Plains GP Holdings, L.P. to Issue Quarterly Dividend of $0.32 (NYSE:PAGP)

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Shareholders of record on Wednesday, May 1st will be paid a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend is Tuesday, April 30th.

Plains GP has raised its dividend payment by an average of 5.9% per year over the last three years.

Plains GP Stock Performance

Shares of NYSE:PAGP traded up $0.35 on Monday, reaching $19.65. 3,134,375 shares of the company's stock were exchanged, compared to its average volume of 2,260,771. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 19.26 and a beta of 1.55. Plains GP has a fifty-two week low of $12.59 and a fifty-two week high of $19.77. The business's 50-day moving average is $17.32 and its two-hundred day moving average is $16.44. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP - Get Free Report) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. As a group, equities research analysts forecast that Plains GP will post 1.56 EPS for the current year.

Hedge Funds Weigh In On Plains GP

Several large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in Plains GP during the 4th quarter valued at about $1,627,000. Barclays PLC grew its stake in shares of Plains GP by 1.6% in the 4th quarter. Barclays PLC now owns 753,675 shares of the pipeline company's stock worth $12,021,000 after purchasing an additional 12,025 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Plains GP in the 4th quarter worth approximately $3,312,000. Royal Bank of Canada grew its stake in shares of Plains GP by 34.5% in the 4th quarter. Royal Bank of Canada now owns 374,442 shares of the pipeline company's stock worth $5,972,000 after purchasing an additional 96,092 shares during the last quarter. Finally, Pathstone Holdings LLC acquired a new position in shares of Plains GP in the 4th quarter worth approximately $4,674,000. Institutional investors and hedge funds own 88.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Plains GP from a "hold" rating to a "buy" rating in a report on Monday, March 4th. Scotiabank assumed coverage on shares of Plains GP in a report on Monday. They issued a "sector outperform" rating and a $23.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Plains GP from $16.50 to $17.50 and gave the stock a "neutral" rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.13.

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.