Brokerages Set Plains GP Holdings, L.P. (NYSE:PAGP) Price Target at $20.11

Plains GP Holdings, L.P. (NYSE:PAGP) has earned an average rating of “Hold” from the ten research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.11.

Several equities research analysts recently issued reports on PAGP shares. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PAGP. Mather Group LLC. purchased a new stake in shares of Plains GP in the 1st quarter valued at approximately $44,000. ORG Partners LLC acquired a new stake in Plains GP in the second quarter valued at $44,000. CWM LLC raised its stake in Plains GP by 61.0% in the second 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 in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Plains GP by 35.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock worth $69,000 after buying an additional 1,001 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Plains GP during the 2nd quarter worth about $70,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Trading Down 0.4 %

PAGP stock opened at $18.41 on Friday. Plains GP has a 12-month low of $14.93 and a 12-month high of $20.10. The business’s 50-day moving average is $18.74 and its 200 day moving average is $18.67. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 20.92 and a beta of 1.53.

Plains GP (NYSE:PAGP) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.11). The business had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.09%. During the same quarter last year, the company earned $0.25 earnings per share. On average, sell-side analysts anticipate that Plains GP will post 1.24 EPS for the current fiscal year.

Plains GP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Thursday, October 31st. Plains GP’s payout ratio is currently 144.32%.

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.