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

Plains GP Holdings, L.P. (NYSE:PAGP) has been given a consensus rating of “Hold” by the nine analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $20.1250.

Several research analysts have weighed in on PAGP shares. JPMorgan Chase & Co. dropped 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 note on Thursday, September 18th. Raymond James Financial decreased their target price on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Friday. Barclays decreased their target price on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, October 7th. Wolfe Research reissued a “peer perform” rating on shares of Plains GP in a research report on Friday, July 25th. Finally, Zacks Research downgraded shares of Plains GP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th.

Institutional Trading of Plains GP

Several large investors have recently modified their holdings of the company. Stephens Inc. AR boosted its holdings in shares of Plains GP by 4.1% during the 3rd quarter. Stephens Inc. AR now owns 232,813 shares of the pipeline company’s stock worth $4,247,000 after buying an additional 9,243 shares during the period. MGO One Seven LLC bought a new stake in Plains GP in the 3rd quarter valued at $375,000. Bayforest Capital Ltd boosted its holdings in Plains GP by 27.0% in the 3rd quarter. Bayforest Capital Ltd now owns 37,989 shares of the pipeline company’s stock valued at $693,000 after purchasing an additional 8,065 shares during the period. SG Americas Securities LLC boosted its holdings in Plains GP by 67.4% in the 3rd quarter. SG Americas Securities LLC now owns 12,419 shares of the pipeline company’s stock valued at $227,000 after purchasing an additional 5,002 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in Plains GP by 7.8% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 42,700 shares of the pipeline company’s stock valued at $779,000 after purchasing an additional 3,100 shares during the period. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Up 0.5%

Plains GP stock opened at $17.72 on Tuesday. The firm has a market cap of $3.50 billion, a PE ratio of 33.43 and a beta of 0.68. 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 firm’s 50 day moving average price is $18.24 and its two-hundred day moving average price is $18.66. Plains GP has a twelve month low of $16.60 and a twelve month 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 issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Friday, October 31st. Plains GP’s dividend payout ratio is currently 220.29%.

Plains GP Company Profile

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.