Plains GP Holdings said on April 6, 2023 that its board of directors declared a regular
quarterly dividend of $0.27 per share ($1.07 annualized).
Previously, the company paid $0.22 per share.
Shares must be purchased before the ex-div date of April 28, 2023 to qualify for the dividend.
Shareholders of record as of May 1, 2023
will receive the payment on May 15, 2023.
At the current share price of $13.68 / share,
the stock’s dividend yield is 7.82%.
Looking back five years and taking a sample every week, the average dividend yield has been
7.70%,
the lowest has been 4.73%,
and the highest has been 28.97%.
The standard deviation of yields is 3.45 (n=237).
The current dividend yield is
0.03 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 1.24.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.26%.
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What is the Fund Sentiment?
There are 384 funds or institutions reporting positions in Plains GP Holdings.
This is an increase
of
8
owner(s) or 2.13% in the last quarter.
Average portfolio weight of all funds dedicated to PAGP is 0.71%,
an increase
of 11.34%.
Total shares owned by institutions increased
in the last three months by 6.72% to 244,487K shares.
The put/call ratio of PAGP is 0.98, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 16.37% Upside
As of April 6, 2023,
the average one-year price target for Plains GP Holdings is $15.92.
The forecasts range from a low of $13.13 to a high of $21.00.
The average price target represents an increase of 16.37% from its latest reported closing price of $13.68.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Plains GP Holdings
is $64,388MM, an increase of 12.29%.
The projected annual non-GAAP EPS
is $1.09.
What are Other Shareholders Doing?
Zurcher Kantonalbank
holds 34K shares
representing 0.02% ownership of the company.
No change in the last quarter.
UMI – USCF Midstream Energy Income Fund
holds 853K shares
representing 0.44% ownership of the company.
In it’s prior filing, the firm reported owning 806K shares, representing
an increase
of 5.55%.
The firm
increased
its portfolio allocation in PAGP by 5.70% over the last quarter.
Bnp Paribas Arbitrage
holds 367K shares
representing 0.19% ownership of the company.
In it’s prior filing, the firm reported owning 360K shares, representing
an increase
of 1.73%.
The firm
decreased
its portfolio allocation in PAGP by 84.47% over the last quarter.
Cetera Advisor Networks
holds 100K shares
representing 0.05% ownership of the company.
In it’s prior filing, the firm reported owning 42K shares, representing
an increase
of 57.98%.
The firm
increased
its portfolio allocation in PAGP by 76.96% over the last quarter.
NATIONWIDE MUTUAL FUNDS – Nationwide Multi-Cap Portfolio Class R6
holds 1K shares
representing 0.00% ownership of the company.
In it’s prior filing, the firm reported owning 1K shares, representing
an increase
of 1.17%.
The firm
increased
its portfolio allocation in PAGP by 0.51% over the last quarter.
Plains GP Holdings Background Information
(This description is provided by the company.)
Plains GP Holdings is a publicly traded entity that owns a non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America. PAGP is headquartered in Houston, Texas.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
