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

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Shareholders 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 7.63%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Plains GP’s previous quarterly dividend of $0.32.

Plains GP Trading Up 6.1 %

NYSE:PAGP opened at $19.93 on Thursday. The business’s 50-day simple moving average is $18.71 and its 200-day simple moving average is $18.79. The stock has a market capitalization of $3.94 billion, a PE ratio of 23.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Plains GP has a fifty-two week low of $15.78 and a fifty-two week high of $20.10.

Analysts Set New Price Targets

Several research firms have recently weighed in on PAGP. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wolfe Research upgraded Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $19.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.