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

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 recommendation, four have given 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 brokers that have updated their coverage on the stock in the last year is $20.88.

A number of brokerages have recently weighed in on PAGP. 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. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Mizuho upped their target price on Plains GP from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. upped their target price on Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Finally, Citigroup dropped their target price on 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

A number of hedge funds and other institutional investors have recently made changes to their positions in PAGP. Farther Finance Advisors LLC grew its position in shares of Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after buying an additional 2,355 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Plains GP during the 2nd quarter worth approximately $51,000. Mark Sheptoff Financial Planning LLC boosted its holdings in 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 last quarter. Golden State Wealth Management LLC boosted its holdings 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 worth $128,000 after buying an additional 4,195 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Plains GP during the first quarter worth about $135,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Price Performance

NYSE PAGP traded up $0.10 on Friday, reaching $19.85. The company's stock had a trading volume of 722,472 shares, compared to its average volume of 1,608,465. Plains GP has a twelve month low of $16.61 and a twelve month 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. The stock has a market cap of $3.93 billion, a PE ratio of 37.45 and a beta of 0.65. The firm's 50 day moving average is $18.94 and its two-hundred day moving average is $19.78.

Plains GP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 7.66%. Plains GP's dividend payout ratio is currently 205.41%.

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.