Plains GP Holdings, L.P. (NYSE:PAGP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Plains GP Holdings, L.P. (NYSE:PAGP) has earned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $20.1667.

A number of research analysts have recently issued reports on PAGP shares. JPMorgan Chase & Co. reduced their price target on shares of Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Barclays cut their target price on shares of Plains GP from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, October 7th. Zacks Research upgraded Plains GP from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Morgan Stanley increased their price target on Plains GP from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Finally, Raymond James Financial cut their price target on Plains GP from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Friday, October 24th.

Institutional Trading of Plains GP

A number of large investors have recently modified their holdings of PAGP. Royal Bank of Canada boosted its stake in Plains GP by 6.1% during the 1st quarter. Royal Bank of Canada now owns 468,314 shares of the pipeline company’s stock valued at $10,003,000 after purchasing an additional 26,952 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Plains GP by 1.9% during the first quarter. NewEdge Advisors LLC now owns 79,444 shares of the pipeline company’s stock valued at $1,697,000 after buying an additional 1,444 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Plains GP by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company’s stock worth $111,518,000 after buying an additional 29,911 shares during the period. Fiduciary Financial Group LLC grew its holdings in Plains GP by 16.6% in the 2nd quarter. Fiduciary Financial Group LLC now owns 11,726 shares of the pipeline company’s stock worth $224,000 after buying an additional 1,666 shares in the last quarter. Finally, Adams Asset Advisors LLC increased its position in Plains GP by 31.6% in the 2nd quarter. Adams Asset Advisors LLC now owns 20,909 shares of the pipeline company’s stock valued at $406,000 after acquiring an additional 5,023 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Stock Performance

Shares of PAGP opened at $20.17 on Friday. The stock has a market capitalization of $3.99 billion, a PE ratio of 38.06 and a beta of 0.56. The business’s fifty day moving average price is $18.73 and its 200 day moving average price is $18.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP has a 12-month low of $16.60 and a 12-month high of $22.31.

Plains GP Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Friday, January 30th. Plains GP’s payout ratio is 179.57%.

Plains GP Company Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.