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

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) has received an average recommendation of "Hold" from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.60.

PAGP has been the subject of a number of recent research reports. Raymond James boosted their target price on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 28th. Morgan Stanley downgraded Plains GP from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $22.00 to $19.00 in a report on Friday, October 25th. Wells Fargo & Company downgraded Plains GP from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. StockNews.com downgraded Plains GP from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Wolfe Research upgraded Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a report on Friday, January 10th.

Plains GP Trading Down 1.0 %

Shares of PAGP stock traded down $0.23 on Thursday, reaching $21.62. 1,224,322 shares of the stock were exchanged, compared to its average volume of 1,974,372. The stock has a market cap of $4.27 billion, a PE ratio of 40.82 and a beta of 1.58. Plains GP has a one year low of $16.90 and a one year high of $22.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a 50 day moving average price of $20.21 and a 200 day moving average price of $19.21.

Plains GP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.03%. This is a boost from Plains GP's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains GP's payout ratio is presently 286.80%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAGP. Eastern Bank acquired a new position in Plains GP in the third quarter valued at about $76,000. Wealth Enhancement Advisory Services LLC grew its stake in Plains GP by 1.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company's stock valued at $720,000 after acquiring an additional 717 shares during the period. Inscription Capital LLC grew its stake in Plains GP by 4.2% in the third quarter. Inscription Capital LLC now owns 55,029 shares of the pipeline company's stock valued at $1,018,000 after acquiring an additional 2,201 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in Plains GP in the third quarter valued at about $200,000. Finally, Golden State Equity Partners boosted its position in shares of Plains GP by 21.6% during the third quarter. Golden State Equity Partners now owns 12,449 shares of the pipeline company's stock worth $230,000 after buying an additional 2,214 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

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.