Plains GP Holdings, L.P. (NYSE:PAGP) Receives $22.30 Average Target Price from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.50.

A number of equities research analysts recently weighed in on PAGP shares. Stifel Nicolaus upped their target price on shares of Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Truist Financial started coverage on shares of Plains GP in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price on the stock. Citigroup upped their target price on shares of Plains GP from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Zacks Research upgraded shares of Plains GP from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Morgan Stanley upped their target price on shares of Plains GP from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday.

Plains GP Trading Down 0.8%

PAGP opened at $25.12 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP has a fifty-two week low of $16.68 and a fifty-two week high of $25.79. The firm has a market capitalization of $4.97 billion, a PE ratio of 47.40 and a beta of 0.46. The company’s 50-day moving average is $23.71 and its 200 day moving average is $21.17.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.4175 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.67 annualized dividend and a yield of 6.6%. Plains GP’s dividend payout ratio (DPR) is 172.16%.

Institutional Investors Weigh In On Plains GP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cibc World Market Inc. increased its stake in Plains GP by 3.8% in the 3rd quarter. Cibc World Market Inc. now owns 16,229 shares of the pipeline company’s stock valued at $296,000 after buying an additional 597 shares during the last quarter. Arkadios Wealth Advisors increased its stake in Plains GP by 0.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 75,889 shares of the pipeline company’s stock valued at $1,384,000 after buying an additional 631 shares during the last quarter. CWM LLC increased its stake in Plains GP by 8.5% in the 4th quarter. CWM LLC now owns 8,113 shares of the pipeline company’s stock valued at $155,000 after buying an additional 636 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Plains GP by 56.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock valued at $32,000 after buying an additional 645 shares during the last quarter. Finally, McIlrath & Eck LLC increased its stake in Plains GP by 5.9% in the 1st quarter. McIlrath & Eck LLC now owns 12,133 shares of the pipeline company’s stock valued at $295,000 after buying an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

About Plains GP

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.