Plains GP Holdings, L.P. (NYSE:PAGP) Given Average Rating of “Hold” by Brokerages

Plains GP Holdings, L.P. (NYSE:PAGP) has received a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.1429.

Several research firms have recently commented on PAGP. Mizuho set a $23.00 price objective on shares of Plains GP in a research note on Friday, January 23rd. Raymond James Financial decreased their price target on shares of Plains GP from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Friday, October 24th. Morgan Stanley boosted their price target on shares of Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Bank of America lowered Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a report on Wednesday, January 28th. Finally, Zacks Research downgraded Plains GP from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAGP. Oxbow Advisors LLC increased its position in shares of Plains GP by 8.2% in the 4th quarter. Oxbow Advisors LLC now owns 358,030 shares of the pipeline company’s stock valued at $6,853,000 after purchasing an additional 27,106 shares during the last quarter. MGO One Seven LLC grew its stake in shares of Plains GP by 14.6% during the fourth quarter. MGO One Seven LLC now owns 23,580 shares of the pipeline company’s stock worth $451,000 after purchasing an additional 3,012 shares in the last quarter. Navellier & Associates Inc. increased its holdings in Plains GP by 14.0% in the fourth quarter. Navellier & Associates Inc. now owns 16,275 shares of the pipeline company’s stock valued at $312,000 after buying an additional 2,000 shares during the last quarter. Truist Financial Corp raised its stake in Plains GP by 3.7% in the fourth quarter. Truist Financial Corp now owns 52,679 shares of the pipeline company’s stock valued at $1,008,000 after buying an additional 1,891 shares in the last quarter. Finally, Amplify Investments LLC lifted its holdings in Plains GP by 21.4% during the 4th quarter. Amplify Investments LLC now owns 9,911 shares of the pipeline company’s stock worth $174,000 after buying an additional 1,749 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Price Performance

PAGP opened at $21.10 on Thursday. The stock’s 50-day moving average price is $19.49 and its 200 day moving average price is $18.77. Plains GP has a 12-month low of $16.60 and a 12-month high of $21.97. 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 firm has a market cap of $4.18 billion, a price-to-earnings ratio of 39.81 and a beta of 0.57.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 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 7.9%. The ex-dividend date is Friday, January 30th. Plains GP’s dividend payout ratio is presently 179.57%.

Plains GP Company Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.