Plains GP Holdings, L.P. (NYSE:PAGP) Given Consensus Rating of “Hold” by Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned an average rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.60.

A number of analysts have weighed in on PAGP shares. Raymond James raised their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Barclays upped their price objective on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a report on Monday, February 10th.

Institutional Investors Weigh In On Plains GP

A number of large investors have recently made changes to their positions in PAGP. Eastern Bank purchased a new position in shares of Plains GP during the 3rd quarter worth $76,000. Wealth Enhancement Advisory Services LLC lifted its position in Plains GP by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 717 shares in the last quarter. Inscription Capital LLC grew its holdings in Plains GP by 4.2% during the third quarter. Inscription Capital LLC now owns 55,029 shares of the pipeline company’s stock valued at $1,018,000 after purchasing an additional 2,201 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in Plains GP in the third quarter worth about $200,000. Finally, Golden State Equity Partners raised its stake in shares of Plains GP by 21.6% in the third quarter. Golden State Equity Partners now owns 12,449 shares of the pipeline company’s stock worth $230,000 after buying an additional 2,214 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Plains GP Stock Down 1.1 %

Shares of NYSE:PAGP opened at $21.45 on Thursday. Plains GP has a 12-month low of $16.90 and a 12-month high of $22.31. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 40.47 and a beta of 1.58. The stock has a fifty day simple moving average of $20.31 and a two-hundred day simple moving average of $19.27. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.38 dividend. This is an increase from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.09%. Plains GP’s dividend payout ratio is currently 286.79%.

About Plains GP

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.