Plains GP Holdings, L.P. (NYSE:PAGP) Plans $0.32 Quarterly Dividend

Plains GP Holdings, L.P. (NYSE:PAGP) declared a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 annualized dividend and a dividend yield of 6.77%. The ex-dividend date of this dividend is Tuesday, April 30th.

Plains GP has raised its dividend by an average of 5.9% per year over the last three years and has raised its dividend every year for the last 3 years.

Plains GP Stock Performance

Shares of PAGP opened at $18.76 on Monday. Plains GP has a 1 year low of $12.59 and a 1 year high of $19.77. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 18.39 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 0.98. The firm has a fifty day moving average of $18.01 and a 200-day moving average of $16.74.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. As a group, equities analysts anticipate that Plains GP will post 1.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. The Goldman Sachs Group boosted their price target on shares of Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. UBS Group boosted their price target on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Scotiabank initiated coverage on shares of Plains GP in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Plains GP presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.55.

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.