Plains GP Holdings, L.P. (NYSE:PAGP) Plans $0.38 Quarterly Dividend

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Wednesday, April 2nd, Wall Street Journal reports. Stockholders of record on Thursday, May 1st will be paid a dividend of 0.38 per share by the pipeline company on Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 8.15%. The ex-dividend date is Thursday, May 1st.

Plains GP Price Performance

Plains GP stock traded down $1.99 during midday trading on Friday, reaching $18.66. 5,364,299 shares of the company were exchanged, compared to its average volume of 1,590,725. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 35.21 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm’s 50-day simple moving average is $21.26 and its 200-day simple moving average is $19.74. Plains GP has a 1 year low of $17.17 and a 1 year high of $22.31.

Analysts Set New Price Targets

PAGP has been the subject of a number of analyst reports. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. StockNews.com cut Plains GP from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley upped their target price on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. Finally, Raymond James lifted their price target on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.00.

About Plains GP

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.