Plains GP Holdings, L.P. (NYSE:PAGP) Plans Dividend Increase - $0.38 Per Share

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) declared a quarterly dividend on Wednesday, January 8th,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 dividend on an annualized basis and a dividend yield of 7.63%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Plains GP's previous quarterly dividend of $0.32.

Plains GP Price Performance

Shares of NYSE PAGP traded up $1.15 during mid-day trading on Wednesday, reaching $19.93. 3,325,209 shares of the company were exchanged, compared to its average volume of 1,795,393. The stock has a market capitalization of $3.94 billion, a PE ratio of 23.45 and a beta of 1.58. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP has a 52 week low of $15.78 and a 52 week high of $20.10. The company's 50 day moving average price is $18.71 and its 200 day moving average price is $18.79.

Analysts Set New Price Targets

Several analysts have issued reports on PAGP shares. StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Wolfe Research upgraded shares of Plains GP to a "hold" rating in a research report on Wednesday, September 18th. Wells Fargo & Company cut Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Morgan Stanley lowered Plains GP from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $19.88.

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.