Plains GP Holdings LP (PAGP) Plans Quarterly Dividend of $0.21
Plains GP Holdings LP (NYSE:PAGP) declared a quarterly dividend on Monday, October 3rd. Investors of record on Monday, October 31st will be paid a dividend of 0.2065 per share on Monday, November 14th. This represents a $0.83 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend is Thursday, October 27th.
Shares of Plains GP Holdings (NYSE:PAGP) traded down 1.00% during trading on Monday, reaching $12.81. 1,515,746 shares of the company traded hands. Plains GP Holdings has a 12 month low of $4.72 and a 12 month high of $19.49. The firm has a 50-day moving average price of $11.76 and a 200-day moving average price of $10.32. The firm has a market capitalization of $3.42 billion, a PE ratio of 23.04 and a beta of 1.54.
Plains GP Holdings (NYSE:PAGP) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The business earned $4.95 billion during the quarter, compared to analyst estimates of $4.76 billion. Plains GP Holdings had a return on equity of 1.36% and a net margin of 0.69%. The business’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. Equities research analysts anticipate that Plains GP Holdings will post $0.83 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. GAM Holding AG raised its position in shares of Plains GP Holdings by 84.4% in the second quarter. GAM Holding AG now owns 22,317 shares of the company’s stock valued at $233,000 after buying an additional 10,213 shares during the last quarter. KCG Holdings Inc. raised its position in Plains GP Holdings by 8.4% in the second quarter. KCG Holdings Inc. now owns 40,284 shares of the company’s stock worth $420,000 after buying an additional 3,117 shares in the last quarter. Seven Eight Capital LLC raised its position in Plains GP Holdings by 0.5% in the second quarter. Seven Eight Capital LLC now owns 42,949 shares of the company’s stock worth $448,000 after buying an additional 200 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Plains GP Holdings by 310.6% in the second quarter. Parametric Portfolio Associates LLC now owns 44,772 shares of the company’s stock worth $467,000 after buying an additional 33,868 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Plains GP Holdings by 2.7% in the second quarter. Alliancebernstein L.P. now owns 52,591 shares of the company’s stock worth $549,000 after buying an additional 1,381 shares in the last quarter. 76.78% of the stock is currently owned by hedge funds and other institutional investors.
PAGP has been the topic of several recent research reports. Howard Weil initiated coverage on shares of Plains GP Holdings in a research note on Thursday, August 25th. They issued a “sector perform” rating on the stock. Zacks Investment Research cut shares of Plains GP Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Citigroup Inc. reaffirmed a “buy” rating and issued a $12.50 price objective (up previously from $12.00) on shares of Plains GP Holdings in a research note on Tuesday, August 16th. SunTrust Banks Inc. initiated coverage on shares of Plains GP Holdings in a research note on Tuesday, June 14th. They issued a “neutral” rating and a $12.00 price objective on the stock. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $12.00 price objective (up previously from $11.00) on shares of Plains GP Holdings in a research note on Friday, July 15th. Nineteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.37.
Plains GP Holdings Company Profile
Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products.
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