Plains GP (NYSE:PAGP) Sets New 12-Month High - What's Next?

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $20.95 and last traded at $20.67, with a volume of 1867379 shares. The stock had previously closed at $20.64.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PAGP shares. Wells Fargo & Company cut Plains GP from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. 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 note on Friday, January 10th. Barclays lifted their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday. Morgan Stanley cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.22.

Plains GP Trading Up 4.0 %

The business has a fifty day moving average of $18.97 and a 200-day moving average of $18.85. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $4.24 billion, a P/E ratio of 25.28 and a beta of 1.58.

Plains GP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.38 per share. This is a boost from Plains GP's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend is Friday, January 31st. Plains GP's dividend payout ratio (DPR) is currently 149.41%.

Institutional Investors Weigh In On Plains GP

Institutional investors and hedge funds have recently made changes to their positions in the business. Hara Capital LLC purchased a new stake in shares of Plains GP in the third quarter worth approximately $57,000. Eastern Bank bought a new stake in Plains GP during the third quarter worth $76,000. Continuum Advisory LLC raised its position in Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock valued at $127,000 after buying an additional 637 shares during the last quarter. Insigneo Advisory Services LLC bought a new position in Plains GP during the 3rd quarter valued at $188,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in Plains GP during the 3rd quarter worth $200,000. Institutional investors and hedge funds own 88.30% of the company's stock.

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.