Plains GP (NYSE:PAGP) Hits New 12-Month High - Should You Buy?

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.16 and last traded at $21.95, with a volume of 2456208 shares traded. The stock had previously closed at $21.43.

Analysts Set New Price Targets

PAGP has been the subject of several research analyst reports. Morgan Stanley lowered 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 research note on Friday, October 25th. StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Barclays raised their target price on shares of Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Wolfe Research raised shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.22.

Plains GP Price Performance

The stock has a market capitalization of $4.31 billion, a PE ratio of 25.71 and a beta of 1.58. 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 firm's 50 day simple moving average is $19.23 and its 200 day simple moving average is $18.91.

Plains GP (NYSE:PAGP - Get Free Report) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.21). Plains GP had a return on equity of 1.12% and a net margin of 0.33%. The business had revenue of $12.74 billion during the quarter, compared to analysts' expectations of $13.17 billion. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, equities analysts forecast that Plains GP Holdings, L.P. will post 0.83 EPS for the current fiscal year.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date is Friday, January 31st. This is a positive change from Plains GP's previous quarterly dividend of $0.32. Plains GP's payout ratio is 149.41%.

Hedge Funds Weigh In On Plains GP

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Continuum Advisory LLC raised its stake in shares of Plains GP by 10.0% during the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock valued at $127,000 after acquiring an additional 637 shares during the last quarter. SL Advisors LLC increased its holdings in Plains GP by 3.3% during the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company's stock valued at $394,000 after purchasing an additional 679 shares during the period. NewEdge Advisors LLC raised its position in Plains GP by 0.9% during the 2nd quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company's stock valued at $1,407,000 after purchasing an additional 681 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Plains GP by 1.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company's stock worth $720,000 after buying an additional 717 shares during the period. Finally, Townsquare Capital LLC grew its position in shares of Plains GP by 1.2% in the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company's stock worth $1,110,000 after buying an additional 729 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

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.