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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.5455.

Several equities analysts recently weighed in on the company. Morgan Stanley increased their target price on Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Barclays upped their price objective on shares of Plains GP from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. 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 report on Wednesday, July 15th. Wells Fargo & Company raised their target price on shares of Plains GP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Finally, The Goldman Sachs Group raised shares of Plains GP from a “sell” rating to a “neutral” rating and upped their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd.

Institutional Investors Weigh In On Plains GP

Institutional investors have recently added to or reduced their stakes in the company. First Bancorp Inc ME purchased a new position in shares of Plains GP in the 2nd quarter worth about $30,000. North Star Investment Management Corp. acquired a new stake in Plains GP during the 1st quarter worth approximately $56,000. Continuum Advisory LLC acquired a new stake in Plains GP during the 2nd quarter worth approximately $61,000. Larson Financial Group LLC purchased a new position in Plains GP in the third quarter valued at approximately $46,000. Finally, Ameritas Advisory Services LLC purchased a new position in Plains GP in the second quarter valued at approximately $64,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Price Performance

PAGP stock opened at $27.97 on Monday. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 52.77 and a beta of 0.46. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP has a 52-week low of $16.68 and a 52-week high of $28.28. The stock’s fifty day simple moving average is $25.52 and its 200-day simple moving average is $24.28.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, July 31st. Plains GP’s dividend payout ratio (DPR) is 59.86%.

About Plains GP

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.