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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been assigned an average rating of “Hold” from the nine research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $20.1250.

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

Plains GP Stock Up 0.1%

Shares of PAGP opened at $18.01 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $17.78 and a 200 day moving average of $18.53. The company has a market cap of $3.56 billion, a PE ratio of 33.98 and a beta of 0.70. Plains GP has a 52-week low of $16.60 and a 52-week high of $22.31.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $0.38 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.4%. Plains GP’s dividend payout ratio is presently 163.44%.

Institutional Trading of Plains GP

Hedge funds have recently bought and sold shares of the stock. Huntington National Bank purchased a new position in shares of Plains GP in the second quarter valued at approximately $31,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Plains GP by 56.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 645 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Plains GP by 378.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 1,580 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Plains GP in the 3rd quarter valued at $46,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Plains GP during the second quarter worth about $51,000. Hedge funds and other 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.