Plains GP Holdings, L.P. (NYSE:PAGP) Receives $17.43 Consensus Price Target from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) have earned a consensus rating of "Hold" from the six research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $17.43.

Several equities analysts have commented on PAGP shares. Citigroup increased their target price on shares of Plains GP from $16.50 to $17.50 and gave the stock a "neutral" rating in a research report on Friday, March 1st. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a research report on Monday, March 4th.

Plains GP Stock Up 0.8 %

Shares of NYSE:PAGP traded up $0.14 during trading on Monday, reaching $18.39. 1,640,352 shares of the company traded hands, compared to its average volume of 2,197,883. Plains GP has a 1-year low of $12.59 and a 1-year high of $18.49. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.63 billion, a P/E ratio of 18.03 and a beta of 1.55. The firm has a fifty day simple moving average of $17.08 and a 200 day simple moving average of $16.34.

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). The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.88 billion. Plains GP had a net margin of 0.41% and a return on equity of 1.33%. Analysts anticipate that Plains GP will post 1.56 earnings per share for the current fiscal year.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.3175 per share. The ex-dividend date was Tuesday, January 30th. This is an increase from Plains GP's previous quarterly dividend of $0.27. This represents a $1.27 dividend on an annualized basis and a yield of 6.91%. Plains GP's dividend payout ratio (DPR) is 124.51%.

Institutional Investors Weigh In On Plains GP

A number of institutional investors have recently added to or reduced their stakes in PAGP. Goldman Sachs Group Inc. lifted its stake in Plains GP by 41.4% during the first quarter. Goldman Sachs Group Inc. now owns 11,333,168 shares of the pipeline company's stock worth $130,898,000 after purchasing an additional 3,318,007 shares during the period. Chickasaw Capital Management LLC lifted its stake in Plains GP by 6.9% during the fourth quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company's stock worth $105,787,000 after purchasing an additional 429,179 shares during the period. Jennison Associates LLC lifted its stake in Plains GP by 43.7% during the third quarter. Jennison Associates LLC now owns 4,958,406 shares of the pipeline company's stock worth $79,930,000 after purchasing an additional 1,506,884 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in Plains GP by 12.4% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,871,231 shares of the pipeline company's stock worth $78,524,000 after purchasing an additional 539,000 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in Plains GP by 58.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,645,531 shares of the pipeline company's stock worth $74,096,000 after purchasing an additional 1,721,120 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

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.