Plains GP Holdings, L.P. (NYSE:PAGP) Stock Has Consensus Price Target of $26.00

Plains GP Holdings, L.P. (NYSE:PAGP) has been given a consensus rating of “Hold” by the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.00.

Several research firms recently issued reports on PAGP. Raymond James Financial reissued a “strong-buy” rating and issued a $30.00 target price on shares of Plains GP in a research note on Monday, October 19th. UBS Group upped their price target on Plains GP from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, October 9th. Citigroup lifted their price target on shares of Plains GP from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 17th. Barclays boosted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company an “underweight” rating in a research report on Monday, September 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Plains GP from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd.

Plains GP Stock Performance

NYSE:PAGP opened at $25.41 on Friday. The firm has a market cap of $5.03 billion, a PE ratio of 47.94 and a beta of 0.54. Plains GP has a fifty-two week low of $17.35 and a fifty-two week high of $28.96. 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 business has a 50 day moving average price of $27.31 and a 200-day moving average price of $24.82.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.4175 per share. The ex-dividend date is Friday, October 30th. This represents a $1.67 annualized dividend and a dividend yield of 6.6%. Plains GP’s payout ratio is currently 75.23%.

Hedge Funds Weigh In On Plains GP

Institutional investors have recently bought and sold shares of the stock. Energy Income Partners LLC boosted its position in 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 acquiring an additional 120,765 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of 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 worth $161,390,000 after acquiring an additional 955,231 shares in the last quarter. Bank of America Corp DE raised its position in shares of Plains GP by 3.0% in the 2nd quarter. Bank of America Corp DE now owns 3,865,600 shares of the pipeline company’s stock worth $93,818,000 after acquiring an additional 112,893 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Plains GP by 5.5% in the 2nd quarter. Hsbc Holdings PLC now owns 2,854,795 shares of the pipeline company’s stock valued at $69,291,000 after purchasing an additional 147,603 shares during the period. Finally, Bahl & Gaynor LLC lifted its position in Plains GP by 49.9% during the third quarter. Bahl & Gaynor LLC now owns 1,819,283 shares of the pipeline company’s stock valued at $47,119,000 after buying an additional 605,701 shares during the period. 88.30% of the stock is owned by institutional investors.

About Plains GP

Plains GP Holdings is a publicly traded holding company whose primary business is its ownership interest in Plains All American Pipeline. Through that relationship, it is tied to a midstream energy business focused on transporting, storing, gathering and marketing crude oil and natural gas liquids.

Plains All American Pipeline operates pipelines, storage facilities and other logistics infrastructure that connect energy producers with refineries and other customers. Its operations span the United States and Canada, serving key crude oil and natural gas liquids markets.

Plains GP Holdings was established to hold interests in Plains All American Pipeline and does not operate a separate, broad-based business of its own.