Plains GP Holdings, L.P. (NYSE:PAGP) to Issue Dividend Increase – $0.38 Per Share

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Investors of record on Friday, January 31st will be paid a dividend of 0.38 per share by the pipeline company on Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 7.63%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Plains GP’s previous quarterly dividend of $0.32.

Plains GP Stock Performance

Shares of Plains GP stock opened at $19.93 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP has a fifty-two week low of $15.78 and a fifty-two week high of $20.10. The firm has a market capitalization of $3.94 billion, a P/E ratio of 23.45 and a beta of 1.58. The company’s 50 day moving average price is $18.71 and its two-hundred day moving average price is $18.79.

Analyst Ratings Changes

PAGP has been the subject of several research reports. Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Wolfe Research upgraded Plains GP to a “hold” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.88.

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.