Plains GP (NYSE:PAGP) Reaches New 1-Year Low - Here's What Happened

Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.02 and last traded at $17.25, with a volume of 3438099 shares traded. The stock had previously closed at $17.72.

Wall Street Analyst Weigh In

Several research firms have weighed in on PAGP. Barclays dropped their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday. StockNews.com cut Plains GP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Raymond James raised their price target on Plains GP from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th. Morgan Stanley lifted their price target on Plains GP from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company downgraded Plains GP from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $21.00.

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Plains GP Trading Up 1.7 %

The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 34.27 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $20.66 and a two-hundred day moving average of $19.68.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.37%. The ex-dividend date is Thursday, May 1st. Plains GP's dividend payout ratio is currently 286.79%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after buying an additional 520 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Plains GP during the 4th quarter valued at $33,000. Allworth Financial LP bought a new stake in Plains GP in the 4th quarter valued at $44,000. Farther Finance Advisors LLC increased its holdings in shares of Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock worth $44,000 after purchasing an additional 2,355 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in shares of Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock worth $81,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 88.30% of the company's stock.

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.