Plains GP Holdings, L.P. (NYSE:PAGP) Receives Consensus Rating of “Hold” from Brokerages

Plains GP Holdings, L.P. (NYSE:PAGP) has received a consensus rating of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.60.

A number of equities analysts recently issued reports on PAGP shares. Barclays upped their price objective on shares of 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 lowered their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Raymond James boosted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th.

Plains GP Price Performance

Plains GP stock opened at $21.10 on Monday. The stock has a fifty day moving average of $21.04 and a 200-day moving average of $19.49. The stock has a market capitalization of $4.17 billion, a P/E ratio of 39.81 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. Plains GP has a 52 week low of $17.17 and a 52 week high of $22.31.

Plains GP Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.20%. Plains GP’s dividend payout ratio (DPR) is 286.79%.

Institutional Investors Weigh In On Plains GP

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after buying an additional 520 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Plains GP in the 4th quarter valued at $33,000. Allworth Financial LP bought a new stake in shares of Plains GP in the 4th quarter valued at $44,000. Farther Finance Advisors LLC lifted its position in shares of Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock valued at $44,000 after acquiring an additional 2,355 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its stake in Plains GP by 1,000.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock worth $81,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

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.