Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.14 Consensus PT from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been assigned an average rating of “Hold” from the ten analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.3750.

A number of analysts have recently weighed in on the stock. Bank of America downgraded shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 price target for the company. in a research report on Wednesday, January 28th. Raymond James Financial cut their target price on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 24th. Morgan Stanley lifted their price target on Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Barclays boosted their price objective on Plains GP from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of Plains GP from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday.

Institutional Trading of Plains GP

A number of large investors have recently modified their holdings of PAGP. Geode Capital Management LLC lifted its position in Plains GP by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 159,492 shares of the pipeline company’s stock worth $3,053,000 after purchasing an additional 1,067 shares during the period. Americana Partners LLC raised its stake in shares of Plains GP by 1.7% in the 4th quarter. Americana Partners LLC now owns 228,717 shares of the pipeline company’s stock worth $4,378,000 after buying an additional 3,800 shares in the last quarter. Callahan Advisors LLC lifted its holdings in shares of Plains GP by 25.9% in the fourth quarter. Callahan Advisors LLC now owns 14,600 shares of the pipeline company’s stock valued at $279,000 after buying an additional 3,000 shares during the period. ProShare Advisors LLC boosted its stake in Plains GP by 14.3% during the fourth quarter. ProShare Advisors LLC now owns 18,637 shares of the pipeline company’s stock valued at $357,000 after buying an additional 2,336 shares in the last quarter. Finally, Stephens Inc. AR boosted its stake in Plains GP by 1.1% during the fourth quarter. Stephens Inc. AR now owns 235,409 shares of the pipeline company’s stock valued at $4,506,000 after buying an additional 2,596 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Down 0.1%

Shares of Plains GP stock opened at $20.69 on Thursday. Plains GP has a 1-year low of $16.60 and a 1-year high of $21.97. The company has a market capitalization of $4.09 billion, a PE ratio of 39.04 and a beta of 0.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The business has a 50-day moving average of $19.63 and a 200-day moving average of $18.78.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Friday, January 30th. Plains GP’s dividend payout ratio is presently 129.46%.

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.