Analysts Set Plains GP Holdings, L.P. (NYSE:PAGP) PT at $19.88

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $19.88.

A number of brokerages have weighed in on PAGP. Morgan Stanley cut 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 report on Friday, October 25th. Wolfe Research upgraded Plains GP to a “hold” rating in a report on Wednesday, September 18th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Friday, November 8th.

Plains GP Stock Up 1.4 %

PAGP stock opened at $18.21 on Tuesday. The firm has a market cap of $3.60 billion, a PE ratio of 21.42 and a beta of 1.54. Plains GP has a 1 year low of $14.93 and a 1 year high of $20.10. The company has a fifty day simple moving average of $18.45 and a 200 day simple moving average of $18.56. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 6.97%. The ex-dividend date was Thursday, October 31st. Plains GP’s dividend payout ratio is currently 149.41%.

Hedge Funds Weigh In On Plains GP

Several large investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its position in Plains GP by 4.0% during the third quarter. Captrust Financial Advisors now owns 57,596 shares of the pipeline company’s stock worth $1,066,000 after buying an additional 2,241 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new stake in shares of Plains GP in the 3rd quarter worth approximately $202,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of Plains GP by 15.6% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 82,744 shares of the pipeline company’s stock worth $1,530,000 after purchasing an additional 11,175 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Plains GP during the third quarter valued at approximately $4,013,000. Finally, Townsquare Capital LLC raised its stake in shares of Plains GP by 1.2% in the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after purchasing an additional 729 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

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.