Plains GP Holdings, L.P. (NYSE:PAGP) Given Average Recommendation of “Hold” by Analysts

Plains GP Holdings, L.P. (NYSE:PAGP) has earned an average rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $19.88.

A number of brokerages have recently commented on PAGP. Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PAGP. Thompson Siegel & Walmsley LLC purchased a new stake in Plains GP during the 3rd quarter valued at $13,848,000. Tortoise Capital Advisors L.L.C. increased its position in Plains GP by 6.4% during 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 acquiring an additional 703,158 shares during the last quarter. Acadian Asset Management LLC bought a new position in Plains GP in the second quarter valued at about $11,442,000. Yaupon Capital Management LP bought a new stake in shares of Plains GP during the 3rd quarter valued at about $9,772,000. Finally, SIR Capital Management L.P. purchased a new stake in shares of Plains GP during the 2nd quarter valued at about $8,849,000. 88.30% of the stock is owned by institutional investors.

Plains GP Stock Performance

Plains GP stock opened at $19.58 on Friday. Plains GP has a fifty-two week low of $14.93 and a fifty-two week high of $20.10. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 23.04 and a beta of 1.57. The stock’s 50 day simple moving average is $18.59 and its two-hundred day simple moving average is $18.66. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date was Thursday, October 31st. Plains GP’s payout ratio is 149.41%.

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.