JPMorgan Chase & Co. Issues Positive Forecast for Plains GP (NYSE:PAGP) Stock Price

Plains GP (NYSE:PAGP - Get Free Report) had its price target lifted by JPMorgan Chase & Co. from $19.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the pipeline company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 5.54% from the stock's current price.

Several other equities analysts have also commented on PAGP. Mizuho decreased their price objective on shares of Plains GP from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Morgan Stanley lifted their price objective on shares of Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 25th. Barclays dropped their price objective on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Wall Street Zen upgraded Plains GP from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Citigroup dropped their price target on Plains GP from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.63.

Plains GP Trading Up 0.2%

Plains GP stock opened at $18.95 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market cap of $3.75 billion, a PE ratio of 35.76 and a beta of 0.63. The stock has a 50-day moving average of $18.37 and a two-hundred day moving average of $19.65. Plains GP has a one year low of $16.61 and a one year high of $22.31.

Institutional Trading of Plains GP

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of Plains GP by 28.8% in the fourth quarter. Van ECK Associates Corp now owns 43,193 shares of the pipeline company's stock worth $794,000 after acquiring an additional 9,646 shares during the period. Blue Trust Inc. increased its stake in shares of Plains GP by 915.0% in the 4th quarter. Blue Trust Inc. now owns 14,799 shares of the pipeline company's stock valued at $272,000 after purchasing an additional 13,341 shares in the last quarter. Allworth Financial LP acquired a new position in Plains GP in the 4th quarter worth about $44,000. Csenge Advisory Group boosted its position in Plains GP by 6.6% during the fourth quarter. Csenge Advisory Group now owns 22,757 shares of the pipeline company's stock worth $418,000 after purchasing an additional 1,415 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in Plains GP by 9.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 113,041 shares of the pipeline company's stock valued at $2,078,000 after purchasing an additional 9,460 shares during the period. Hedge funds and other institutional investors own 88.30% of the company's stock.

Plains GP Company Profile

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.

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