Plains GP Holdings, L.P. (NYSE:PAGP – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.00.
Several research analysts have commented on the stock. Truist Financial boosted their price target on shares of Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of Plains GP from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Citigroup raised their price objective on shares of Plains GP from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 17th. Morgan Stanley lifted their price objective on shares of Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Finally, UBS Group boosted their target price on shares of Plains GP from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, October 9th.
Check Out Our Latest Analysis on Plains GP
Plains GP Stock Down 0.5%
PAGP stock opened at $27.31 on Tuesday. The company’s 50 day moving average price is $27.02 and its 200 day moving average price is $25.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP has a fifty-two week low of $16.89 and a fifty-two week high of $28.70. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 51.53 and a beta of 0.54.
Plains GP Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.4175 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.67 dividend on an annualized basis and a yield of 6.1%. Plains GP’s dividend payout ratio (DPR) is currently 59.86%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC grew its holdings in shares of Plains GP by 5.3% during the third quarter. CWA Asset Management Group LLC now owns 175,929 shares of the pipeline company’s stock worth $4,557,000 after purchasing an additional 8,880 shares during the last quarter. Ellsworth Advisors LLC increased its position in shares of Plains GP by 4.2% during the third quarter. Ellsworth Advisors LLC now owns 85,996 shares of the pipeline company’s stock worth $2,227,000 after purchasing an additional 3,445 shares in the last quarter. HF Advisory Group LLC lifted its holdings in shares of Plains GP by 3.3% in the 3rd quarter. HF Advisory Group LLC now owns 218,815 shares of the pipeline company’s stock valued at $5,667,000 after purchasing an additional 6,943 shares during the last quarter. Avaii Wealth Management LLC purchased a new stake in shares of Plains GP in the 3rd quarter valued at about $330,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Plains GP by 53.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 80,633 shares of the pipeline company’s stock valued at $2,088,000 after purchasing an additional 28,107 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.
About Plains GP
Plains GP Holdings, L.P. (NYSE:PAGP) is a publicly traded holding company that owns and controls the general partner of Plains All American Pipeline, L.P. Through this ownership interest, Plains GP Holdings is linked to the operations of one of North America’s major midstream energy companies.
Plains All American Pipeline provides transportation, storage, terminalling, gathering, and other logistics services for crude oil and natural gas liquids. Its infrastructure includes pipelines, storage facilities, gathering systems, rail and truck terminals, and other assets used to move energy commodities from producing regions to refineries, processing facilities, and other markets.
The company’s operations primarily serve customers in the United States and Canada, with activity concentrated in key oil- and liquids-producing regions and connected transportation corridors.
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