Plains GP Holdings LP (NYSE:PAGP) had its price objective boosted by analysts at Stifel Nicolaus from $29.00 to $31.00 in a report issued on Thursday. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential downside of 8.53% from the company’s previous close.

A number of other research analysts also recently issued reports on PAGP. Zacks Investment Research raised shares of Plains GP Holdings from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Tuesday, August 16th. Citigroup Inc. reaffirmed a “buy” rating and issued a $12.50 target price (up from $12.00) on shares of Plains GP Holdings in a research report on Tuesday, August 16th. Howard Weil initiated coverage on shares of Plains GP Holdings in a research report on Thursday, August 25th. They issued a “sector perform” rating on the stock. Wunderlich upped their target price on shares of Plains GP Holdings from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Wednesday, August 31st. Finally, Morgan Stanley upped their target price on shares of Plains GP Holdings from $12.50 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 4th. Eighteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.12.

Analyst Recommendations for Plains GP Holdings (NYSE:PAGP)

Shares of Plains GP Holdings (NYSE:PAGP) opened at 33.89 on Thursday. Plains GP Holdings has a 12 month low of $6.29 and a 12 month high of $34.60. The firm has a 50-day moving average of $17.63 and a 200 day moving average of $15.15. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 67.78 and a beta of 1.51.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were paid a $0.2065 dividend. This represents a $0.83 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, October 27th. Plains GP Holdings’s dividend payout ratio (DPR) is presently 169.39%.

Institutional investors have recently modified their holdings of the company. Seven Eight Capital LLC boosted its position in shares of Plains GP Holdings by 0.5% in the second quarter. Seven Eight Capital LLC now owns 42,949 shares of the company’s stock valued at $448,000 after buying an additional 200 shares during the period. LVW Advisors LLC boosted its position in shares of Plains GP Holdings by 0.5% in the second quarter. LVW Advisors LLC now owns 59,883 shares of the company’s stock valued at $625,000 after buying an additional 308 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Plains GP Holdings by 2.3% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,143 shares of the company’s stock valued at $221,000 after buying an additional 388 shares during the period. Chicago Partners Investment Group LLC raised its stake in Plains GP Holdings by 2.1% in the second quarter. Chicago Partners Investment Group LLC now owns 21,244 shares of the company’s stock valued at $222,000 after buying an additional 427 shares in the last quarter. Finally, Milestone Group Inc. raised its stake in Plains GP Holdings by 4.3% in the third quarter. Milestone Group Inc. now owns 15,027 shares of the company’s stock valued at $194,000 after buying an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 77.21% of the company’s stock.

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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