Plains GP Holdings, L.P. (NYSE:PAGP) Declares Quarterly Dividend of $0.38

Plains GP Holdings, L.P. (NYSE:PAGP) declared a quarterly dividend on Tuesday, January 7th,Wall Street Journal reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.38 per share by the pipeline company on Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 6.99%. The ex-dividend date is Friday, January 31st. This is a boost from Plains GP’s previous quarterly dividend of $0.32.

Plains GP Price Performance

Shares of NYSE:PAGP opened at $21.74 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $4.29 billion, a PE ratio of 25.58 and a beta of 1.58. The stock has a fifty day moving average of $19.51 and a 200-day moving average of $18.97. Plains GP has a one year low of $15.78 and a one year high of $22.31.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). Plains GP had a net margin of 0.33% and a return on equity of 1.12%. The firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. As a group, equities analysts anticipate that Plains GP will post 0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PAGP has been the topic of a number of research reports. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Barclays upped their target price on Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Plains GP currently has an average rating of “Hold” and an average target price of $20.60.

About Plains GP

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.