Plains GP Holdings, L.P. (NYSE:PAGP) Receives Consensus Recommendation of “Hold” from Analysts

Plains GP Holdings, L.P. (NYSE:PAGP) has been given an average recommendation of “Hold” by the nine brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $19.88.

A number of analysts have weighed in on the company. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Wolfe Research raised Plains GP to a “hold” rating in a report on Wednesday, September 18th.

Institutional Trading of Plains GP

Institutional investors and hedge funds have recently bought and sold shares of the business. ORG Partners LLC acquired a new position in shares of Plains GP during the 2nd quarter worth $44,000. CWM LLC grew its stake in shares of Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 1,147 shares during the period. Hara Capital LLC acquired a new position in shares of Plains GP during the 3rd quarter worth $57,000. Unique Wealth Strategies LLC acquired a new position in shares of Plains GP during the 2nd quarter worth $70,000. Finally, Eastern Bank acquired a new position in shares of Plains GP during the 3rd quarter worth $76,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

PAGP stock opened at $18.32 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $18.50 and its two-hundred day simple moving average is $18.58. Plains GP has a twelve month low of $14.93 and a twelve month high of $20.10. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 21.55 and a beta of 1.54.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 6.93%. Plains GP’s dividend payout ratio (DPR) is 149.41%.

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.