Plains GP Holdings, L.P. (PAGP) To Go Ex-Dividend on April 30th

Plains GP Holdings, L.P. (NYSE:PAGP) declared a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 annualized dividend and a dividend yield of 6.77%. The ex-dividend date of this dividend is Tuesday, April 30th.

Plains GP has increased its dividend by an average of 5.9% annually over the last three years and has raised its dividend every year for the last 3 years.

Plains GP Stock Down 0.8 %

Shares of NYSE PAGP opened at $18.76 on Friday. Plains GP has a 12 month low of $12.59 and a 12 month high of $19.77. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 18.39 and a beta of 1.55. The business has a 50-day moving average of $18.01 and a 200-day moving average of $16.73.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. Sell-side analysts expect that Plains GP will post 1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on PAGP shares. Barclays upped their target price on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Citigroup boosted their price objective on Plains GP from $16.50 to $17.50 and gave the company a “neutral” rating in a research report on Friday, March 1st. Scotiabank initiated coverage on Plains GP in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.55.

About Plains GP

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