The Plains GP Holdings LP (PAGP) Earns “Sector Perform” Rating from Scotiabank

The Plains GP Holdings LP (PAGP) Earns “Sector Perform” Rating from Scotiabank

Scotiabank reiterated their sector perform rating on shares of Plains GP Holdings LP (NYSE:PAGP) in a research note released on Monday. The brokerage currently has a $14.00 price objective on the stock, up from their prior price objective of $10.00.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Plains GP Holdings from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Thursday, July 14th. Citigroup Inc. restated a buy rating and issued a $12.50 price target (up previously from $12.00) on shares of Plains GP Holdings in a research note on Tuesday, August 16th. Deutsche Bank AG upgraded Plains GP Holdings from a hold rating to a buy rating and boosted their price target for the stock from $13.00 to $15.00 in a research note on Monday. Barclays PLC cut Plains GP Holdings from an overweight rating to an equal weight rating and boosted their price target for the stock from $8.00 to $11.00 in a research note on Friday, July 8th. Finally, Morgan Stanley boosted their price target on Plains GP Holdings from $12.50 to $14.00 and gave the stock an equal weight rating in a research note on Tuesday, October 4th. Eighteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $12.06.

Shares of Plains GP Holdings (NYSE:PAGP) opened at 13.47 on Monday. The company has a 50-day moving average price of $12.15 and a 200-day moving average price of $10.59. Plains GP Holdings has a 52-week low of $4.72 and a 52-week high of $19.11. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 24.23 and a beta of 1.55.

Plains GP Holdings (NYSE:PAGP) last released its earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Plains GP Holdings had a return on equity of 1.36% and a net margin of 0.69%. The company earned $4.95 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period last year, the firm posted $0.27 earnings per share. The company’s revenue was down 25.7% compared to the same quarter last year. On average, equities analysts anticipate that Plains GP Holdings will post $0.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be paid a $0.2065 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date is Thursday, October 27th. Plains GP Holdings’s dividend payout ratio (DPR) is 170.37%.

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Plains GP Holdings by 78.4% in the first quarter. JPMorgan Chase & Co. now owns 2,322,935 shares of the company’s stock worth $20,188,000 after buying an additional 1,020,496 shares during the last quarter. LVW Advisors LLC raised its position in shares of Plains GP Holdings by 381.4% in the first quarter. LVW Advisors LLC now owns 59,575 shares of the company’s stock worth $518,000 after buying an additional 47,200 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Plains GP Holdings during the first quarter worth approximately $272,000. Cypress Wealth Advisors LLC raised its position in shares of Plains GP Holdings by 582.7% in the first quarter. Cypress Wealth Advisors LLC now owns 102,400 shares of the company’s stock worth $890,000 after buying an additional 87,400 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Plains GP Holdings by 19.8% in the first quarter. UBS Group AG now owns 640,266 shares of the company’s stock worth $5,564,000 after buying an additional 105,801 shares during the last quarter. 76.78% of the stock is owned by hedge funds and other institutional investors.

Plains GP Holdings Company Profile

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