Plains GP Holdings LP (NYSE:PAGP) Plans Quarterly Dividend of $0.30

Plains GP Holdings LP (NYSE:PAGP) announced a quarterly dividend on Tuesday, January 9th, Wall Street Journal reports. Investors of record on Wednesday, January 31st will be given a dividend of 0.30 per share by the pipeline company on Wednesday, February 14th. This represents a $1.20 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date is Tuesday, January 30th.

Plains GP has increased its dividend by an average of 3.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Plains GP has a dividend payout ratio of 137.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Plains GP to earn $1.66 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 72.3%.

Plains GP (NYSE PAGP) opened at $21.28 on Thursday. The company has a market cap of $3,318.29, a P/E ratio of 47.62 and a beta of 1.48. Plains GP has a 1 year low of $18.98 and a 1 year high of $34.63. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.78 and a current ratio of 1.00.

Plains GP (NYSE:PAGP) last announced its earnings results on Monday, November 6th. The pipeline company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.20). The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.71 billion. Plains GP had a net margin of 0.25% and a return on equity of 0.50%. Plains GP’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. research analysts anticipate that Plains GP will post 0.87 EPS for the current year.

PAGP has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Plains GP from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, October 24th. Mizuho reiterated a “buy” rating and set a $27.00 price objective on shares of Plains GP in a research note on Friday, October 20th. Barclays reiterated a “buy” rating and set a $26.00 price objective on shares of Plains GP in a research note on Thursday, October 19th. BMO Capital Markets set a $25.00 price objective on shares of Plains GP and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Finally, ValuEngine upgraded shares of Plains GP from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $25.71.

A hedge fund recently bought a new stake in Plains GP stock. California State Teachers Retirement System bought a new stake in Plains GP Holdings LP (NYSE:PAGP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,497 shares of the pipeline company’s stock, valued at approximately $327,000. 83.02% of the stock is owned by institutional investors and hedge funds.

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About Plains GP

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Dividend History for Plains GP (NYSE:PAGP)

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