Shares of Plains GP Holdings LP (NYSE:PAGP) saw unusually-strong trading volume on Friday . Approximately 59,578 shares were traded during trading, a decline of 96% from the previous session’s volume of 1,440,565 shares.The stock last traded at $23.61 and had previously closed at $23.88.
A number of research analysts recently weighed in on PAGP shares. Jefferies Financial Group upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Mizuho started coverage on shares of Plains GP in a research report on Wednesday, November 28th. They set a “buy” rating and a $30.00 price objective on the stock. ValuEngine upgraded shares of Plains GP from a “strong sell” rating to a “sell” rating in a research report on Friday, December 21st. Citigroup lowered their price objective on shares of Plains GP from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, November 29th. Finally, Morgan Stanley increased their price objective on shares of Plains GP from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.60.
The firm has a market cap of $3.75 billion, a P/E ratio of 11.16 and a beta of 1.26. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72.
Plains GP (NYSE:PAGP) last announced its earnings results on Tuesday, February 5th. The pipeline company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.61. Plains GP had a net margin of 0.98% and a return on equity of 2.69%. The business had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $10.52 billion. During the same period in the prior year, the company earned ($5.16) earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. Analysts predict that Plains GP Holdings LP will post 1.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Thursday, January 31st were paid a $0.30 dividend. The ex-dividend date was Wednesday, January 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.10%. Plains GP’s dividend payout ratio (DPR) is presently 56.87%.
In other news, Director Oscar K. Brown acquired 4,400 shares of Plains GP stock in a transaction dated Thursday, December 27th. The stock was purchased at an average cost of $19.54 per share, with a total value of $85,976.00. Following the completion of the purchase, the director now directly owns 11,000 shares in the company, valued at approximately $214,940. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 16.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PAGP. Sound Income Strategies LLC purchased a new stake in shares of Plains GP in the fourth quarter worth $37,000. Captrust Financial Advisors purchased a new stake in shares of Plains GP in the fourth quarter worth $53,000. Daiwa Securities Group Inc. increased its stake in shares of Plains GP by 550.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,200 shares of the pipeline company’s stock worth $105,000 after purchasing an additional 4,400 shares in the last quarter. Linscomb & Williams Inc. increased its stake in shares of Plains GP by 15.2% in the fourth quarter. Linscomb & Williams Inc. now owns 11,301 shares of the pipeline company’s stock worth $227,000 after purchasing an additional 1,490 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Plains GP in the third quarter worth $245,000. 85.99% of the stock is owned by hedge funds and other institutional investors.
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About Plains GP (NYSE:PAGP)
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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