Shares of Plains GP Holdings, L.P. (NYSE:PAGP – Get Rating) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.59.
Several brokerages have recently weighed in on PAGP. Barclays increased their price target on Plains GP from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 16th. Mizuho raised their price objective on Plains GP from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Stifel Nicolaus upgraded Plains GP from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a report on Sunday, August 14th. StockNews.com assumed coverage on Plains GP in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, UBS Group increased their target price on Plains GP from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 4th.
Institutional Trading of Plains GP
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in Plains GP by 60.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after acquiring an additional 1,300 shares during the period. Cambridge Trust Co. acquired a new stake in Plains GP during the 1st quarter worth about $47,000. Spirit of America Management Corp NY acquired a new stake in Plains GP during the 2nd quarter worth about $62,000. Atlas Capital Advisors LLC lifted its position in Plains GP by 407.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 7,619 shares of the pipeline company’s stock worth $79,000 after acquiring an additional 6,119 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Plains GP by 1,011.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,670 shares of the pipeline company’s stock worth $94,000 after acquiring an additional 7,890 shares during the period. Institutional investors and hedge funds own 82.51% of the company’s stock.
Plains GP Price Performance
Plains GP Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were given a $0.2175 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 6.77%. Plains GP’s payout ratio is 82.08%.
About Plains GP
Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.
- Get a free copy of the StockNews.com research report on Plains GP (PAGP)
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