Plains GP Holdings, L.P. (NYSE:PAGP) to Issue Quarterly Dividend of $0.42

Plains GP Holdings, L.P. (NYSE:PAGP) declared a quarterly dividend on Monday, April 6th. Stockholders of record on Friday, May 1st will be given a dividend of 0.4175 per share by the pipeline company on Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, May 1st.

Plains GP has increased its dividend payment by an average of 0.1%per year over the last three years. Plains GP has a dividend payout ratio of 105.0% 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 $1.87 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 89.3%.

Plains GP Stock Down 2.8%

Shares of PAGP stock traded down $0.67 on Wednesday, hitting $23.49. 4,027,481 shares of the stock were exchanged, compared to its average volume of 2,059,015. 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 firm has a market capitalization of $4.65 billion, a P/E ratio of 44.32 and a beta of 0.50. The business has a 50-day moving average of $22.65 and a 200 day moving average of $19.95. Plains GP has a fifty-two week low of $16.60 and a fifty-two week high of $24.75.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. boosted its position in Plains GP by 56.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 645 shares during the last quarter. Larson Financial Group LLC acquired a new position in Plains GP during the third quarter valued at approximately $46,000. Lazard Asset Management LLC boosted its position in Plains GP by 36.5% during the second quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 811 shares during the last quarter. Asset Dedication LLC acquired a new position in Plains GP during the second quarter valued at approximately $83,000. Finally, Virtus Advisers LLC boosted its position in Plains GP by 46.5% during the fourth quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock valued at $112,000 after purchasing an additional 1,859 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

About Plains GP

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.