Plains GP Holdings LP (NASDAQ:PAGP) shares traded -2.68% lower at $14.89 on Wall Street last session.
In accordance with the data, 13 analysts cover Plains GP Holdings LP (NASDAQ:PAGP). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $21.00 and a low of $14.50, we find $17.00. Given the previous closing price of $15.30, this indicates a potential upside of 11.11 percent. PAGP stock price is now -6.13% away from the 50-day moving average and 5.38% away from the 200-day moving average. The market capitalization of the company currently stands at $2.92B.
It has been rated a hold by 4 analysts and a buy by 7. Brokers who have rated the stock have averaged $17.23 as their price target over the next twelve months.
With the price target maintained at $15, Barclays recently Downgraded its rating from Equal Weight to Underweight for Plains GP Holdings LP (NASDAQ: PAGP).
In other news, Chiang Willie CW, Chairman & CEO bought 62,000 shares of the company’s stock on Sep 28. The stock was bought for $1,006,694 at an average price of $16.24. Upon completion of the transaction, the Chairman & CEO now directly owns 318,704 shares in the company, valued at $4.75 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 08, Chairman & CEO Chiang Willie CW bought 75,000 shares of the business’s stock. A total of $993,525 was incurred on buying the stock at an average price of $13.25. This leaves the insider owning 256,704 shares of the company worth $3.82 million. A total of 2.71% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PAGP stock. A new stake in Plains GP Holdings LP shares was purchased by WESTWOOD HOLDINGS GROUP INC during the first quarter worth $64,444,000. AVENTAIL CAPITAL GROUP, LP invested $54,781,000 in shares of PAGP during the first quarter. In the first quarter, BARROW HANLEY MEWHINNEY & STRAUSS LLC acquired a new stake in Plains GP Holdings LP valued at approximately $25,688,000. AMUNDI acquired a new stake in PAGP for approximately $3,736,000. CAPTRUST FINANCIAL ADVISORS purchased a new stake in PAGP valued at around $2,304,000 in the second quarter. In total, there are 309 active investors with 85.43% ownership of the company’s stock.
Plains GP Holdings LP (NASDAQ: PAGP) opened at $15.24 on Wednesday. During the past 12 months, Plains GP Holdings LP has had a low of $11.25 and a high of $16.70. As of last week, the company has a debt-to-equity ratio of 5.29, a current ratio of 1.00, and a quick ratio of 0.92. The fifty day moving average price for PAGP is $15.85 and a two-hundred day moving average price translates $14.14 for the stock.
The latest earnings results from Plains GP Holdings LP (NASDAQ: PAGP) was released for Jun, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.25, beating analysts’ expectations of $0.19 by 0.06. This compares to $1.23 EPS in the same period last year. The net profit margin was 0.46% and return on equity was 15.04% for PAGP. The company reported revenue of $11.6 billion for the quarter, compared to $16.36 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -29.08 percent. For the current quarter, analysts expect PAGP to generate $12.48B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/14/2023. Investors who held shares on 07/31/2023 were paid a $0.2675 dividend. On an annualized basis, this represents a $1.07 dividend and a 7.19% percent yield. There was an ex-dividend date of 07/28/2023 for this dividend. In terms of dividend payout ratio, PAGP is presently at 96.13%.
Plains GP Holdings LP(PAGP) Company Profile
Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks. It engages in the provision of storage, terminalling, and throughput services primarily for crude oil, NGLs, and natural gas; NGL fractionation and isomerization services; and natural gas and condensate processing services. The company offers logistics services to producers, refiners, and other customers. PAA GP Holdings LLC operates as a general partner of the company. Plains GP Holdings, L.P. was incorporated in 2013 and is headquartered in Houston, Texas.
