Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.11 Average Price Target from Analysts

Plains GP Holdings, L.P. (NYSE:PAGP) has been given a consensus rating of “Hold” by the ten research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $20.11.

Several research firms have recently commented on PAGP. Wolfe Research raised Plains GP to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, August 5th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PAGP. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Plains GP by 6.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock worth $219,572,000 after acquiring an additional 703,158 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in Plains GP by 3.6% during the second quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company’s stock worth $124,496,000 after purchasing an additional 232,644 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in Plains GP by 2.1% in the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock valued at $101,507,000 after purchasing an additional 113,098 shares during the period. Hennessy Advisors Inc. increased its position in shares of Plains GP by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock valued at $34,294,000 after buying an additional 279,100 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Plains GP by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,804,713 shares of the pipeline company’s stock worth $33,965,000 after buying an additional 171,217 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Price Performance

Shares of PAGP stock opened at $18.41 on Friday. The company has a market capitalization of $3.63 billion, a P/E ratio of 20.92 and a beta of 1.53. The company’s 50-day simple moving average is $18.74 and its two-hundred day simple moving average is $18.67. Plains GP has a one year low of $14.93 and a one year high of $20.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.11). The firm had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same period in the previous year, the company posted $0.25 EPS. As a group, equities analysts anticipate that Plains GP will post 1.24 EPS for the current year.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Thursday, October 31st. Plains GP’s dividend payout ratio is currently 144.32%.

Plains GP Company Profile

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.