Plains GP Holdings LP (PAGP) Given Average Rating of “Hold” by Analysts
Plains GP Holdings LP (NYSE:PAGP) has received a consensus rating of “Hold” from the twenty-two analysts that are currently covering the stock. Eighteen research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $11.89.
A number of equities research analysts recently commented on PAGP shares. Barclays PLC lowered Plains GP Holdings from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $8.00 to $11.00 in a research report on Friday, July 8th. Wells Fargo & Co. raised Plains GP Holdings from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 5th. Evercore ISI lowered Plains GP Holdings from a “buy” rating to a “hold” rating and increased their price target for the company from $9.00 to $10.00 in a research report on Thursday, July 7th. Morgan Stanley increased their price target on Plains GP Holdings from $12.50 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 4th. Finally, Robert W. Baird raised Plains GP Holdings from an “underperform” rating to a “neutral” rating and increased their price target for the company from $5.00 to $12.00 in a research report on Wednesday, July 13th.
Shares of Plains GP Holdings (NYSE:PAGP) traded down 0.557% during midday trading on Thursday, hitting $13.395. 2,586,676 shares of the stock were exchanged. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 24.092 and a beta of 1.55. The stock’s 50-day moving average price is $12.15 and its 200-day moving average price is $10.59. Plains GP Holdings has a 1-year low of $4.72 and a 1-year high of $19.11.
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Plains GP Holdings (NYSE:PAGP) last issued its earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by $0.04. Plains GP Holdings had a return on equity of 1.36% and a net margin of 0.69%. The firm earned $4.95 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. Plains GP Holdings’s revenue for the quarter was down 25.7% on a year-over-year basis. On average, analysts forecast that Plains GP Holdings will post $0.83 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be paid a $0.2065 dividend. The ex-dividend date is Thursday, October 27th. This represents a $0.83 annualized dividend and a yield of 6.13%. Plains GP Holdings’s dividend payout ratio is currently 170.37%.
A number of hedge funds and other institutional investors have recently modified their holdings of PAGP. Harvest Fund Advisors LLC increased its stake in shares of Plains GP Holdings by 34.0% in the first quarter. Harvest Fund Advisors LLC now owns 5,704,595 shares of the company’s stock worth $49,573,000 after buying an additional 1,446,048 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Plains GP Holdings during the first quarter worth about $14,117,000. Alps Advisors Inc. increased its stake in shares of Plains GP Holdings by 1,096.3% in the second quarter. Alps Advisors Inc. now owns 372,112 shares of the company’s stock worth $3,881,000 after buying an additional 341,008 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Plains GP Holdings by 1.6% in the first quarter. UBS Asset Management Americas Inc. now owns 330,186 shares of the company’s stock worth $2,869,000 after buying an additional 5,127 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Plains GP Holdings during the first quarter worth about $107,000. Institutional investors and hedge funds own 76.78% of the company’s stock.
Plains GP Holdings Company Profile
Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products.
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