Plains GP (NYSE:PAGP) Stock Price Expected to Rise, Mizuho Analyst Says

Plains GP (NYSE:PAGP - Free Report) had its price objective boosted by Mizuho from $20.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the pipeline company's stock.

Several other equities analysts also recently commented on the company. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barclays reduced their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. boosted their price objective on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday. Morgan Stanley boosted their price objective on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 25th. Finally, Citigroup reduced their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.88.

Plains GP Price Performance

Shares of Plains GP stock traded down $0.09 during midday trading on Wednesday, hitting $19.66. 1,644,394 shares of the company were exchanged, compared to its average volume of 1,584,331. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market cap of $3.89 billion, a P/E ratio of 37.10 and a beta of 0.63. Plains GP has a 52 week low of $16.61 and a 52 week high of $22.31. The firm has a 50 day simple moving average of $18.47 and a 200-day simple moving average of $19.65.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.73%. Plains GP's payout ratio is currently 205.41%.

Institutional Investors Weigh In On Plains GP

Institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after acquiring an additional 520 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after purchasing an additional 2,355 shares during the period. Allworth Financial LP acquired a new position in shares of Plains GP in the 4th quarter valued at $44,000. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Plains GP by 1,000.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock valued at $81,000 after purchasing an additional 4,000 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Plains GP during the fourth quarter worth $90,000. 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.