Brokerages Set Plains GP Holdings, L.P. (NYSE:PAGP) Price Target at $20.60

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

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

Plains GP Stock Down 1.0 %

Shares of Plains GP stock opened at $21.34 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $21.23 and its 200-day simple moving average is $19.56. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 40.26 and a beta of 1.55. Plains GP has a twelve month low of $17.17 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. Shareholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This is a positive change from Plains GP’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date of this dividend was Friday, January 31st. Plains GP’s dividend payout ratio (DPR) is presently 286.79%.

Hedge Funds Weigh In On Plains GP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAGP. Thompson Siegel & Walmsley LLC bought a new stake in shares of Plains GP during the 3rd quarter worth $13,848,000. Algert Global LLC boosted its stake in shares of Plains GP by 128.6% during the 3rd quarter. Algert Global LLC now owns 87,659 shares of the pipeline company’s stock worth $1,622,000 after acquiring an additional 49,320 shares in the last quarter. Larson Financial Group LLC bought a new stake in shares of Plains GP during the 3rd quarter worth $353,000. BNP Paribas Financial Markets boosted its stake in shares of Plains GP by 8.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,313,974 shares of the pipeline company’s stock worth $24,309,000 after acquiring an additional 103,353 shares in the last quarter. Finally, Townsquare Capital LLC boosted its stake 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 acquiring an additional 729 shares in the last quarter. 88.30% of the stock is owned by institutional investors.

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.