Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.14 Average PT from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have received an average rating of “Hold” from the nine ratings firms that are presently 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 assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.1429.

Several analysts have recently commented on PAGP shares. Morgan Stanley increased their price target on shares of Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Zacks Research lowered Plains GP from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Bank of America downgraded Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a research report on Wednesday, January 28th. Mizuho set a $23.00 price target on Plains GP in a report on Friday, January 23rd. Finally, Raymond James Financial dropped their price objective on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Friday, October 24th.

Institutional Trading of Plains GP

A number of institutional investors have recently bought and sold shares of PAGP. Cibc World Market Inc. lifted its holdings in shares of Plains GP by 3.8% during the 3rd quarter. Cibc World Market Inc. now owns 16,229 shares of the pipeline company’s stock worth $296,000 after acquiring an additional 597 shares during the period. Kesler Norman & Wride LLC raised its position in Plains GP by 1.3% during the second quarter. Kesler Norman & Wride LLC now owns 48,882 shares of the pipeline company’s stock valued at $950,000 after purchasing an additional 618 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in Plains GP by 0.8% during the third quarter. Arkadios Wealth Advisors now owns 75,889 shares of the pipeline company’s stock worth $1,384,000 after purchasing an additional 631 shares during the last quarter. CWM LLC lifted its stake in Plains GP by 8.5% during the fourth quarter. CWM LLC now owns 8,113 shares of the pipeline company’s stock worth $155,000 after purchasing an additional 636 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Plains GP by 56.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 645 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Trading Down 2.3%

Shares of PAGP opened at $20.71 on Thursday. 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 company has a market cap of $4.10 billion, a price-to-earnings ratio of 39.08 and a beta of 0.57. The stock has a fifty day moving average price of $19.59 and a two-hundred day moving average price of $18.78. Plains GP has a 52-week low of $16.60 and a 52-week high of $21.97.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Friday, January 30th. Plains GP’s payout ratio is 129.46%.

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.