Plains GP Holdings, L.P. (NYSE:PAGP) Receives $19.88 Consensus Price Target from Brokerages

Plains GP Holdings, L.P. (NYSE:PAGP) has earned an average rating of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.88.

Several brokerages recently commented on PAGP. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

Institutional Trading of Plains GP

Institutional investors have recently made changes to their positions in the business. ORG Partners LLC bought a new position in Plains GP during the 2nd quarter valued at about $44,000. CWM LLC lifted its holdings in Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the last quarter. Hara Capital LLC bought a new position in Plains GP during the 3rd quarter valued at about $57,000. Unique Wealth Strategies LLC bought a new position in Plains GP during the 2nd quarter valued at about $70,000. Finally, Eastern Bank bought a new position in Plains GP during the 3rd quarter valued at about $76,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Stock Performance

Shares of PAGP opened at $18.23 on Tuesday. The company has a market capitalization of $3.60 billion, a PE ratio of 21.45 and a beta of 1.54. Plains GP has a one year low of $14.93 and a one year high of $20.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.90. The company’s fifty day moving average price is $18.43 and its 200 day moving average price is $18.55.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. Plains GP’s dividend payout ratio (DPR) is currently 149.41%.

Plains GP Company Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.