Plains GP (NYSE:PAGP) Reaches New 1-Year High at $18.65

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $18.65 and last traded at $18.64, with a volume of 113678 shares changing hands. The stock had previously closed at $18.46.

Wall Street Analysts Forecast Growth

PAGP has been the topic of a number of recent analyst reports. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Monday, March 4th. Citigroup increased their price objective on shares of Plains GP from $16.50 to $17.50 and gave the company a "neutral" rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $17.43.

Plains GP Price Performance

The company's 50 day moving average is $17.13 and its 200 day moving average is $16.35. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 18.50 and a beta of 1.55.

Plains GP (NYSE:PAGP - Get Free Report) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Research analysts anticipate that Plains GP Holdings, L.P. will post 1.56 EPS for the current fiscal year.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.3175 per share. This is an increase from Plains GP's previous quarterly dividend of $0.27. This represents a $1.27 annualized dividend and a yield of 6.73%. The ex-dividend date was Tuesday, January 30th. Plains GP's dividend payout ratio (DPR) is presently 124.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PAGP. Geneos Wealth Management Inc. grew its position in Plains GP by 60.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company's stock worth $39,000 after purchasing an additional 1,300 shares during the last quarter. Spire Wealth Management grew its position in Plains GP by 63.2% during the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company's stock worth $41,000 after purchasing an additional 983 shares during the last quarter. Rational Advisors LLC purchased a new position in Plains GP during the 3rd quarter worth $43,000. Allworth Financial LP purchased a new position in Plains GP during the 3rd quarter worth $48,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Plains GP by 95.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company's stock valued at $56,000 after acquiring an additional 1,697 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.