Plains GP Holdings, L.P. Declares Quarterly Dividend of $0.32 (NYSE:PAGP)

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) announced a quarterly dividend on Wednesday, October 2nd, Wall Street Journal reports. Investors of record on Thursday, October 31st will be paid a dividend of 0.3175 per share by the pipeline company on Thursday, November 14th. This represents a $1.27 annualized dividend and a dividend yield of 6.79%. The ex-dividend date is Thursday, October 31st.

Plains GP has a dividend payout ratio of 73.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Plains GP to earn $1.63 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 77.9%.

Plains GP Stock Down 0.8 %

PAGP stock traded down $0.15 during midday trading on Monday, hitting $18.70. The company's stock had a trading volume of 979,762 shares, compared to its average volume of 1,764,486. The company has a market cap of $3.69 billion, a PE ratio of 21.25 and a beta of 1.53. The firm's 50-day moving average is $18.75 and its 200-day moving average is $18.64. Plains GP has a 12 month low of $14.93 and a 12 month high of $20.10. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP - Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The business had revenue of $12.93 billion for the quarter, compared to analysts' expectations of $13.70 billion. During the same period last year, the business earned $0.25 earnings per share. On average, equities research analysts forecast that Plains GP will post 1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley raised their target price on Plains GP from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Monday, June 10th. StockNews.com upgraded Plains GP from a "hold" rating to a "buy" rating in a research note on Monday, August 5th. Finally, Wolfe Research upgraded Plains GP to a "hold" rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Plains GP currently has a consensus rating of "Hold" and an average target price of $20.11.

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.