Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.88 Average Price Target from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) have received an average recommendation of "Hold" from the eight research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.88.

A number of analysts have recently issued reports on PAGP shares. Wall Street Zen upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on shares of Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Barclays lowered their price objective 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. Morgan Stanley lifted their price objective on shares of Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. Finally, Citigroup lowered their price objective 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.

Institutional Trading of Plains GP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after acquiring an additional 520 shares in the last quarter. Blue Trust Inc. raised its position in Plains GP by 3.7% during the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company's stock worth $328,000 after acquiring an additional 545 shares in the last quarter. US Bancorp DE raised its position in Plains GP by 0.7% during the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company's stock worth $1,597,000 after acquiring an additional 598 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company's stock worth $471,000 after acquiring an additional 748 shares in the last quarter. Finally, ELCO Management Co. LLC raised its position in Plains GP by 2.4% during the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock worth $624,000 after acquiring an additional 802 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Down 0.1%

PAGP traded down $0.02 during trading on Wednesday, reaching $19.37. The company had a trading volume of 1,512,232 shares, compared to its average volume of 1,603,419. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP has a 12 month low of $16.61 and a 12 month high of $22.31. The business's fifty day moving average price is $18.53 and its 200 day moving average price is $19.65. The company has a market cap of $3.83 billion, a P/E ratio of 36.55 and a beta of 0.63.

Plains GP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.85%. The ex-dividend date was Thursday, May 1st. Plains GP's dividend payout ratio (DPR) is currently 205.41%.

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.