Plains GP Holdings, L.P. (NYSE:PAGP) Receives $13.56 Consensus Target Price from Brokerages

Plains GP Holdings, L.P. (NYSE:PAGPGet Rating) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.56.

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Plains GP from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 26th. Credit Suisse Group raised shares of Plains GP from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $13.00 to $14.00 in a research report on Thursday, May 12th. Raymond James upped their price objective on shares of Plains GP from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Finally, StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, April 18th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Energy Income Partners LLC raised its position in shares of Plains GP by 0.3% during the 4th quarter. Energy Income Partners LLC now owns 12,307,943 shares of the pipeline company’s stock valued at $124,803,000 after buying an additional 33,247 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Plains GP by 41.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,333,168 shares of the pipeline company’s stock valued at $130,898,000 after purchasing an additional 3,318,007 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Plains GP by 1.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,707,267 shares of the pipeline company’s stock valued at $37,592,000 after purchasing an additional 39,380 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Plains GP by 96.0% during the 1st quarter. Jennison Associates LLC now owns 3,128,909 shares of the pipeline company’s stock valued at $36,139,000 after purchasing an additional 1,532,548 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Plains GP by 31.8% during the 1st quarter. Allianz Asset Management GmbH now owns 3,094,335 shares of the pipeline company’s stock valued at $35,740,000 after purchasing an additional 747,435 shares during the last quarter. Institutional investors and hedge funds own 90.45% of the company’s stock.

PAGP opened at $9.99 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.94 and a quick ratio of 0.88. Plains GP has a fifty-two week low of $9.24 and a fifty-two week high of $12.84. The firm has a market capitalization of $1.94 billion, a PE ratio of 142.71 and a beta of 1.75. The company’s 50-day moving average is $11.51 and its 200 day moving average is $11.31.

Plains GP (NYSE:PAGPGet Rating) last posted its earnings results on Wednesday, May 4th. The pipeline company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.31). Plains GP had a return on equity of 0.10% and a net margin of 0.03%. The business had revenue of $13.69 billion during the quarter, compared to analyst estimates of $12.13 billion. As a group, analysts expect that Plains GP will post 0.96 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were paid a $0.2175 dividend. The ex-dividend date of this dividend was Thursday, April 28th. This is a boost from Plains GP’s previous quarterly dividend of $0.18. This represents a $0.87 annualized dividend and a yield of 8.71%. Plains GP’s dividend payout ratio is currently 1,242.86%.

Plains GP Company Profile (Get Rating)

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

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Analyst Recommendations for Plains GP (NYSE:PAGP)

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