A number of other equities analysts have also commented on the stock. Evercore ISI lowered shares of Plains GP Holdings from a buy rating to a hold rating and lifted their price target for the stock from $9.00 to $10.00 in a report on Thursday, July 7th. Zacks Investment Research lowered shares of Plains GP Holdings from a buy rating to a hold rating in a report on Wednesday, August 17th. Citigroup Inc. reiterated a buy rating and set a $12.50 price target (up previously from $12.00) on shares of Plains GP Holdings in a report on Tuesday, August 16th. Barclays PLC lowered shares of Plains GP Holdings from an overweight rating to an equal weight rating and lifted their price target for the stock from $8.00 to $11.00 in a report on Friday, July 8th. Finally, Wunderlich lifted their price target on shares of Plains GP Holdings from $10.00 to $11.00 and gave the stock a hold rating in a report on Wednesday, August 31st. Nineteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $11.67.
Shares of Plains GP Holdings (NYSE:PAGP) traded down 2.37% during mid-day trading on Wednesday, hitting $13.18. 558,940 shares of the company’s stock traded hands. The firm has a 50-day moving average of $11.90 and a 200 day moving average of $10.43. The company has a market cap of $3.52 billion, a PE ratio of 23.71 and a beta of 1.55. Plains GP Holdings has a 52 week low of $4.72 and a 52 week high of $19.43.
Plains GP Holdings (NYSE:PAGP) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.76 billion. Plains GP Holdings had a return on equity of 1.36% and a net margin of 0.69%. Plains GP Holdings’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Equities research analysts predict that Plains GP Holdings will post $0.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be given a dividend of $0.2065 per share. This represents a $0.83 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend is Thursday, October 27th. Plains GP Holdings’s payout ratio is presently 170.37%.
Several large investors have recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new stake in Plains GP Holdings during the second quarter valued at approximately $795,000. Harbour Capital Advisors LLC acquired a new stake in Plains GP Holdings during the second quarter valued at approximately $440,000. Harvest Fund Advisors LLC increased its stake in Plains GP Holdings by 69.6% in the second quarter. Harvest Fund Advisors LLC now owns 9,675,198 shares of the company’s stock valued at $100,912,000 after buying an additional 3,970,603 shares during the last quarter. Stifel Financial Corp increased its stake in Plains GP Holdings by 4.7% in the second quarter. Stifel Financial Corp now owns 288,838 shares of the company’s stock valued at $3,013,000 after buying an additional 12,968 shares during the last quarter. Finally, Cypress Wealth Advisors LLC increased its stake in Plains GP Holdings by 6.8% in the second quarter. Cypress Wealth Advisors LLC now owns 109,325 shares of the company’s stock valued at $1,140,000 after buying an additional 6,925 shares during the last quarter. 76.78% of the stock is owned by institutional investors.
Plains GP Holdings Company Profile
Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products.
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