Plains GP Holdings, L.P. (PAGP) To Go Ex-Dividend on July 31st

Plains GP Holdings, L.P. (NYSE:PAGP) declared a quarterly dividend on Monday, July 6th. Shareholders of record on Friday, July 31st will be given a dividend of 0.4175 per share by the pipeline company on Friday, August 14th. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, July 31st.

Plains GP has increased its dividend by an average of 0.1%per year over the last three years. Plains GP has a payout ratio of 105.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Plains GP to earn $1.87 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 89.3%.

Plains GP Trading Up 0.7%

Shares of PAGP opened at $26.27 on Wednesday. The stock’s fifty day simple moving average is $24.77 and its 200-day simple moving average is $23.35. The firm has a market capitalization of $5.20 billion, a PE ratio of 49.57 and a beta of 0.45. Plains GP has a 12-month low of $16.68 and a 12-month high of $26.65. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Analyst Upgrades and Downgrades

Several research firms recently commented on PAGP. Wells Fargo & Company boosted their price objective on shares of Plains GP from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Mizuho boosted their price target on Plains GP from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, June 8th. The Goldman Sachs Group raised Plains GP from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Citigroup increased their price objective on Plains GP from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, US Capital Advisors lowered Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Plains GP presently has a consensus rating of “Hold” and an average target price of $23.36.

About Plains GP

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.