Plains Group Holdings, L.P. (PAGP) Given Consensus Recommendation of “Hold” by Analysts

Plains Group Holdings, L.P. (PAGP) Given Consensus Recommendation of “Hold” by Analysts

Plains Group Holdings, L.P. (NYSE:PAGP) has been assigned a consensus recommendation of “Hold” from the twenty research firms that are currently covering the firm. Fifteen equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $16.22.

A number of brokerages have issued reports on PAGP. Credit Suisse Group reaffirmed a “neutral” rating and set a $37.00 price target (up from $34.00) on shares of Plains Group Holdings, L.P. in a research note on Sunday, December 4th. Stifel Nicolaus increased their price target on Plains Group Holdings, L.P. from $29.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, November 17th. Zacks Investment Research lowered Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a research note on Friday, December 16th. J P Morgan Chase & Co raised Plains Group Holdings, L.P. from a “neutral” rating to an “overweight” rating and increased their price target for the company from $29.50 to $37.00 in a research note on Friday, December 9th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $14.00 price target (up from $10.00) on shares of Plains Group Holdings, L.P. in a research note on Monday, October 10th.

Plains Group Holdings, L.P. (NYSE:PAGP) opened at 32.46 on Tuesday. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 24.41 and a beta of 1.51. The company has a 50-day moving average price of $33.97 and a 200 day moving average price of $22.31. Plains Group Holdings, L.P. has a 1-year low of $6.29 and a 1-year high of $36.09.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.78%. This is a positive change from Plains Group Holdings, L.P.’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, January 27th. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is currently 168.59%.

Hedge funds have recently made changes to their positions in the company. Seven Eight Capital LLC raised its position in Plains Group Holdings, L.P. by 0.5% in the second quarter. Seven Eight Capital LLC now owns 42,949 shares of the company’s stock valued at $448,000 after buying an additional 200 shares during the period. LVW Advisors LLC raised its position in Plains Group Holdings, L.P. by 0.5% in the second quarter. LVW Advisors LLC now owns 59,883 shares of the company’s stock valued at $625,000 after buying an additional 308 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in Plains Group Holdings, L.P. by 2.3% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,143 shares of the company’s stock valued at $221,000 after buying an additional 388 shares during the period. Chicago Partners Investment Group LLC raised its position in Plains Group Holdings, L.P. by 2.1% in the second quarter. Chicago Partners Investment Group LLC now owns 21,244 shares of the company’s stock valued at $222,000 after buying an additional 427 shares during the period. Finally, Milestone Group Inc. raised its position in Plains Group Holdings, L.P. by 4.3% in the third quarter. Milestone Group Inc. now owns 15,027 shares of the company’s stock valued at $194,000 after buying an additional 614 shares during the period.

Plains Group Holdings, L.P. 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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