Plains GP Holdings, L.P. to Issue Quarterly Dividend of $0.42 (NYSE:PAGP)

Plains GP Holdings, L.P. (NYSE:PAGP) declared a quarterly dividend on Monday, July 6th. Shareholders of record on Friday, July 31st will be given a dividend of 0.4175 per share by the pipeline company on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, July 31st.

Plains GP has increased its dividend payment by an average of 0.1%per year over the last three years. Plains GP has a payout ratio of 105.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Trading Up 0.7%

NYSE:PAGP opened at $26.27 on Wednesday. Plains GP has a 12 month low of $16.68 and a 12 month high of $26.65. The firm has a fifty day simple moving average of $24.77 and a 200-day simple moving average of $23.35. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $5.20 billion, a P/E ratio of 49.57 and a beta of 0.45.

Institutional Trading of Plains GP

Hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC purchased a new position in shares of Plains GP during the third quarter worth $46,000. North Star Investment Management Corp. purchased a new stake in Plains GP in the first quarter valued at $56,000. Lazard Asset Management LLC boosted its holdings in Plains GP by 36.5% in the second quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 811 shares during the last quarter. O Domhnaill Enterprises Inc. acquired a new stake in Plains GP during the 1st quarter worth about $66,000. Finally, Virtus Advisers LLC grew its position in Plains GP by 46.5% during the 4th 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 period. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.