Plains GP Holdings, L.P. (NYSE:PAGP) Receives $14.65 Consensus Price Target from Brokerages

Plains GP Holdings, L.P. (NYSE:PAGPGet Rating) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $14.59.

A number of brokerages have recently issued reports on PAGP. Wolfe Research downgraded Plains GP from an “outperform” rating to a “market perform” rating in a research report on Monday, August 1st. Morgan Stanley raised their price objective on Plains GP from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, October 20th. StockNews.com started coverage on Plains GP in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Stifel Nicolaus raised Plains GP from a “hold” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a report on Sunday, August 14th. Finally, JPMorgan Chase & Co. cut Plains GP from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $14.00 in a report on Monday.

Hedge Funds Weigh In On Plains GP

Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. increased its stake in Plains GP by 60.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 1,300 shares during the period. Cambridge Trust Co. purchased a new position in shares of Plains GP during the first quarter valued at approximately $47,000. Spirit of America Management Corp NY purchased a new position in shares of Plains GP during the second quarter valued at approximately $62,000. Atlas Capital Advisors LLC increased its stake in shares of Plains GP by 407.9% during the second quarter. Atlas Capital Advisors LLC now owns 7,619 shares of the pipeline company’s stock valued at $79,000 after buying an additional 6,119 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Plains GP by 1,011.5% during the third quarter. Tower Research Capital LLC TRC now owns 8,670 shares of the pipeline company’s stock valued at $94,000 after buying an additional 7,890 shares during the period. 82.51% of the stock is owned by hedge funds and other institutional investors.

Plains GP Stock Performance

Shares of PAGP opened at $12.86 on Friday. The company has a market cap of $2.50 billion, a PE ratio of 12.13 and a beta of 1.63. The company has a current ratio of 1.05, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $12.24 and a 200-day moving average price of $11.68. Plains GP has a 12-month low of $9.24 and a 12-month high of $13.38.

Plains GP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were paid a $0.2175 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.87 dividend on an annualized basis and a yield of 6.77%. Plains GP’s dividend payout ratio (DPR) is currently 82.08%.

Plains GP Company Profile

(Get Rating)

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.

See Also

Analyst Recommendations for Plains GP (NYSE:PAGP)

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