Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.67 Average Target Price from Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) have been assigned an average recommendation of "Hold" from the six ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $20.83.

A number of brokerages have recently commented on PAGP. Barclays cut their price target on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. StockNews.com lowered Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Wells Fargo & Company downgraded shares of Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Raymond James increased their target price on shares of Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th.

Plains GP Trading Up 1.0 %

Shares of Plains GP stock traded up $0.19 on Friday, hitting $18.82. The stock had a trading volume of 86,790 shares, compared to its average volume of 1,592,014. The stock has a 50 day moving average of $20.55 and a 200 day moving average of $19.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP has a twelve month low of $16.61 and a twelve month high of $22.31. The firm has a market capitalization of $3.72 billion, a P/E ratio of 35.47 and a beta of 1.11.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.08%. Plains GP's dividend payout ratio (DPR) is currently 286.79%.

Institutional Trading of Plains GP

Institutional investors have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. raised its stake 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 valued at $229,989,000 after acquiring an additional 927,855 shares during the period. Chickasaw Capital Management LLC grew its holdings in Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company's stock valued at $151,047,000 after buying an additional 1,629,008 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Plains GP by 11.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company's stock valued at $113,077,000 after buying an additional 646,130 shares during the period. Two Sigma Advisers LP boosted its holdings in Plains GP by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock valued at $73,610,000 after purchasing an additional 19,900 shares during the period. Finally, Vanguard Group Inc. grew its position in Plains GP by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company's stock worth $58,213,000 after buying an additional 288,430 shares in the last quarter. Institutional investors own 88.30% of the company's stock.

Plains GP Company Profile

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.