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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been given an average recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.3750.

PAGP has been the subject of several analyst reports. Raymond James Financial reduced their price objective on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research note on Friday, October 24th. Zacks Research raised Plains GP from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. JPMorgan Chase & Co. decreased their price target on Plains GP from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Barclays lowered their price objective on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Morgan Stanley upped their price objective on shares of Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday.

Hedge Funds Weigh In On Plains GP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank purchased a new position in shares of Plains GP during the 2nd quarter worth approximately $31,000. Whittier Trust Co. of Nevada Inc. raised its position in Plains GP by 56.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 645 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Plains GP by 378.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company’s stock worth $39,000 after acquiring an additional 1,580 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Plains GP in the third quarter valued at $46,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Plains GP during the 2nd quarter worth $51,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of PAGP traded down $0.06 during mid-day trading on Friday, hitting $18.43. 1,045,020 shares of the company’s stock were exchanged, compared to its average volume of 1,575,331. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP has a fifty-two week low of $16.60 and a fifty-two week high of $22.31. The business’s 50 day moving average is $17.76 and its two-hundred day moving average is $18.55. The firm has a market capitalization of $3.65 billion, a P/E ratio of 34.76 and a beta of 0.70.

Plains GP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.38 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.2%. Plains GP’s dividend payout ratio (DPR) is presently 163.44%.

Plains GP Company Profile

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.