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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) have received a consensus rating of "Hold" from the five analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $21.40.

A number of analysts have recently issued reports on PAGP shares. Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Friday, January 10th. Morgan Stanley boosted their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 25th. StockNews.com cut Plains GP from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Raymond James upped their target price on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Barclays decreased their price target on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th.

Plains GP Price Performance

Shares of PAGP opened at $17.24 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market capitalization of $3.41 billion, a PE ratio of 32.53 and a beta of 1.11. The stock has a 50 day simple moving average of $19.84 and a 200 day simple moving average of $19.69. Plains GP has a 52-week low of $16.61 and a 52-week high of $22.31.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.82%. The ex-dividend date is Thursday, May 1st. Plains GP's dividend payout ratio is 286.79%.

Hedge Funds Weigh In On Plains GP

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in shares of Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after buying an additional 520 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Plains GP during the fourth quarter worth approximately $33,000. Allworth Financial LP bought a new stake in shares of Plains GP during the fourth quarter worth approximately $44,000. Farther Finance Advisors LLC increased its stake in shares of Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after purchasing an additional 2,355 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its stake in shares of Plains GP by 1,000.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock worth $81,000 after purchasing an additional 4,000 shares during the period. 88.30% of the stock is owned by institutional investors.

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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