Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.50 Average PT from Analysts

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

Several research firms have weighed in on PAGP. Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Citigroup cut their target price on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Wolfe Research restated a "peer perform" rating on shares of Plains GP in a report on Friday, July 25th. Morgan Stanley dropped 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th.

Institutional Investors Weigh In On Plains GP

A number of hedge funds and other institutional investors have recently made changes to their positions in PAGP. Huntington National Bank acquired a new stake in shares of Plains GP during the second quarter worth $31,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Plains GP by 378.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,997 shares of the pipeline company's stock worth $39,000 after acquiring an additional 1,580 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Plains GP in the 2nd quarter valued at $51,000. CWM LLC increased its stake in Plains GP by 394.5% in the 2nd quarter. CWM LLC now owns 2,883 shares of the pipeline company's stock valued at $56,000 after buying an additional 2,300 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in Plains GP by 36.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company's stock valued at $58,000 after buying an additional 811 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Trading Up 0.5%

PAGP traded up $0.10 during mid-day trading on Monday, hitting $18.51. The stock had a trading volume of 722,611 shares, compared to its average volume of 1,662,947. The stock's fifty day simple moving average is $19.28 and its 200-day simple moving average is $19.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 34.93 and a beta of 0.76. Plains GP has a 1-year low of $16.60 and a 1-year high of $22.31.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date was Thursday, July 31st. Plains GP's dividend payout ratio (DPR) is presently 220.29%.

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.