Plains GP Holdings LP (PAGP) Given Average Rating of “Hold” by Analysts
Shares of Plains GP Holdings LP (NYSE:PAGP) have received a consensus rating of “Hold” from the twenty-two research firms that are currently covering the firm. Eighteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $11.89.
Several analysts recently issued reports on PAGP shares. Wells Fargo & Co. raised shares of Plains GP Holdings from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 5th. Howard Weil began coverage on shares of Plains GP Holdings in a report on Thursday, August 25th. They issued a “sector perform” rating for the company. Zacks Investment Research downgraded shares of Plains GP Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Deutsche Bank AG raised shares of Plains GP Holdings from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $15.00 in a report on Monday. Finally, Citigroup Inc. reissued a “buy” rating and issued a $12.50 price target (up from $12.00) on shares of Plains GP Holdings in a report on Tuesday, August 16th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harvest Fund Advisors LLC raised its position in Plains GP Holdings by 34.0% in the first quarter. Harvest Fund Advisors LLC now owns 5,704,595 shares of the company’s stock valued at $49,573,000 after buying an additional 1,446,048 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Plains GP Holdings during the first quarter valued at $14,117,000. Alps Advisors Inc. raised its position in Plains GP Holdings by 1,096.3% in the second quarter. Alps Advisors Inc. now owns 372,112 shares of the company’s stock valued at $3,881,000 after buying an additional 341,008 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Plains GP Holdings by 1.6% in the first quarter. UBS Asset Management Americas Inc. now owns 330,186 shares of the company’s stock valued at $2,869,000 after buying an additional 5,127 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in Plains GP Holdings during the first quarter valued at $107,000. 76.78% of the stock is currently owned by institutional investors and hedge funds.
Plains GP Holdings (NYSE:PAGP) traded down 0.557% on Thursday, reaching $13.395. 2,586,676 shares of the company’s stock were exchanged. Plains GP Holdings has a 12 month low of $4.72 and a 12 month high of $19.11. The firm has a 50-day moving average of $12.15 and a 200-day moving average of $10.59. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 24.092 and a beta of 1.55.
Plains GP Holdings (NYSE:PAGP) last posted 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 firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.76 billion. Plains GP Holdings had a return on equity of 1.36% and a net margin of 0.69%. Plains GP Holdings’s quarterly revenue was down 25.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. On average, equities analysts expect that Plains GP Holdings will post $0.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 31st will be paid a dividend of $0.2065 per share. This represents a $0.83 annualized dividend and a yield of 6.13%. The ex-dividend date is Thursday, October 27th. Plains GP Holdings’s payout ratio is 170.37%.
About Plains GP Holdings
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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