Brokerages Set Plains GP Holdings, L.P. (NYSE:PAGP) Target Price at $20.60

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.60.

A number of analysts have commented on PAGP shares. Barclays boosted their target price on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Raymond James boosted their target price on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th.

Plains GP Stock Down 1.0 %

Plains GP stock opened at $21.34 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP has a 1-year low of $17.17 and a 1-year high of $22.31. The company has a market cap of $4.22 billion, a PE ratio of 40.26 and a beta of 1.55. The stock’s 50 day moving average price is $21.23 and its 200 day moving average price is $19.57.

Plains GP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.38 dividend. This is an increase from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.12%. The ex-dividend date was Friday, January 31st. Plains GP’s dividend payout ratio is currently 286.79%.

Hedge Funds Weigh In On Plains GP

Several institutional investors have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. increased its stake in Plains GP by 8.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock valued at $229,989,000 after purchasing an additional 927,855 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in Plains GP by 24.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after purchasing an additional 1,629,008 shares during the last quarter. Clearbridge Investments LLC increased its stake in Plains GP by 11.7% in the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock valued at $113,077,000 after purchasing an additional 646,130 shares during the last quarter. Two Sigma Advisers LP increased its stake in Plains GP by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company’s stock valued at $73,610,000 after purchasing an additional 19,900 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Plains GP by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company’s stock valued at $58,213,000 after purchasing an additional 288,430 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

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.