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

Key Points

• The consensus recommendation for Plains GP Holdings, L.P. (NYSE:PAGP) is a "Hold" according to eight research firms, with varying ratings including one sell and one strong buy.
• The average 12-month target price for PAGP shares is $20.8750, with recent adjustments in ratings from firms like Citigroup and Mizuho reflecting divergent outlooks.
• Plains GP recently announced a quarterly dividend of $0.38, which is scheduled for payment on August 14th, resulting in an 8.0% yield for investors.

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) have been given a consensus recommendation of "Hold" by the eight research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.8750.

PAGP has been the topic of a number of research reports. Wolfe Research restated a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Citigroup lowered their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Mizuho lifted their price target on Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their price target on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th.

Hedge Funds Weigh In On Plains GP

A number of hedge funds have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. raised its position in Plains GP by 8.0% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company's stock worth $229,989,000 after buying an additional 927,855 shares during the last quarter. Energy Income Partners LLC raised its position in Plains GP by 2.0% in the 1st quarter. Energy Income Partners LLC now owns 10,177,085 shares of the pipeline company's stock worth $217,383,000 after buying an additional 203,638 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Plains GP by 2.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,117,959 shares of the pipeline company's stock valued at $196,592,000 after purchasing an additional 247,365 shares during the last quarter. Chickasaw Capital Management LLC increased its position in shares of Plains GP by 2.0% during the 2nd quarter. Chickasaw Capital Management LLC now owns 8,338,521 shares of the pipeline company's stock valued at $162,017,000 after purchasing an additional 167,061 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Plains GP by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company's stock valued at $111,518,000 after purchasing an additional 29,911 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Stock Performance

Shares of PAGP stock opened at $19.07 on Thursday. Plains GP has a 12 month low of $16.60 and a 12 month high of $22.31. The stock has a market cap of $3.77 billion, a PE ratio of 35.98 and a beta of 0.70. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company's fifty day moving average price is $19.37 and its 200-day moving average price is $19.64.

Plains GP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.0%. Plains GP's payout ratio is 220.29%.

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.

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