Plains GP Holdings, L.P. (NYSE:PAGP) Plans $0.38 Quarterly Dividend

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) announced a quarterly dividend on Thursday, July 3rd, Wall Street Journal reports. Investors of record on Thursday, July 31st will be paid a dividend of 0.38 per share by the pipeline company on Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date of this dividend is Thursday, July 31st.

Plains GP Trading Up 0.2%

PAGP stock traded up $0.04 during mid-day trading on Friday, reaching $19.55. 602,150 shares of the stock traded hands, compared to its average volume of 1,598,779. Plains GP has a one year low of $16.61 and a one year high of $22.31. The stock has a market capitalization of $3.86 billion, a PE ratio of 36.88 and a beta of 0.63. 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 business has a 50-day moving average price of $18.58 and a two-hundred day moving average price of $19.65.

Analyst Ratings Changes

A number of research firms recently weighed in on PAGP. Barclays reduced their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley raised their price target on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 25th. 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. JPMorgan Chase & Co. increased their target price on Plains GP from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Finally, Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $20.88.

Institutional Investors Weigh In On Plains GP

A hedge fund recently raised its stake in Plains GP stock. Royal Bank of Canada lifted its position in Plains GP Holdings, L.P. (NYSE:PAGP - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,314 shares of the pipeline company's stock after acquiring an additional 26,952 shares during the quarter. Royal Bank of Canada owned 0.24% of Plains GP worth $10,003,000 as of its most recent SEC filing. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.