Plains GP (NYSE:PAGP) Shares Up 5.2% - Still a Buy?

Shares of Plains GP Holdings, L.P. (NYSE:PAGP - Get Free Report) traded up 5.2% during trading on Wednesday . The stock traded as high as $19.80 and last traded at $19.75. 262,299 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,155,670 shares. The stock had previously closed at $18.78.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PAGP shares. 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. StockNews.com upgraded Plains GP from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Morgan Stanley downgraded Plains GP from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wolfe Research raised Plains GP to a "hold" rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.88.

Plains GP Price Performance

The firm has a market capitalization of $3.94 billion, a PE ratio of 23.45 and a beta of 1.58. 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 stock has a fifty day moving average price of $18.67 and a 200-day moving average price of $18.78.

Plains GP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 7.63%. The ex-dividend date of this dividend 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%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Hara Capital LLC acquired a new stake in Plains GP in the third quarter valued at approximately $57,000. Eastern Bank purchased a new stake in shares of Plains GP during the 3rd quarter valued at $76,000. Continuum Advisory LLC boosted its position in shares of Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company's stock worth $127,000 after purchasing an additional 637 shares in the last quarter. Insigneo Advisory Services LLC purchased a new position in Plains GP during the 3rd quarter worth $188,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Plains GP during the 3rd quarter valued at about $200,000. Institutional investors 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.