Plains GP Holdings, L.P. (NYSE:PAGP) Stock Has Consensus Price Target of $25.33 According to Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have received an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.33.

PAGP has been the subject of several recent research reports. Barclays upped their price target on Plains GP from $23.00 to $24.00 and gave the stock an “underweight” rating in a report on Monday, September 21st. Citigroup increased their price target on Plains GP from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 17th. Morgan Stanley raised their target price on Plains GP from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Mizuho lifted their target price on Plains GP from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. Finally, Truist Financial raised their price target on shares of Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th.

Plains GP Price Performance

Shares of PAGP opened at $27.17 on Tuesday. Plains GP has a 12-month low of $16.82 and a 12-month high of $28.70. The stock has a market cap of $5.38 billion, a P/E ratio of 51.27 and a beta of 0.54. The business’s fifty day moving average is $26.92 and its 200 day moving average is $25.32. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.67 annualized dividend and a yield of 6.1%. Plains GP’s dividend payout ratio (DPR) is 59.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PAGP. Energy Income Partners LLC raised its stake in shares of Plains GP by 1.4% during the 1st quarter. Energy Income Partners LLC now owns 8,974,776 shares of the pipeline company’s stock valued at $217,908,000 after purchasing an additional 120,765 shares during the period. Artemis Investment Management LLP boosted its holdings in Plains GP by 18.1% in the 3rd quarter. Artemis Investment Management LLP now owns 6,231,288 shares of the pipeline company’s stock valued at $161,390,000 after purchasing an additional 955,231 shares during the period. Bank of America Corp DE increased its holdings in shares of Plains GP by 3.0% in the second quarter. Bank of America Corp DE now owns 3,865,600 shares of the pipeline company’s stock worth $93,818,000 after purchasing an additional 112,893 shares during the period. Hsbc Holdings PLC increased its stake in Plains GP by 5.5% in the 2nd quarter. Hsbc Holdings PLC now owns 2,854,795 shares of the pipeline company’s stock worth $69,291,000 after acquiring an additional 147,603 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its position in shares of Plains GP by 25.8% in the first quarter. Miller Howard Investments Inc. NY now owns 1,421,518 shares of the pipeline company’s stock worth $34,514,000 after purchasing an additional 291,397 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Company Profile

Plains GP Holdings, L.P. is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. Its business exposure is primarily derived from Plains All American, which operates energy infrastructure used to transport, store, gather and handle crude oil and natural gas liquids.

Through its ownership interests in Plains All American and its general partner structure, Plains GP Holdings provides investors with an indirect interest in the operations of one of North America’s major midstream energy companies.