Shares of Plains GP Holdings LP (NYSE:PAGP) have been given a consensus recommendation of “Buy” by the nine brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $22.20.
Several research firms have recently commented on PAGP. Barclays raised Plains GP from an “equal weight” rating to an “overweight” rating and set a $24.00 target price for the company in a research note on Tuesday, January 14th. Zacks Investment Research raised Plains GP from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Morgan Stanley began coverage on Plains GP in a research note on Monday, January 6th. They issued an “equal weight” rating and a $19.00 target price for the company. Goldman Sachs Group raised Plains GP from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Thursday, February 6th. Finally, ValuEngine raised Plains GP from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th.
In related news, Director Everardo Goyanes acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $17.91 per share, with a total value of $358,200.00. Following the completion of the purchase, the director now directly owns 57,305 shares in the company, valued at $1,026,332.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Willie Cw Chiang acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of $17.14 per share, with a total value of $1,028,400.00. Following the completion of the purchase, the chief executive officer now owns 135,104 shares of the company’s stock, valued at $2,315,682.56. The disclosure for this purchase can be found here. 16.31% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in PAGP. Amundi Pioneer Asset Management Inc. boosted its position in shares of Plains GP by 5.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 163,926 shares of the pipeline company’s stock worth $4,085,000 after buying an additional 8,694 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Plains GP by 236.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,741 shares of the pipeline company’s stock worth $119,000 after buying an additional 3,330 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Plains GP in the third quarter worth about $72,000. DNB Asset Management AS boosted its position in shares of Plains GP by 1.2% in the third quarter. DNB Asset Management AS now owns 137,236 shares of the pipeline company’s stock worth $2,914,000 after buying an additional 1,593 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Plains GP in the third quarter worth about $5,696,000. 85.89% of the stock is owned by institutional investors and hedge funds.
NYSE PAGP opened at $16.98 on Friday. The stock has a fifty day moving average of $18.23 and a 200-day moving average of $19.76. The stock has a market capitalization of $3.04 billion, a P/E ratio of 8.53 and a beta of 1.24. Plains GP has a 52 week low of $15.79 and a 52 week high of $25.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.96.
Plains GP (NYSE:PAGP) last released its earnings results on Tuesday, February 4th. The pipeline company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.30). The firm had revenue of $9.15 billion during the quarter, compared to analyst estimates of $7.59 billion. Plains GP had a net margin of 0.98% and a return on equity of 2.32%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.12 earnings per share. Equities research analysts forecast that Plains GP will post 1.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, January 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.48%. Plains GP’s dividend payout ratio (DPR) is presently 73.47%.
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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