Plains GP Holdings, L.P. (NYSE:PAGP) Receives $19.88 Average PT from Brokerages

Plains GP Holdings, L.P. (NYSE:PAGP) has been assigned an average rating of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $19.88.

PAGP has been the topic of a number of research reports. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a research report on Wednesday, September 18th.

Plains GP Price Performance

NYSE:PAGP opened at $18.21 on Tuesday. Plains GP has a 52-week low of $14.93 and a 52-week high of $20.10. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.60 billion, a P/E ratio of 21.42 and a beta of 1.54. The business’s 50-day moving average price is $18.45 and its 200 day moving average price is $18.56.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. Plains GP’s dividend payout ratio (DPR) is presently 149.41%.

Hedge Funds Weigh In On Plains GP

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Plains GP by 3,286.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,350 shares of the pipeline company’s stock valued at $408,000 after acquiring an additional 21,690 shares in the last quarter. SG Americas Securities LLC grew its stake in Plains GP by 128.6% in the first quarter. SG Americas Securities LLC now owns 50,001 shares of the pipeline company’s stock valued at $913,000 after purchasing an additional 28,124 shares in the last quarter. Headlands Technologies LLC acquired a new position in Plains GP in the 1st quarter worth about $284,000. Russell Investments Group Ltd. raised its stake in shares of Plains GP by 3.8% during the 1st quarter. Russell Investments Group Ltd. now owns 70,710 shares of the pipeline company’s stock worth $1,290,000 after purchasing an additional 2,582 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Plains GP by 6.7% during the 1st quarter. US Bancorp DE now owns 82,706 shares of the pipeline company’s stock valued at $1,509,000 after buying an additional 5,167 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

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.