Plains GP (NYSE:PAGP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Plains GP (NYSE:PAGP - Get Free Report) had its price objective upped by analysts at JPMorgan Chase & Co. from $19.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the pipeline company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 1.73% from the company's current price.

PAGP has been the subject of a number of other reports. Morgan Stanley boosted their price objective on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Wall Street Zen raised Plains GP from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Citigroup decreased their price objective on Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Mizuho decreased their price objective on Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Finally, Barclays decreased their price objective on Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Plains GP has a consensus rating of "Hold" and a consensus target price of $20.88.

Plains GP Stock Down 0.5%

Plains GP stock traded down $0.09 during midday trading on Wednesday, reaching $19.66. The stock had a trading volume of 1,644,394 shares, compared to its average volume of 1,586,995. Plains GP has a 12 month low of $16.61 and a 12 month high of $22.31. The company has a market capitalization of $3.89 billion, a P/E ratio of 37.10 and a beta of 0.63. The company has a fifty day moving average price of $18.47 and a two-hundred day moving average price of $19.65. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Hedge Funds Weigh In On Plains GP

Several institutional investors have recently modified their holdings of PAGP. Jones Financial Companies Lllp grew its holdings in shares of Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock valued at $25,000 after acquiring an additional 520 shares in the last quarter. Allworth Financial LP bought a new position in shares of Plains GP in the fourth quarter valued at approximately $44,000. Farther Finance Advisors LLC grew its holdings in Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after purchasing an additional 2,355 shares during the period. Mark Sheptoff Financial Planning LLC grew its holdings in Plains GP by 1,000.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company's stock valued at $81,000 after purchasing an additional 4,000 shares during the period. Finally, Atala Financial Inc purchased a new stake in Plains GP in the fourth quarter worth $90,000. 88.30% of the stock is owned by institutional investors.

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.