Plains GP Holdings, L.P. (NYSE:PAGP) Given Average Recommendation of “Hold” by Brokerages

Plains GP Holdings, L.P. (NYSE:PAGP) has received a consensus rating of “Hold” from the ten research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $20.11.

Several equities analysts have recently issued reports on PAGP shares. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Finally, Morgan Stanley upped their price objective on shares of Plains GP from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th.

Plains GP Price Performance

Shares of PAGP stock opened at $18.61 on Monday. Plains GP has a 1 year low of $14.71 and a 1 year high of $20.10. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $18.86 and its 200-day moving average is $18.58. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 21.07 and a beta of 1.53.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11). The firm had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.09%. During the same quarter in the prior year, the business earned $0.25 EPS. Sell-side analysts forecast that Plains GP will post 1.24 EPS for the current fiscal year.

Plains GP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date was Wednesday, July 31st. Plains GP’s dividend payout ratio is currently 144.32%.

Institutional Trading of Plains GP

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC raised its position in shares of Plains GP by 0.9% in the second 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 period. Northwestern Mutual Wealth Management Co. raised its holdings in Plains GP by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 755 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Plains GP by 22.0% during the second quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock worth $87,000 after acquiring an additional 833 shares during the period. Moors & Cabot Inc. grew its position in shares of Plains GP by 0.4% in the second quarter. Moors & Cabot Inc. now owns 259,495 shares of the pipeline company’s stock valued at $4,884,000 after purchasing an additional 959 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Plains GP by 61.0% during the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 1,147 shares during the period. 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.