Plains GP Holdings LP (NYSE:PAGP) has been given an average rating of “Buy” by the twenty research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $28.69.
PAGP has been the subject of a number of research reports. Zacks Investment Research upgraded Plains GP from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Saturday, January 19th. ValuEngine upgraded Plains GP from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Evercore ISI initiated coverage on Plains GP in a research note on Tuesday, February 5th. They issued a $24.00 price objective for the company.
Several large investors have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Plains GP by 5.1% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,843,712 shares of the pipeline company’s stock valued at $197,859,000 after purchasing an additional 477,509 shares during the period. Chickasaw Capital Management LLC increased its holdings in shares of Plains GP by 8.3% in the first quarter. Chickasaw Capital Management LLC now owns 8,011,666 shares of the pipeline company’s stock valued at $199,651,000 after purchasing an additional 610,930 shares during the period. Cohen & Steers Inc. grew its holdings in Plains GP by 296.3% during the fourth quarter. Cohen & Steers Inc. now owns 4,917,057 shares of the pipeline company’s stock worth $98,833,000 after acquiring an additional 3,676,379 shares during the period. Energy Income Partners LLC acquired a new position in Plains GP during the fourth quarter worth $81,279,000. Finally, Canyon Capital Advisors LLC grew its holdings in Plains GP by 3.8% during the first quarter. Canyon Capital Advisors LLC now owns 3,256,377 shares of the pipeline company’s stock worth $81,149,000 after acquiring an additional 119,525 shares during the period. 84.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PAGP opened at $24.74 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.02 and a quick ratio of 0.84. Plains GP has a twelve month low of $19.17 and a twelve month high of $27.00. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 11.73 and a beta of 1.20.
Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Tuesday, May 7th. The pipeline company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.49. Plains GP had a return on equity of 3.41% and a net margin of 1.31%. The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $10.54 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Plains GP will post 1.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.82%. This is a positive change from Plains GP’s previous quarterly dividend of $0.30. Plains GP’s payout ratio is presently 68.25%.
About Plains GP
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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