Plains GP Holdings, L.P. (NYSE:PAGP) Receives $19.88 Average Price Target from Analysts

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) has been given a consensus rating of "Hold" by the nine analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.88.

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Wolfe Research upgraded shares of Plains GP to a "hold" rating in a report on Wednesday, September 18th. Finally, Morgan Stanley cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th.

Plains GP Stock Down 1.8 %

Plains GP stock traded down $0.35 during midday trading on Friday, reaching $19.58. The stock had a trading volume of 1,022,251 shares, compared to its average volume of 1,511,629. The company has a fifty day moving average price of $18.59 and a two-hundred day moving average price of $18.66. 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 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.87 billion, a P/E ratio of 23.04 and a beta of 1.57.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP's dividend payout ratio (DPR) is currently 149.41%.

Hedge Funds Weigh In On Plains GP

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new position in shares of Plains GP during the 1st quarter valued at $264,000. Cetera Investment Advisers boosted its position in Plains GP by 644.7% during the first quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company's stock worth $2,828,000 after purchasing an additional 134,153 shares during the period. CWM LLC increased its stake in shares of Plains GP by 61.0% in the second quarter. CWM LLC now owns 3,028 shares of the pipeline company's stock worth $57,000 after purchasing an additional 1,147 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Plains GP by 85.6% in the second quarter. SG Americas Securities LLC now owns 92,808 shares of the pipeline company's stock valued at $1,747,000 after purchasing an additional 42,807 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Plains GP by 22.0% during 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 in the last quarter. Institutional investors 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.