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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) have been given an average rating of "Hold" by the nine analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.88.

A number of equities analysts have weighed in on the company. Morgan Stanley downgraded Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Wolfe Research raised Plains GP to a "hold" rating in a report on Wednesday, September 18th. Finally, StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a report on Friday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers increased its position in shares of Plains GP by 644.7% during the 1st quarter. Cetera Investment Advisers now owns 154,961 shares of the pipeline company's stock valued at $2,828,000 after purchasing an additional 134,153 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Plains GP in the first quarter worth $1,669,000. Bahl & Gaynor Inc. grew its holdings in Plains GP by 82.7% during the first quarter. Bahl & Gaynor Inc. now owns 921,467 shares of the pipeline company's stock valued at $16,817,000 after purchasing an additional 417,031 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Plains GP in the second quarter valued at about $566,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Plains GP by 1.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company's stock worth $80,900,000 after buying an additional 53,000 shares in the last quarter. Institutional investors own 88.30% of the company's stock.

Plains GP Stock Down 2.2 %

Shares of PAGP traded down $0.41 on Tuesday, hitting $17.91. The company's stock had a trading volume of 769,120 shares, compared to its average volume of 1,755,849. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The firm's fifty day moving average price is $18.48 and its 200-day moving average price is $18.57. Plains GP has a fifty-two week low of $14.93 and a fifty-two week high of $20.10. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 21.55 and a beta of 1.54.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.09%. Plains GP's payout ratio is 149.41%.

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.