Plains GP Holdings, L.P. (PAGP) to Issue Quarterly Dividend of $0.42 on May 15th

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Monday, April 6th. Shareholders of record on Friday, May 1st will be given a dividend of 0.4175 per share by the pipeline company on Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Friday, May 1st.

Plains GP has raised its dividend by an average of 0.1%annually over the last three years. Plains GP has a payout ratio of 105.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Plains GP to earn $1.87 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 89.3%.

Plains GP Stock Down 2.8%

NYSE:PAGP traded down $0.67 during trading hours on Wednesday, reaching $23.49. The company had a trading volume of 4,027,481 shares, compared to its average volume of 2,059,015. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 44.32 and a beta of 0.50. The business’s 50-day simple moving average is $22.65 and its two-hundred day simple moving average is $19.95. Plains GP has a twelve month low of $16.60 and a twelve month high of $24.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its holdings in Plains GP by 56.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 645 shares during the last quarter. Larson Financial Group LLC purchased a new position in Plains GP during the third quarter worth about $46,000. Lazard Asset Management LLC boosted its holdings in Plains GP by 36.5% during the second quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 811 shares during the last quarter. Asset Dedication LLC purchased a new position in Plains GP during the second quarter worth about $83,000. Finally, Virtus Advisers LLC boosted its holdings in Plains GP by 46.5% during the fourth quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock worth $112,000 after purchasing an additional 1,859 shares during the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

About Plains GP

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.