Plains GP Holdings, L.P. (NYSE:PAGP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $19.82.

Several research analysts recently commented on PAGP shares. Stifel Nicolaus lifted their target price on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group increased their target price on shares of Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Barclays boosted their price target on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Scotiabank initiated coverage on Plains GP in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. Finally, UBS Group boosted their target price on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 12th.

Plains GP Trading Down 1.4 %

Shares of PAGP stock opened at $17.40 on Friday. Plains GP has a 12-month low of $13.78 and a 12-month high of $19.77. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $18.32 and a two-hundred day moving average price of $17.25. The firm has a market cap of $3.43 billion, a P/E ratio of 19.77 and a beta of 1.54.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Plains GP had a return on equity of 1.15% and a net margin of 0.35%. The company had revenue of $12 billion for the quarter, compared to the consensus estimate of $13.72 billion. Equities analysts anticipate that Plains GP will post 1.01 EPS for the current fiscal year.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.3175 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.30%. Plains GP’s payout ratio is 144.32%.

Hedge Funds Weigh In On Plains GP

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in Plains GP by 88.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,772,217 shares of the pipeline company’s stock worth $60,167,000 after acquiring an additional 1,774,438 shares in the last quarter. Chickasaw Capital Management LLC grew its position in Plains GP by 6.9% during the 4th quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock valued at $105,787,000 after purchasing an additional 429,179 shares during the last quarter. Symmetry Investments LP purchased a new stake in Plains GP during the 4th quarter valued at about $1,002,000. Cambria Investment Management L.P. increased its stake in Plains GP by 7.1% during the 3rd quarter. Cambria Investment Management L.P. now owns 707,543 shares of the pipeline company’s stock valued at $11,406,000 after purchasing an additional 46,844 shares in the last quarter. Finally, Walnut Private Equity Partners LLC raised its holdings in Plains GP by 13.5% in the fourth quarter. Walnut Private Equity Partners LLC now owns 42,000 shares of the pipeline company’s stock worth $670,000 after buying an additional 5,000 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

About Plains GP

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.