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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) have received an average rating of "Hold" from the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.50.

Several research firms recently weighed in on PAGP. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Morgan Stanley cut their price objective on shares of Plains GP from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 26th. Mizuho boosted their price objective on shares of Plains GP from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Plains GP in a research report on Friday, July 25th.

Plains GP Stock Up 0.3%

NYSE PAGP traded up $0.06 during trading on Monday, reaching $18.70. 1,562,666 shares of the company's stock were exchanged, compared to its average volume of 1,655,887. The company has a 50 day moving average price of $19.22 and a two-hundred day moving average price of $19.26. The stock has a market cap of $3.70 billion, a P/E ratio of 35.28 and a beta of 0.76. Plains GP has a 1 year low of $16.60 and a 1 year high of $22.31. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend was Thursday, July 31st. Plains GP's payout ratio is presently 220.29%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Plains GP by 3.7% in the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company's stock valued at $328,000 after buying an additional 545 shares during the last quarter. Kesler Norman & Wride LLC raised its position in Plains GP by 1.3% in the 2nd quarter. Kesler Norman & Wride LLC now owns 48,882 shares of the pipeline company's stock valued at $950,000 after purchasing an additional 618 shares during the last quarter. Stephens Inc. AR raised its position in Plains GP by 0.3% in the 2nd quarter. Stephens Inc. AR now owns 223,570 shares of the pipeline company's stock valued at $4,344,000 after purchasing an additional 739 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in Plains GP by 8.2% during the 2nd quarter. Baker Avenue Asset Management LP now owns 10,278 shares of the pipeline company's stock worth $200,000 after purchasing an additional 778 shares during the period. Finally, Founders Capital Management grew its position in Plains GP by 1.2% during the 2nd quarter. Founders Capital Management now owns 67,202 shares of the pipeline company's stock worth $1,306,000 after purchasing an additional 797 shares during the last quarter. 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.