Plains GP Holdings, L.P. (NYSE:PAGP – Get Free Report) announced a dividend on Thursday, October 1st. Shareholders of record on Friday, October 30th will be paid a dividend of $0.4175 per share by the pipeline company on Friday, November 13th. The ex-dividend date is Friday, October 30th.
Plains GP has increased its dividend by an average of 0.1%annually over the last three years. Plains GP has a dividend payout ratio of 105.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Plains GP to earn $1.87 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 89.3%.
Plains GP Stock Performance
Shares of NYSE PAGP traded up $0.05 during midday trading on Friday, reaching $25.98. 866,665 shares of the company were exchanged, compared to its average volume of 1,779,219. The stock has a market cap of $5.14 billion, a P/E ratio of 48.97 and a beta of 0.48. 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 stock has a fifty day simple moving average of $26.80 and a 200 day simple moving average of $25.13. Plains GP has a 1 year low of $16.68 and a 1 year high of $28.70.
About Plains GP
Plains GP Holdings, L.P. is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. Its business exposure is primarily derived from Plains All American, which operates energy infrastructure used to transport, store, gather and handle crude oil and natural gas liquids.
Through its ownership interests in Plains All American and its general partner structure, Plains GP Holdings provides investors with an indirect interest in the operations of one of North America’s major midstream energy companies.
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