Plains GP Holdings, L.P. (NYSE:PAGP) Receives Consensus Rating of “Hold” from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $23.5455.

Several research firms have weighed in on PAGP. Citigroup raised their price objective on shares of Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Barclays upped their target price on shares of Plains GP from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Truist Financial increased their price target on shares of Plains GP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Mizuho raised their price target on shares of Plains GP from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Finally, Morgan Stanley boosted their price objective on shares of Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th.

Plains GP Stock Performance

Plains GP stock opened at $27.97 on Monday. The stock has a 50-day simple moving average of $25.52 and a 200 day simple moving average of $24.26. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP has a 12-month low of $16.68 and a 12-month high of $28.28. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 52.77 and a beta of 0.46.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, July 31st. Plains GP’s dividend payout ratio (DPR) is 59.86%.

Hedge Funds Weigh In On Plains GP

Large investors have recently made changes to their positions in the company. First Bancorp Inc ME bought a new position in Plains GP in the second quarter valued at about $30,000. North Star Investment Management Corp. bought a new stake in Plains GP during the 1st quarter worth about $56,000. Continuum Advisory LLC bought a new stake in Plains GP during the 2nd quarter worth about $61,000. Larson Financial Group LLC acquired a new position in Plains GP during the 3rd quarter valued at about $46,000. Finally, Ameritas Advisory Services LLC acquired a new position in Plains GP during the 2nd quarter valued at about $64,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.