Plains GP Holdings, L.P. (PAGP) to Distribute Quarterly Dividend of $0.42 on November 13th

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Thursday, October 1st. Shareholders of record on Friday, October 30th will be paid a dividend of $0.4175 per share by the pipeline company on Friday, November 13th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, October 30th.

Plains GP has increased its dividend by an average of 0.1% annually over the last three years. Plains GP has a 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 Price Performance

Shares of NYSE:PAGP opened at $28.44 on Wednesday. The firm has a market capitalization of $5.63 billion, a PE ratio of 53.66 and a beta of 0.54. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP has a 1-year low of $16.89 and a 1-year high of $28.92. The business’s 50 day moving average is $27.30 and its 200-day moving average is $24.50.

Plains GP Company Profile

Plains GP Holdings, L.P. (NYSE:PAGP) is a publicly traded holding company that owns and controls the general partner of Plains All American Pipeline, L.P. Through this ownership interest, Plains GP Holdings is linked to the operations of one of North America’s major midstream energy companies.

Plains All American Pipeline provides transportation, storage, terminalling, gathering, and other logistics services for crude oil and natural gas liquids. Its infrastructure includes pipelines, storage facilities, gathering systems, rail and truck terminals, and other assets used to move energy commodities from producing regions to refineries, processing facilities, and other markets.

The company’s operations primarily serve customers in the United States and Canada, with activity concentrated in key oil- and liquids-producing regions and connected transportation corridors.