Plains GP Holdings, L.P. (NYSE:PAGP) Receives Consensus Recommendation of “Hold” from Analysts

Plains GP Holdings, L.P. (NYSE:PAGP) has been given a consensus rating of “Hold” by the nine analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $20.1250.

A number of brokerages have recently commented on PAGP. JPMorgan Chase & Co. cut their target price on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th. Wolfe Research reissued a “peer perform” rating on shares of Plains GP in a research note on Friday, July 25th. Raymond James Financial dropped their price target on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Friday. Morgan Stanley dropped their price target on shares of Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Finally, Barclays dropped their price target on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th.

Plains GP Stock Performance

Shares of PAGP stock opened at $17.72 on Tuesday. The company’s fifty day simple moving average is $18.24 and its 200-day simple moving average is $18.66. Plains GP has a 52 week low of $16.60 and a 52 week high of $22.31. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.50 billion, a PE ratio of 33.43 and a beta of 0.68.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 8.6%. Plains GP’s payout ratio is 220.29%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Kesler Norman & Wride LLC raised its holdings in shares of Plains GP by 1.3% during the second quarter. Kesler Norman & Wride LLC now owns 48,882 shares of the pipeline company’s stock valued at $950,000 after acquiring an additional 618 shares during the period. Stephens Inc. AR increased its stake in Plains GP by 0.3% in the 2nd quarter. Stephens Inc. AR now owns 223,570 shares of the pipeline company’s stock valued at $4,344,000 after buying an additional 739 shares during the period. Baker Avenue Asset Management LP increased its stake in Plains GP by 8.2% in the 2nd quarter. Baker Avenue Asset Management LP now owns 10,278 shares of the pipeline company’s stock valued at $200,000 after buying an additional 778 shares during the period. Founders Capital Management increased its stake in Plains GP by 1.2% in the 2nd quarter. Founders Capital Management now owns 67,202 shares of the pipeline company’s stock valued at $1,306,000 after buying an additional 797 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Plains GP by 36.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after buying an additional 811 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

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.