Plains GP Holdings, L.P. (NYSE:PAGP) Announces Quarterly Dividend of $0.38

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Wednesday, January 8th,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 annualized dividend and a dividend yield of 7.64%. The ex-dividend date is Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32.

Plains GP Trading Up 6.0 %

Plains GP stock traded up $1.12 during trading hours on Wednesday, reaching $19.90. 2,662,089 shares of the company’s stock traded hands, compared to its average volume of 1,629,193. The firm’s 50 day moving average is $18.67 and its 200-day moving average is $18.78. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 23.41 and a beta of 1.58. Plains GP has a fifty-two week low of $15.78 and a fifty-two week high of $20.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PAGP. Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. StockNews.com raised 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.88.

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.