Shares of Plains GP Holdings LP (NYSE:PAGP) have been assigned an average rating of “Buy” from the twenty research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $28.69.
PAGP has been the subject of several research analyst reports. Zacks Investment Research lowered Plains GP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. ValuEngine lowered Plains GP from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 7th. Evercore ISI initiated coverage on Plains GP in a research note on Tuesday, February 5th. They set a $24.00 price target for the company. Finally, TheStreet upgraded Plains GP from a “c” rating to a “b-” rating in a research note on Friday, April 5th.
Hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in shares of Plains GP in the fourth quarter valued at about $53,000. Squar Milner Financial Services LLC acquired a new stake in shares of Plains GP in the first quarter valued at about $85,000. Cresset Asset Management LLC acquired a new stake in shares of Plains GP in the first quarter valued at about $92,000. Daiwa Securities Group Inc. grew its stake in shares of Plains GP by 550.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,200 shares of the pipeline company’s stock valued at $105,000 after buying an additional 4,400 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Plains GP in the first quarter valued at about $145,000. Institutional investors and hedge funds own 84.65% of the company’s stock.
Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Tuesday, May 7th. The pipeline company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.49. The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $10.54 billion. Plains GP had a return on equity of 3.41% and a net margin of 1.31%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. Research analysts predict that Plains GP will post 1.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.82%. This is a positive change from Plains GP’s previous quarterly dividend of $0.30. Plains GP’s dividend payout ratio (DPR) is 68.25%.
Plains GP Company Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
Further Reading: How to Trade Using Analysts Ratings
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