Plains GP Holdings, L.P. (NYSE:PAGP) Plans Quarterly Dividend of $0.32

Plains GP Holdings, L.P. (NYSE:PAGP) declared a quarterly dividend on Wednesday, October 2nd, Wall Street Journal reports. Shareholders of record on Thursday, October 31st will be given a dividend of 0.3175 per share by the pipeline company on Thursday, November 14th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date is Thursday, October 31st.

Plains GP has a dividend payout ratio of 70.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Plains GP to earn $1.66 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 76.5%.

Plains GP Price Performance

Shares of PAGP opened at $17.72 on Tuesday. The business’s fifty day moving average is $18.69 and its 200 day moving average is $18.62. Plains GP has a 12-month low of $14.93 and a 12-month high of $20.10. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.50 billion, a P/E ratio of 21.35 and a beta of 1.53.

Plains GP (NYSE:PAGP) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11). The company had revenue of $12.93 billion for the quarter, compared to analysts’ expectations of $13.70 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.09%. During the same period in the previous year, the firm earned $0.25 EPS. Sell-side analysts anticipate that Plains GP will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PAGP. Wolfe Research upgraded Plains GP to a “hold” rating in a report on Wednesday, September 18th. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

About Plains GP

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.