Plains GP (NYSE:PAGP) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Plains GP Holdings, L.P. (NYSE:PAGP) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $23.92 and traded as high as $25.87. Plains GP shares last traded at $25.51, with a volume of 1,811,367 shares trading hands.

Analyst Ratings Changes

Several research firms recently issued reports on PAGP. Bank of America cut shares of Plains GP from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Wednesday, January 28th. Citigroup upped their price target on shares of Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wells Fargo & Company increased their target price on shares of Plains GP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Barclays increased their target price on shares of Plains GP from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Finally, Morgan Stanley increased their target price on shares of Plains GP from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.50.

Plains GP Stock Down 1.7%

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The stock’s fifty day simple moving average is $23.92 and its two-hundred day simple moving average is $21.40. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 48.13 and a beta of 0.46.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Friday, May 1st. Plains GP’s dividend payout ratio (DPR) is 172.16%.

Institutional Trading of Plains GP

A number of large investors have recently modified their holdings of the company. McIlrath & Eck LLC increased its holdings in shares of Plains GP by 5.9% in the 1st quarter. McIlrath & Eck LLC now owns 12,133 shares of the pipeline company’s stock worth $295,000 after acquiring an additional 677 shares during the period. Bank of America Corp DE increased its holdings in shares of Plains GP by 86.3% in the 1st quarter. Bank of America Corp DE now owns 3,752,707 shares of the pipeline company’s stock worth $91,116,000 after acquiring an additional 1,738,351 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Plains GP by 3.7% in the 1st quarter. Arkadios Wealth Advisors now owns 96,014 shares of the pipeline company’s stock worth $2,331,000 after acquiring an additional 3,390 shares during the period. Amundi acquired a new stake in shares of Plains GP in the 1st quarter worth about $734,000. Finally, California State Teachers Retirement System increased its holdings in shares of Plains GP by 33.2% in the 1st quarter. California State Teachers Retirement System now owns 233,102 shares of the pipeline company’s stock worth $5,660,000 after acquiring an additional 58,138 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.