Plains GP Holdings, L.P. (NYSE:PAGP) Declares Dividend Increase – $0.38 Per Share

Plains GP Holdings, L.P. (NYSE:PAGP) announced a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.38 per share by the pipeline company on Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date is Friday, January 31st. This is an increase from Plains GP’s previous quarterly dividend of $0.32.

Plains GP Price Performance

PAGP stock traded up $1.12 during mid-day trading on Wednesday, reaching $19.90. The company’s stock had a trading volume of 2,662,089 shares, compared to its average volume of 1,629,193. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $18.67 and its two-hundred day moving average is $18.78. Plains GP has a fifty-two week low of $15.78 and a fifty-two week high of $20.10. The stock has a market cap of $3.93 billion, a PE ratio of 23.41 and a beta of 1.58.

Analysts Set New Price Targets

PAGP has been the subject of several research reports. Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Wolfe Research raised shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.88.

Plains GP Company Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.