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

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Shareholders of record on Wednesday, May 1st will be paid a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date is Tuesday, April 30th.

Plains GP has raised its dividend by an average of 5.9% per year over the last three years and has increased its dividend annually for the last 3 consecutive years.

Plains GP Trading Down 0.8 %

Shares of NYSE PAGP opened at $18.76 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $18.01 and a two-hundred day simple moving average of $16.73. The firm has a market cap of $3.70 billion, a PE ratio of 18.39 and a beta of 1.55. Plains GP has a twelve month low of $12.59 and a twelve month high of $19.77.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.88 billion. Plains GP had a net margin of 0.41% and a return on equity of 1.33%. Analysts expect that Plains GP will post 1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PAGP. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Stifel Nicolaus upped their target price on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Barclays upped their target price on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. UBS Group upped their target price on Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Citigroup upped their target price on Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plains GP presently has an average rating of “Moderate Buy” and a consensus price target of $19.55.

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.