Plains GP Holdings LP (NYSE:PAGP) reached a new 52-week low during trading on Thursday . The stock traded as low as $17.55 and last traded at $17.59, with a volume of 2602494 shares changing hands. The stock had previously closed at $17.72.

Several research firms have recently commented on PAGP. ValuEngine downgraded Plains GP from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Barclays set a $24.00 price objective on Plains GP and gave the company a “hold” rating in a report on Tuesday, October 15th. Scotiabank began coverage on Plains GP in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Zacks Investment Research raised Plains GP from a “sell” rating to a “hold” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.43.

The firm has a fifty day simple moving average of $19.78 and a 200-day simple moving average of $22.60. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 8.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.96.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. Plains GP had a return on equity of 3.30% and a net margin of 1.39%. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $8.15 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts expect that Plains GP Holdings LP will post 2.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 8.19%. The ex-dividend date of this dividend is Wednesday, October 30th. Plains GP’s dividend payout ratio is 68.25%.

A number of institutional investors have recently made changes to their positions in the business. Chickasaw Capital Management LLC lifted its holdings in Plains GP by 19.8% during the 2nd quarter. Chickasaw Capital Management LLC now owns 9,598,059 shares of the pipeline company’s stock valued at $239,664,000 after purchasing an additional 1,586,393 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in Plains GP by 1.9% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 7,216,719 shares of the pipeline company’s stock worth $180,191,000 after buying an additional 136,000 shares during the period. Massachusetts Financial Services Co. MA increased its position in Plains GP by 1.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,603,282 shares of the pipeline company’s stock worth $118,958,000 after buying an additional 99,355 shares during the period. CIBC Private Wealth Group LLC increased its position in Plains GP by 123.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,245,709 shares of the pipeline company’s stock worth $111,365,000 after buying an additional 2,898,578 shares during the period. Finally, Energy Income Partners LLC increased its position in Plains GP by 4.9% during the 2nd quarter. Energy Income Partners LLC now owns 5,229,460 shares of the pipeline company’s stock worth $130,580,000 after buying an additional 243,152 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Plains GP Company Profile (NYSE:PAGP)

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

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