Shares of Plains GP Holdings LP (NYSE:PAGP) have been assigned a consensus rating of “Buy” from the twenty brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $28.57.

A number of equities analysts have weighed in on PAGP shares. Zacks Investment Research upgraded shares of Plains GP from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, May 16th. ValuEngine upgraded shares of Plains GP from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Evercore ISI started coverage on shares of Plains GP in a report on Tuesday, February 5th. They issued a $24.00 price target on the stock.

In other news, Director Everardo Goyanes sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $24.60, for a total value of $492,000.00. Following the transaction, the director now owns 32,305 shares of the company’s stock, valued at approximately $794,703. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.31% of the company’s stock.

Hedge funds have recently modified their holdings of the company. APG Asset Management N.V. raised its stake in shares of Plains GP by 203.7% in the 4th quarter. APG Asset Management N.V. now owns 1,581,500 shares of the pipeline company’s stock valued at $27,808,000 after acquiring an additional 1,060,836 shares during the period. Legal & General Group Plc raised its stake in shares of Plains GP by 42.0% in the 4th quarter. Legal & General Group Plc now owns 127,445 shares of the pipeline company’s stock valued at $2,561,000 after acquiring an additional 37,702 shares during the period. Korea Investment CORP raised its stake in shares of Plains GP by 5.1% in the 4th quarter. Korea Investment CORP now owns 309,100 shares of the pipeline company’s stock valued at $6,213,000 after acquiring an additional 15,100 shares during the period. Brasada Capital Management LP increased its stake in Plains GP by 6.8% during the 1st quarter. Brasada Capital Management LP now owns 62,933 shares of the pipeline company’s stock worth $1,568,000 after buying an additional 3,992 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Plains GP by 80.5% during the 4th quarter. Mackenzie Financial Corp now owns 956,714 shares of the pipeline company’s stock worth $19,230,000 after buying an additional 426,700 shares during the period. 84.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of PAGP traded up $0.28 during mid-day trading on Thursday, reaching $24.29. The company had a trading volume of 2,283,500 shares, compared to its average volume of 1,387,024. The firm has a market cap of $3.87 billion, a PE ratio of 11.51 and a beta of 1.20. Plains GP has a fifty-two week low of $19.17 and a fifty-two week high of $27.00. The company has a quick ratio of 0.84, a current ratio of 1.02 and a debt-to-equity ratio of 0.68.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Tuesday, May 7th. The pipeline company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.49. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $10.54 billion. Plains GP had a net margin of 1.31% and a return on equity of 3.41%. Plains GP’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. As a group, equities research analysts anticipate that Plains GP will post 1.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date was Tuesday, April 30th. This is an increase from Plains GP’s previous quarterly dividend of $0.30. Plains GP’s dividend payout ratio (DPR) is currently 68.25%.

Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

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Analyst Recommendations for Plains GP (NYSE:PAGP)

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