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

Key Points

• Plains GP Holdings, L.P. (NYSE:PAGP) has received an average recommendation of "Hold" from nine research firms, with one sell, six hold, one buy, and one strong buy rating among analysts.
• The company's recent quarterly dividend announced is $0.38 per share, yielding 8.3% with a high dividend payout ratio of 220.29%.
• Plains GP has a current market cap of $3.60 billion and its stock recently traded at $18.21, down by 0.5%.

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) has been given an average recommendation of "Hold" by the nine research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $20.50.

Several equities research analysts have recently commented on the company. Morgan Stanley cut their price objective on Plains GP from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Mizuho raised their price target on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. cut their price target on Plains GP from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, September 18th. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Finally, Zacks Research downgraded Plains GP from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th.

Plains GP Trading Down 0.5%

NYSE PAGP opened at $18.21 on Friday. The company has a market cap of $3.60 billion, a PE ratio of 34.36 and a beta of 0.68. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP has a 12 month low of $16.60 and a 12 month high of $22.31. The stock has a 50 day moving average of $18.89 and a 200-day moving average of $19.03.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.3%. Plains GP's dividend payout ratio is 220.29%.

Institutional Investors Weigh In On Plains GP

Several hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC lifted its holdings in Plains GP by 3.3% during the 2nd quarter. Corient Private Wealth LLC now owns 241,961 shares of the pipeline company's stock valued at $4,701,000 after purchasing an additional 7,823 shares during the last quarter. Osaic Holdings Inc. increased its position in Plains GP by 75.3% during the 2nd quarter. Osaic Holdings Inc. now owns 291,320 shares of the pipeline company's stock worth $5,661,000 after buying an additional 125,169 shares during the period. Advisory Services Network LLC increased its position in Plains GP by 17.7% during the 2nd quarter. Advisory Services Network LLC now owns 75,451 shares of the pipeline company's stock worth $1,479,000 after buying an additional 11,326 shares during the period. Asset Dedication LLC bought a new position in Plains GP during the 2nd quarter worth $83,000. Finally, Evergreen Capital Management LLC increased its position in Plains GP by 3.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 740,252 shares of the pipeline company's stock worth $14,383,000 after buying an additional 23,554 shares during the period. Institutional investors and hedge funds 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.

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