Plains GP Holdings, L.P. (PAGP) to Issue Quarterly Dividend of $0.32 on May 15th

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Stockholders of record on Wednesday, May 1st will be given a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 annualized dividend and a dividend 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 raised its dividend annually for the last 3 consecutive years.

Plains GP Stock Performance

Plains GP stock opened at $18.76 on Friday. The firm has a 50 day simple moving average of $18.01 and a 200-day simple moving average of $16.73. Plains GP has a 1-year low of $12.59 and a 1-year high of $19.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 18.39 and a beta of 1.55.

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). Plains GP had a net margin of 0.41% and a return on equity of 1.33%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.88 billion. On average, analysts expect that Plains GP will post 1.05 EPS for the current year.

Analysts Set New Price Targets

PAGP has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Scotiabank initiated coverage on shares of Plains GP in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Barclays upped their price objective on shares of Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Finally, UBS Group upped their price objective on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.