s dividend payout ratio is 220.29%.

Institutional Trading of Plains GP

Several institutional investors have recently bought and sold shares of PAGP. Huntington National Bank purchased a new stake in Plains GP during the 2nd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of 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. Ameritas Advisory Services LLC purchased a new stake in shares of Plains GP during the 2nd quarter valued at about $51,000. CWM LLC boosted its holdings in shares of Plains GP by 394.5% during the 2nd quarter. CWM LLC now owns 2,883 shares of the pipeline company’s stock valued at $56,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Plains GP by 36.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 811 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.