Plains GP Holdings, L.P. (NYSE:PAGP) Receives $19.55 Consensus PT from Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.55.

PAGP has been the subject of a number of recent analyst reports. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Stifel Nicolaus lifted their price target on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group lifted their target price on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Scotiabank assumed coverage on Plains GP in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. Finally, UBS Group increased their target price on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 12th.

Plains GP Stock Down 0.8 %

Shares of NYSE:PAGP opened at $18.76 on Friday. The stock has a market capitalization of $3.70 billion, a P/E ratio of 18.39 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 0.98. Plains GP has a 1 year low of $12.59 and a 1 year high of $19.77. The stock has a 50-day simple moving average of $18.01 and a 200-day simple moving average of $16.74.

Plains GP (NYSE:PAGP) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.88 billion. Plains GP had a net margin of 0.41% and a return on equity of 1.33%. Equities analysts forecast that Plains GP will post 1.05 earnings per share for the current year.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.77%. Plains GP’s dividend payout ratio (DPR) is presently 124.51%.

Hedge Funds Weigh In On Plains GP

Large investors have recently added to or reduced their stakes in the company. Spire Wealth Management raised its stake in Plains GP by 63.2% during the third quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 983 shares in the last quarter. Rational Advisors LLC acquired a new position in shares of Plains GP in the 3rd quarter worth approximately $43,000. Mather Group LLC. acquired a new position in shares of Plains GP in the 1st quarter worth approximately $44,000. Allworth Financial LP bought a new stake in Plains GP during the 3rd quarter worth approximately $48,000. Finally, Allspring Global Investments Holdings LLC raised its position in Plains GP by 95.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 1,697 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Company Profile

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.