Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.71 Average Target Price from Analysts

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) has earned an average rating of "Hold" from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $20.71.

Several brokerages recently commented on PAGP. Morgan Stanley boosted their price target on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 25th. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Citigroup dropped their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Mizuho dropped their target price on Plains GP from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Finally, Barclays dropped their target price on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th.

Plains GP Stock Performance

Shares of NYSE:PAGP traded up $0.45 during trading on Friday, hitting $18.31. 1,463,089 shares of the stock were exchanged, compared to its average volume of 1,541,054. Plains GP has a 1-year low of $16.61 and a 1-year high of $22.31. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 34.55 and a beta of 0.68. The company's fifty day simple moving average is $18.60 and its 200-day simple moving average is $19.69. 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 disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.30%. The ex-dividend date was Thursday, May 1st. Plains GP's dividend payout ratio (DPR) is 205.41%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 520 shares during the last quarter. Blue Trust Inc. raised its position in shares of Plains GP by 3.7% in the 1st 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 shares of Plains GP by 0.7% in the 4th 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 shares of Plains GP by 3.0% in the 4th 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 grew its stake in shares of Plains GP by 2.4% in the 4th quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company's stock valued at $624,000 after buying an additional 802 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.