Plains GP Holdings, L.P. (NYSE:PAGP) Receives Consensus Recommendation of “Hold” from Analysts

Plains GP Holdings, L.P. (NYSE:PAGP) has earned a consensus rating of “Hold” from the nine analysts that are covering the company, MarketBeat.com reports. Two 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 1 year target price among analysts that have issued ratings on the stock in the last year is $19.88.

Several analysts have weighed in on PAGP shares. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th.

Hedge Funds Weigh In On Plains GP

A number of large investors have recently made changes to their positions in PAGP. Tortoise Capital Advisors L.L.C. increased its holdings in Plains GP by 6.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock worth $219,572,000 after buying an additional 703,158 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Plains GP by 3.6% in the second quarter. Chickasaw Capital Management LLC now owns 6,615,106 shares of the pipeline company’s stock valued at $124,496,000 after acquiring an additional 232,644 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Plains GP by 2.1% in the second quarter. Westwood Holdings Group Inc. now owns 5,393,558 shares of the pipeline company’s stock valued at $101,507,000 after acquiring an additional 113,098 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Plains GP by 1.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after acquiring an additional 53,000 shares during the period. Finally, Hennessy Advisors Inc. boosted its position in shares of Plains GP by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,822,200 shares of the pipeline company’s stock valued at $34,294,000 after acquiring an additional 279,100 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Trading Up 0.3 %

PAGP opened at $18.32 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $18.50 and its 200-day moving average is $18.58. The firm has a market capitalization of $3.61 billion, a P/E ratio of 21.55 and a beta of 1.54. Plains GP has a 52-week low of $14.93 and a 52-week high of $20.10.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 6.93%. Plains GP’s payout ratio is presently 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.