Plains GP Holdings, L.P. (NYSE:PAGP) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been given an average rating of “Moderate Buy” by the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $25.33.

PAGP has been the subject of several research analyst reports. Citigroup upped their target price on Plains GP from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 17th. Morgan Stanley upped their price target on Plains GP from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Mizuho lifted their target price on shares of Plains GP from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. JPMorgan Chase & Co. upped their price target on Plains GP from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Finally, UBS Group increased their price objective on shares of Plains GP from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, October 9th.

Institutional Trading of Plains GP

Institutional investors have recently modified their holdings of the stock. First Bancorp Inc ME acquired a new position in Plains GP in the second quarter valued at $30,000. North Star Investment Management Corp. purchased a new position in Plains GP in the first quarter worth $56,000. Continuum Advisory LLC acquired a new stake in shares of Plains GP in the second quarter valued at about $61,000. Ameritas Advisory Services LLC acquired a new stake in shares of Plains GP during the 2nd quarter valued at approximately $64,000. Finally, O Domhnaill Enterprises Inc. purchased a new stake in Plains GP during the first quarter worth $66,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of PAGP stock opened at $27.45 on Tuesday. The business has a fifty day moving average of $26.97 and a 200 day moving average of $25.34. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 51.79 and a beta of 0.54. Plains GP has a 1 year low of $16.82 and a 1 year high of $28.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Friday, October 30th. Plains GP’s dividend payout ratio is presently 59.86%.

About Plains GP

Plains GP Holdings, L.P. is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. Its business exposure is primarily derived from Plains All American, which operates energy infrastructure used to transport, store, gather and handle crude oil and natural gas liquids.

Through its ownership interests in Plains All American and its general partner structure, Plains GP Holdings provides investors with an indirect interest in the operations of one of North America’s major midstream energy companies.