Plains GP - PAGP Stock Forecast, Price & News

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks. As of December 31, 2021, this segment owned and leased assets comprising 18,300 miles of crude oil and NGL pipelines and gathering systems; 38 million barrels of above-ground tank capacity; and 1,275 trailers. It engages in the provision of storage, terminalling, and throughput services primarily for crude oil, NGLs, and natural gas; NGL fractionation and isomerization services; and natural gas and condensate processing services. As of December 31, 2021, this segment owned and operated approximately 74 million barrels of crude oil storage capacity; 28 million barrels of NGL storage capacity; four natural gas processing plants; a condensate processing facility; nine fractionation plants; 16 NGL rail terminals; four marine facilities; and 110 miles of pipelines. As of December 31, 2021, this segment owned 15 million barrels of crude oil and 2 NGL linefill; 3 million barrels of crude oil and 1 NGL linefill in pipelines owned by third parties and other inventory; 640 trucks and 1,275 trailers; and 3,900 NGL railcars. The company offers logistics services to producers, refiners, and other customers. PAA GP Holdings LLC operates as a general partner of the company. Plains GP Holdings, L.P. was incorporated in 2013 and is headquartered in Houston, Texas.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PAGP shares. Wolfe Research downgraded shares of Plains GP from an "outperform" rating to a "market perform" rating in a report on Monday, August 1st. UBS Group upped their target price on Plains GP from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday. Raymond James upped their target price on Plains GP from $12.00 to $13.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 20th. Barclays dropped their price objective on shares of Plains GP from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 20th. Finally, Credit Suisse Group raised shares of Plains GP from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $13.00 to $14.00 in a research note on Thursday, May 12th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Plains GP presently has a consensus rating of "Hold" and a consensus target price of $14.19.

Plains GP Price Performance

NYSE:PAGP traded up $0.02 during mid-day trading on Friday, hitting $11.22. The stock had a trading volume of 6,038,668 shares, compared to its average volume of 2,768,629. The firm's 50 day moving average is $10.96 and its 200 day moving average is $11.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.94 and a quick ratio of 0.88. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.35 and a beta of 1.71. Plains GP has a twelve month low of $9.24 and a twelve month high of $12.84.

Plains GP (NYSE:PAGP - Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The pipeline company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.31). Plains GP had a return on equity of 0.87% and a net margin of 0.21%. The business had revenue of $13.69 billion during the quarter, compared to analysts' expectations of $12.13 billion. Equities research analysts forecast that Plains GP will post 0.88 earnings per share for the current fiscal year.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date of this dividend is Thursday, July 28th. Plains GP's dividend payout ratio (DPR) is currently 150.00%.