Plains GP Holdings LP (NYSE:PAGP) has been given a consensus rating of “Buy” by the nineteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.57.
A number of brokerages have issued reports on PAGP. ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Wolfe Research cut shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target on the stock. in a report on Thursday, June 13th. Finally, TheStreet cut shares of Trade Desk from a “b-” rating to a “c-” rating in a report on Thursday, May 9th.
In related news, Director Everardo Goyanes sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $24.60, for a total value of $492,000.00. Following the completion of the transaction, the director now directly owns 32,305 shares in the company, valued at $794,703. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Emg Investment, Llc sold 7,328,291 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total transaction of $169,283,522.10. The disclosure for this sale can be found here. Corporate insiders own 16.31% of the company’s stock.
A number of large investors have recently made changes to their positions in PAGP. Captrust Financial Advisors purchased a new position in Plains GP in the fourth quarter worth $53,000. Squar Milner Financial Services LLC purchased a new position in Plains GP in the first quarter worth $85,000. O Shaughnessy Asset Management LLC purchased a new position in Plains GP in the first quarter worth $145,000. Permanens Capital L.P. purchased a new position in Plains GP in the first quarter worth $187,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Plains GP in the first quarter worth $203,000. Institutional investors own 88.24% of the company’s stock.
PAGP stock traded down $0.26 during midday trading on Friday, reaching $25.07. 920,700 shares of the company’s stock traded hands, compared to its average volume of 1,471,067. The firm has a 50-day moving average price of $24.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.02 and a quick ratio of 0.90. Plains GP has a 52 week low of $19.17 and a 52 week high of $27.00. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 11.88 and a beta of 1.16.
Plains GP (NYSE:PAGP) last issued its earnings results on Tuesday, May 7th. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.49. Plains GP had a net margin of 1.31% and a return on equity of 3.41%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $10.54 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that Plains GP will post 2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a $0.36 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $1.44 annualized dividend and a dividend yield of 5.74%. Plains GP’s payout ratio is currently 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.
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