Plains GP Holdings, L.P. (NYSE:PAGP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $20.60.

Several analysts recently commented on PAGP shares. Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Barclays upped their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, January 10th. Raymond James upped their price objective on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th.

Plains GP Trading Up 0.7 %

PAGP stock opened at $21.73 on Thursday. Plains GP has a one year low of $16.77 and a one year high of $22.31. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 41.00 and a beta of 1.58. The company has a fifty day moving average price of $20.11 and a two-hundred day moving average price of $19.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.38 per share. This is a boost from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 6.99%. Plains GP’s dividend payout ratio is currently 286.80%.

Hedge Funds Weigh In On Plains GP

Several hedge funds have recently bought and sold shares of PAGP. Jones Financial Companies Lllp boosted its position in shares of Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 520 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Plains GP by 0.7% in the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock valued at $1,597,000 after purchasing an additional 598 shares in the last quarter. Continuum Advisory LLC increased its stake in shares of Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after purchasing an additional 637 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Plains GP by 1.9% during the 3rd 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 in the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after buying an additional 729 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Company Profile

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.