Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.60 Consensus Price Target from Analysts

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

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

Plains GP Trading Down 0.7 %

NYSE:PAGP opened at $21.68 on Thursday. Plains GP has a 1-year low of $16.90 and a 1-year high of $22.31. The business’s 50-day moving average price is $20.26 and its two-hundred day moving average price is $19.24. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 40.91 and a beta of 1.58.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This is an increase 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 7.01%. Plains GP’s dividend payout ratio (DPR) is presently 286.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. McIlrath & Eck LLC bought a new position in shares of Plains GP during the fourth quarter worth about $166,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Plains GP by 0.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,072 shares of the pipeline company’s stock worth $7,794,000 after buying an additional 1,997 shares in the last quarter. Vident Advisory LLC bought a new position in shares of Plains GP during the fourth quarter worth about $1,751,000. Two Sigma Advisers LP grew its holdings in shares of Plains GP by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company’s stock worth $73,610,000 after buying an additional 19,900 shares in the last quarter. Finally, Snowden Capital Advisors LLC bought a new position in shares of Plains GP during the fourth quarter worth about $300,000. 88.30% of the stock is currently owned by 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.