Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.60 Average Price Target from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have received an average recommendation of “Hold” from the ten brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $20.60.

A number of research analysts have weighed in on PAGP shares. Raymond James raised their price target on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com downgraded Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Friday, January 10th. Finally, Barclays raised their price objective on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th.

Plains GP Stock Down 0.7 %

PAGP stock opened at $21.68 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $20.26 and a two-hundred day moving average price of $19.24. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 40.91 and a beta of 1.58. Plains GP has a twelve month low of $16.90 and a twelve month high of $22.31.

Plains GP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.38 per share. This is a boost from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.01%. The ex-dividend date was Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is presently 286.79%.

Institutional Trading of Plains GP

Hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in 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 purchasing an additional 520 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Plains GP during the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC lifted its holdings in Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 2,355 shares during the last quarter. Allworth Financial LP acquired a new stake in Plains GP during the 4th quarter worth approximately $44,000. Finally, Hara Capital LLC acquired a new stake in Plains GP during the 3rd quarter worth approximately $57,000. 88.30% of the stock is owned by institutional investors and hedge funds.

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.