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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PAGP shares. Barclays cut their target price on shares of Plains GP from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 20th. Raymond James raised their price target on shares of Plains GP from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Wednesday, April 20th. Bank of America raised shares of Plains GP from an "underperform" rating to a "neutral" rating and set a $12.00 price target for the company in a research note on Tuesday, July 19th. UBS Group raised their price target on shares of Plains GP from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday. Finally, StockNews.com downgraded shares of Plains GP from a "buy" rating to a "hold" rating in a research note on Monday, April 18th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $14.19.

Plains GP Stock Down 0.4 %

PAGP traded down $0.04 during midday trading on Monday, hitting $11.18. The company had a trading volume of 3,305,762 shares, compared to its average volume of 3,057,824. Plains GP has a 52 week low of $9.24 and a 52 week high of $12.84. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 19.28 and a beta of 1.71. The stock's 50 day moving average price is $10.94 and its 200 day moving average price is $11.36.

Plains GP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be issued a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date of this dividend is Thursday, July 28th. Plains GP's dividend payout ratio is currently 150.00%.