Plains GP Holdings, L.P. (NYSE:PAGP – Get Free Report) has earned a consensus rating of “Hold” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $23.00.
Several equities analysts have recently issued reports on the company. US Capital Advisors lowered Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Zacks Research downgraded Plains GP from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Mizuho raised their price objective on Plains GP from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. The Goldman Sachs Group raised Plains GP from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Finally, Barclays increased their target price on shares of Plains GP from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th.
View Our Latest Research Report on PAGP
Plains GP Stock Performance
Plains GP Dividend Announcement
The business also recently disclosed a dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Friday, July 31st. Plains GP’s dividend payout ratio is presently 172.16%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new stake in shares of Plains GP during the 3rd quarter valued at $46,000. North Star Investment Management Corp. acquired a new position in Plains GP in the 1st quarter worth about $56,000. Lazard Asset Management LLC raised its holdings 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 last quarter. O Domhnaill Enterprises Inc. bought a new position in shares of Plains GP during the first quarter valued at $66,000. Finally, Virtus Advisers LLC lifted its holdings in Plains GP by 46.5% during the 4th quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock worth $112,000 after buying an additional 1,859 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.
Plains GP Company Profile
Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.
The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.
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