Mizuho Boosts Plains GP (NYSE:PAGP) Price Target to $22.00

Plains GP (NYSE:PAGP - Get Free Report) had its price target hoisted by analysts at Mizuho from $20.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the pipeline company's stock. Mizuho's price objective points to a potential upside of 10.80% from the stock's current price.

Several other equities analysts have also recently commented on PAGP. Morgan Stanley boosted their target price on Plains GP from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research 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 cut their price target on shares of Plains GP from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of Plains GP from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Barclays cut their target price on shares of Plains GP from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.88.

Plains GP Price Performance

NYSE PAGP traded up $0.91 on Wednesday, hitting $19.86. The stock had a trading volume of 1,404,708 shares, compared to its average volume of 1,573,333. Plains GP has a 52-week low of $16.61 and a 52-week high of $22.31. 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 company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 37.41 and a beta of 0.63. The firm has a 50-day moving average of $18.37 and a 200-day moving average of $19.65.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PAGP. Northern Trust Corp raised its holdings in shares of Plains GP by 27.2% during the fourth quarter. Northern Trust Corp now owns 80,964 shares of the pipeline company's stock valued at $1,488,000 after acquiring an additional 17,333 shares in the last quarter. Plato Investment Management Ltd increased its position in Plains GP by 144.2% during the 4th quarter. Plato Investment Management Ltd now owns 35,812 shares of the pipeline company's stock valued at $661,000 after purchasing an additional 21,146 shares during the period. Oppenheimer & Co. Inc. bought a new position in Plains GP in the 4th quarter worth $380,000. Bank of Montreal Can lifted its position in shares of Plains GP by 36.4% in the 4th quarter. Bank of Montreal Can now owns 43,284 shares of the pipeline company's stock worth $796,000 after purchasing an additional 11,541 shares during the period. Finally, Barclays PLC boosted its stake in shares of Plains GP by 7.9% during the 4th quarter. Barclays PLC now owns 890,577 shares of the pipeline company's stock valued at $16,370,000 after purchasing an additional 65,080 shares in the last quarter. 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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