Plains GP Holdings, L.P. (NYSE:PAGP) Declares $0.32 Quarterly Dividend

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Monday, October 7th, Wall Street Journal reports. Investors of record on Thursday, October 31st will be given a dividend of 0.3175 per share by the pipeline company on Thursday, November 14th. This represents a $1.27 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date is Thursday, October 31st.

Plains GP has a payout ratio of 73.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Plains GP to earn $1.63 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 77.9%.

Plains GP Trading Down 0.8 %

NYSE PAGP traded down $0.15 during trading on Monday, hitting $18.70. The company had a trading volume of 979,762 shares, compared to its average volume of 1,764,486. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. Plains GP has a one year low of $14.93 and a one year high of $20.10. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 21.25 and a beta of 1.53. The company’s fifty day moving average is $18.75 and its 200-day moving average is $18.64.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.11). The company had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same quarter last year, the company posted $0.25 earnings per share. On average, sell-side analysts predict that Plains GP will post 1.24 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on PAGP. Morgan Stanley increased their price target on shares of Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Wolfe Research raised shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.11.

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.