Plains GP Holdings, L.P. (PAGP) To Go Ex-Dividend on January 31st

Plains GP Holdings, L.P. (NYSE:PAGP) declared a quarterly dividend on Tuesday, January 7th,Wall Street Journal reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.38 per share by the pipeline company on Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32.

Plains GP Stock Up 1.3 %

PAGP stock opened at $21.74 on Wednesday. Plains GP has a 52 week low of $15.78 and a 52 week high of $22.31. 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 cap of $4.29 billion, a P/E ratio of 25.58 and a beta of 1.58. The company’s 50-day moving average price is $19.51 and its 200 day moving average price is $18.97.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). Plains GP had a net margin of 0.33% and a return on equity of 1.12%. The firm had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.17 billion. During the same quarter in the prior year, the business earned $0.15 EPS. On average, research analysts expect that Plains GP will post 0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Raymond James lifted their price target on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.60.

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.