Plains GP Holdings LP (NYSE:PAGP) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $17.55 and last traded at $17.59, with a volume of 2602494 shares traded. The stock had previously closed at $17.72.
Several research analysts recently issued reports on the stock. Scotiabank assumed coverage on shares of Plains GP in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 price target on the stock. ValuEngine downgraded shares of Plains GP from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Barclays set a $24.00 price target on shares of Plains GP and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Zacks Investment Research upgraded shares of Plains GP from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.43.
The stock has a market capitalization of $2.98 billion, a P/E ratio of 8.34 and a beta of 1.16. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $19.78 and a two-hundred day simple moving average of $22.60.
Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $8.15 billion. Plains GP had a return on equity of 3.30% and a net margin of 1.39%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 EPS. As a group, analysts forecast that Plains GP Holdings LP will post 2.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.44 annualized dividend and a yield of 8.19%. Plains GP’s dividend payout ratio is currently 68.25%.
Several hedge funds have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. increased its stake in shares of Plains GP by 5.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 163,926 shares of the pipeline company’s stock valued at $4,085,000 after acquiring an additional 8,694 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Plains GP by 88.3% in the 2nd quarter. DNB Asset Management AS now owns 135,643 shares of the pipeline company’s stock valued at $3,387,000 after acquiring an additional 63,600 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Plains GP in the 2nd quarter valued at about $749,000. NN Investment Partners Holdings N.V. increased its stake in shares of Plains GP by 69.8% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 245,000 shares of the pipeline company’s stock valued at $6,117,000 after acquiring an additional 100,707 shares during the last quarter. Finally, Chickasaw Capital Management LLC increased its stake in shares of Plains GP by 19.8% in the 2nd quarter. Chickasaw Capital Management LLC now owns 9,598,059 shares of the pipeline company’s stock valued at $239,664,000 after acquiring an additional 1,586,393 shares during the last quarter. 90.88% of the stock is owned by institutional investors.
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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