Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.60 Consensus PT from Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have received an average recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.60.

PAGP has been the subject of a number of research reports. Barclays increased their price objective on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, January 10th. Raymond James lifted their price objective on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PAGP. Jones Financial Companies Lllp lifted its position in shares of Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after buying an additional 520 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Plains GP in the 4th quarter worth approximately $33,000. Allworth Financial LP purchased a new position in Plains GP in the 4th quarter worth approximately $44,000. Farther Finance Advisors LLC lifted its holdings in Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 2,355 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in Plains GP by 1,000.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock worth $81,000 after purchasing an additional 4,000 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Performance

Shares of PAGP stock opened at $21.52 on Monday. The stock has a fifty day moving average of $21.17 and a 200 day moving average of $19.53. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 40.60 and a beta of 1.55. Plains GP has a 52 week low of $17.17 and a 52 week high of $22.31.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.38 per share. This is a boost from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date was Friday, January 31st. Plains GP’s payout ratio is presently 286.79%.

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.