Plains GP Holdings LP (NYSE:PAGP) has received a consensus rating of “Hold” from the twenty-two brokerages that are presently covering the company. Eighteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $13.23.
PAGP has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Plains GP Holdings from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday. Zacks Investment Research cut Plains GP Holdings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 9th. Credit Suisse Group AG reissued a “hold” rating and set a $13.00 price objective on shares of Plains GP Holdings in a report on Monday, November 7th. Scotiabank reissued a “sector perform” rating and set a $14.00 price objective (up from $10.00) on shares of Plains GP Holdings in a report on Monday, October 10th. Finally, Howard Weil boosted their price objective on Plains GP Holdings from $10.00 to $14.00 and gave the stock a “sector perform” rating in a report on Monday, October 10th.
Large investors have recently made changes to their positions in the company. Loomis Sayles & Co. L P bought a new stake in shares of Plains GP Holdings during the first quarter worth about $107,000. Paragon Capital Management Ltd bought a new stake in shares of Plains GP Holdings during the second quarter worth about $107,000. Capital Fund Management S.A. bought a new stake in shares of Plains GP Holdings during the second quarter worth about $116,000. Oppenheimer & Co. Inc. bought a new stake in shares of Plains GP Holdings during the second quarter worth about $117,000. Finally, BB&T Securities LLC bought a new stake in shares of Plains GP Holdings during the third quarter worth about $132,000. Institutional investors own 77.21% of the company’s stock.
Plains GP Holdings (NYSE:PAGP) opened at 33.62 on Thursday. The firm has a market capitalization of $9.01 billion, a PE ratio of 67.24 and a beta of 1.51. The firm has a 50 day moving average of $12.85 and a 200 day moving average of $11.21. Plains GP Holdings has a one year low of $4.72 and a one year high of $33.80.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were paid a dividend of $0.2065 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Thursday, October 27th. Plains GP Holdings’s dividend payout ratio is currently 168.59%.
About Plains GP Holdings
Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products.