Plains GP Holdings, L.P. (NYSE:PAGP) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts rate Plains GP Holdings “Hold” overall: Of 13 analysts, six recommend holding, four recommend buying, one strongly recommends buying, and two recommend selling. The average 12-month price target is $24.55, below the reported $27.73 share price.
• Recent analysts raised their price targets, with targets ranging from $24 to $27; ratings varied from “neutral” to “outperform,” while Goldman Sachs upgraded the stock from “sell” to “neutral.”
• Plains GP offers a 6.0% dividend yield based on its $1.67 annualized dividend, with a payout ratio of 59.86%. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) has been given a consensus rating of "Hold" by the thirteen analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $24.5455.

PAGP has been the subject of several analyst reports. Mizuho boosted their price target on shares of Plains GP from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Citigroup increased their price objective on shares of Plains GP from $23.00 to $27.00 and gave the stock a "neutral" rating in a report on Thursday. The Goldman Sachs Group upgraded shares of Plains GP from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Truist Financial upped their target price on shares of Plains GP from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Plains GP from $24.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, September 3rd.

Institutional Trading of Plains GP

Several large investors have recently added to or reduced their stakes in PAGP. First Bancorp Inc ME bought a new stake in shares of Plains GP in the 2nd quarter worth $30,000. North Star Investment Management Corp. acquired a new stake in shares of Plains GP in the first quarter valued at $56,000. Continuum Advisory LLC bought a new position in Plains GP during the second quarter valued at about $61,000. Ameritas Advisory Services LLC bought a new position in Plains GP during the second quarter valued at about $64,000. Finally, O Domhnaill Enterprises Inc. acquired a new position in Plains GP during the first quarter worth about $66,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Trading Up 0.2%

NYSE:PAGP opened at $27.73 on Friday. The firm has a market capitalization of $5.49 billion, a P/E ratio of 52.32 and a beta of 0.48. The business has a 50 day simple moving average of $26.60 and a 200 day simple moving average of $24.89. 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 12-month low of $16.68 and a 12-month high of $28.70.

Plains GP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.4175 per share. The ex-dividend date was Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 6.0%. Plains GP's payout ratio is currently 59.86%.

Plains GP Company Profile

Plains GP Holdings, L.P. NYSE: PAGP is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. (PAA), an energy infrastructure partnership. Plains GP Holdings generally conducts its activities through its ownership and governance interests in PAA rather than through a separate operating business.

Through PAA, the company is involved in the transportation, storage, gathering, terminaling and logistics of crude oil and natural gas liquids. Its infrastructure includes pipelines, storage facilities, gathering systems, rail and truck facilities, and export and terminal assets that support the movement of energy commodities from production areas to refineries, processing facilities and other markets.

Plains' operations primarily serve the United States and Canada, with significant infrastructure in major North American crude oil and NGL producing and consuming regions.

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