Brokerages Set Plains GP Holdings, L.P. (NYSE:PAGP) Price Target at $20.13

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.1250.

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Barclays reduced their price objective on Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. Raymond James Financial reduced their price objective on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 24th. Morgan Stanley reduced their price objective on Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Finally, Wolfe Research restated a “peer perform” rating on shares of Plains GP in a research report on Friday, July 25th.

Plains GP Trading Up 0.3%

Shares of PAGP opened at $17.74 on Tuesday. Plains GP has a 52-week low of $16.60 and a 52-week high of $22.31. The business’s fifty day moving average is $18.17 and its 200-day moving average is $18.65. 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 has a market cap of $3.51 billion, a price-to-earnings ratio of 33.47 and a beta of 0.68.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 8.6%. Plains GP’s payout ratio is presently 220.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Plains GP during the 3rd quarter worth about $189,000. Avidian Wealth Enterprises LLC lifted its holdings in Plains GP by 18.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 24,883 shares of the pipeline company’s stock worth $454,000 after buying an additional 3,870 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Plains GP by 11.1% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 97,220 shares of the pipeline company’s stock worth $1,773,000 after buying an additional 9,730 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in Plains GP by 2.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 176,634 shares of the pipeline company’s stock worth $3,121,000 after buying an additional 3,513 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC lifted its holdings in Plains GP by 62.9% during the 3rd quarter. Forvis Mazars Wealth Advisors LLC now owns 47,326 shares of the pipeline company’s stock worth $863,000 after buying an additional 18,267 shares during the period. 88.30% of the stock is 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.