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

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) has been given an average rating of "Hold" by the eight brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $20.88.

Several brokerages recently commented on PAGP. Mizuho boosted their price target on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price target on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Barclays decreased their price target on Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Citigroup decreased their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th.

Institutional Investors Weigh In On Plains GP

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Plains GP by 8,120.7% in the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after acquiring an additional 2,355 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Plains GP during the second quarter worth about $51,000. Mark Sheptoff Financial Planning LLC boosted its position 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 buying an additional 4,000 shares during the period. Golden State Wealth Management LLC boosted its position in Plains GP by 233.1% during the first quarter. Golden State Wealth Management LLC now owns 5,995 shares of the pipeline company's stock valued at $128,000 after purchasing an additional 4,195 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Plains GP during the first quarter valued at approximately $135,000. Institutional investors own 88.30% of the company's stock.

Plains GP Stock Performance

Shares of NYSE:PAGP traded up $0.12 during trading on Friday, hitting $19.80. 439,110 shares of the stock were exchanged, compared to its average volume of 1,606,083. 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 $3.91 billion, a price-to-earnings ratio of 37.29 and a beta of 0.65. The company's fifty day simple moving average is $18.88 and its 200-day simple moving average is $19.77. 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 will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.68%. Plains GP's payout ratio 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.