Plains GP Holdings, L.P. (NYSE:PAGP) Receives $20.11 Average Price Target from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been assigned an average rating of “Hold” from the ten ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.11.

Several equities analysts have weighed in on PAGP shares. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley lifted their target price on shares of Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in Plains GP by 0.9% during the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock valued at $1,407,000 after acquiring an additional 681 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Plains GP by 4.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 755 shares during the period. Hexagon Capital Partners LLC grew its holdings in Plains GP by 22.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock valued at $87,000 after buying an additional 833 shares during the last quarter. Moors & Cabot Inc. increased its position in Plains GP by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 259,495 shares of the pipeline company’s stock worth $4,884,000 after buying an additional 959 shares during the period. Finally, CWM LLC lifted its holdings in shares of Plains GP by 61.0% during the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after buying an additional 1,147 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

Plains GP stock opened at $18.61 on Monday. Plains GP has a fifty-two week low of $14.71 and a fifty-two week high of $20.10. The firm’s 50 day simple moving average is $18.84 and its 200-day simple moving average is $18.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. The company has a market cap of $3.67 billion, a P/E ratio of 21.15 and a beta of 1.53.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.11). The firm had revenue of $12.93 billion for the quarter, compared to analysts’ expectations of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, equities research analysts predict that Plains GP will post 1.24 EPS for the current year.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.3175 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.82%. Plains GP’s dividend payout ratio is currently 144.32%.

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.