Brokerages Set Plains GP Holdings, L.P. (NYSE:PAGP) Price Target at $19.88

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned an average rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $19.88.

PAGP has been the subject of several analyst reports. Wolfe Research upgraded Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Continuum Advisory LLC raised its position in shares of Plains GP by 10.0% in the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after buying an additional 637 shares during the last quarter. SL Advisors LLC increased its stake in Plains GP by 3.3% during the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock worth $394,000 after buying an additional 679 shares during the period. NewEdge Advisors LLC boosted its holdings in Plains GP by 0.9% in the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock valued at $1,407,000 after purchasing an additional 681 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Plains GP by 1.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock worth $720,000 after buying an additional 717 shares during the last quarter. Finally, Townsquare Capital LLC raised its stake in shares of Plains GP by 1.2% in the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after purchasing an additional 729 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Up 1.5 %

NYSE:PAGP opened at $18.51 on Tuesday. The firm has a market cap of $3.66 billion, a P/E ratio of 21.45 and a beta of 1.54. The firm has a 50-day simple moving average of $18.43 and a two-hundred day simple moving average of $18.57. Plains GP has a fifty-two week low of $14.93 and a fifty-two week high of $20.10. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.86%. Plains GP’s payout ratio is 149.41%.

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.