Plains GP Holdings, L.P. (NYSE:PAGP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $19.88.

Several brokerages have recently weighed in on PAGP. Wolfe Research raised Plains GP to a “hold” rating in a report on Wednesday, September 18th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note on Friday, October 25th.

Hedge Funds Weigh In On Plains GP

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Plains GP by 6.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock valued at $219,572,000 after purchasing an additional 703,158 shares in the last quarter. Chickasaw Capital Management LLC raised its position in shares of Plains GP by 3.6% in the second quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company’s stock worth $124,496,000 after buying an additional 232,644 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Plains GP by 2.1% during the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock valued at $101,507,000 after purchasing an additional 113,098 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Plains GP by 1.2% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock worth $80,900,000 after purchasing an additional 53,000 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its stake in shares of Plains GP by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock valued at $34,294,000 after purchasing an additional 279,100 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Plains GP Trading Up 1.5 %

Shares of NYSE:PAGP opened at $18.51 on Tuesday. The stock’s 50-day moving average is $18.43 and its 200-day moving average is $18.57. The company has a market cap of $3.66 billion, a P/E ratio of 21.45 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP has a 52-week low of $14.93 and a 52-week high of $20.10.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP’s dividend payout ratio is presently 149.41%.

Plains GP Company Profile

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.