Plains GP Holdings, L.P. (NYSE:PAGP) Given Average Rating of "Hold" by Brokerages

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) has been given a consensus rating of "Hold" by the ten ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.60.

A number of analysts recently issued reports on the company. Raymond James upped their target price on Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. StockNews.com cut Plains GP from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Wolfe Research raised Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Wells Fargo & Company cut Plains GP from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Barclays increased their price objective on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAGP. Aegis Wealth Management LLC purchased a new stake in shares of Plains GP during the fourth quarter worth about $310,000. McIlrath & Eck LLC acquired a new position in Plains GP in the fourth quarter valued at approximately $166,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Plains GP by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,072 shares of the pipeline company's stock valued at $7,794,000 after acquiring an additional 1,997 shares during the period. Vident Advisory LLC acquired a new position in Plains GP in the fourth quarter valued at approximately $1,751,000. Finally, Two Sigma Advisers LP boosted its stake in Plains GP by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company's stock valued at $73,610,000 after acquiring an additional 19,900 shares during the period. Institutional investors and hedge funds own 88.30% of the company's stock.

Plains GP Stock Up 0.2 %

NYSE PAGP traded up $0.04 during trading hours on Monday, hitting $21.56. 747,675 shares of the company were exchanged, compared to its average volume of 1,501,524. The company has a 50 day moving average of $21.17 and a two-hundred day moving average of $19.53. 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 $17.17 and a 52-week high of $22.31. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 40.68 and a beta of 1.55.

Plains GP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.05%. This is a boost from Plains GP's previous quarterly dividend of $0.32. Plains GP's dividend payout ratio (DPR) is presently 286.79%.

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.