Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.11 Average PT from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned an average recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.11.

A number of research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Wolfe Research raised Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

Plains GP Price Performance

Shares of PAGP stock opened at $18.61 on Monday. The company has a market capitalization of $3.67 billion, a P/E ratio of 21.15 and a beta of 1.53. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. Plains GP has a 12 month low of $14.71 and a 12 month high of $20.10. The stock has a 50 day moving average of $18.84 and a two-hundred day moving average of $18.60.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same period last year, the firm earned $0.25 EPS. As a group, equities analysts expect that Plains GP will post 1.24 EPS for the current year.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.3175 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.82%. Plains GP’s dividend payout ratio is 144.32%.

Institutional Investors Weigh In On Plains GP

Hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its stake in shares of Plains GP by 0.9% in the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock worth $1,407,000 after acquiring an additional 681 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Plains GP by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 755 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Plains GP by 22.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock worth $87,000 after buying an additional 833 shares in the last quarter. Moors & Cabot Inc. boosted its position in Plains GP by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 259,495 shares of the pipeline company’s stock valued at $4,884,000 after buying an additional 959 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Plains GP by 61.0% in the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after buying an additional 1,147 shares during the period. Institutional investors own 88.30% of the company’s stock.

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.