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