Plains GP (NYSE:PAGP) Price Target Increased to $23.00 by Analysts at UBS Group

Plains GP (NYSE:PAGP - Free Report) had its target price upped by UBS Group from $22.00 to $23.00 in a research note released on Friday morning, Benzinga reports. UBS Group currently has a buy rating on the pipeline company's stock.

PAGP has been the subject of several other reports. Barclays increased their price objective on shares of Plains GP from $16.00 to $18.00 and gave the stock an underweight rating in a research report on Friday. Citigroup lifted their price target on shares of Plains GP from $16.50 to $17.50 and gave the company a neutral rating in a research note on Friday, March 1st. The Goldman Sachs Group lifted their price target on shares of Plains GP from $14.50 to $16.00 and gave the company a sell rating in a research note on Friday. StockNews.com raised shares of Plains GP from a hold rating to a buy rating in a research report on Monday, March 4th. Finally, Scotiabank assumed coverage on shares of Plains GP in a research report on Monday. They set a sector outperform rating and a $23.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $19.28.

Plains GP Trading Down 1.1 %

Shares of PAGP stock traded down $0.20 during trading hours on Friday, hitting $18.76. 1,677,463 shares of the company's stock traded hands, compared to its average volume of 2,229,921. The stock's 50 day simple moving average is $17.54 and its 200 day simple moving average is $16.51. The stock has a market cap of $3.70 billion, a PE ratio of 18.39 and a beta of 1.55. Plains GP has a 12 month low of $12.59 and a 12 month high of $19.77. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49.

Plains GP (NYSE:PAGP - Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. On average, sell-side analysts anticipate that Plains GP will post 1.02 EPS for the current year.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 6.77%. The ex-dividend date is Tuesday, April 30th. Plains GP's dividend payout ratio (DPR) is currently 124.51%.

Institutional Trading of Plains GP

Hedge funds and other institutional investors have recently modified their holdings of the business. True North Advisors LLC bought a new stake in Plains GP during the 1st quarter worth approximately $1,096,000. Mather Group LLC. bought a new stake in Plains GP during the 1st quarter worth approximately $44,000. General Partner Inc. bought a new stake in Plains GP during the 1st quarter worth approximately $100,000. B. Riley Wealth Advisors Inc. increased its holdings in Plains GP by 4.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 63,428 shares of the pipeline company's stock worth $1,012,000 after acquiring an additional 2,677 shares during the period. Finally, Tucker Asset Management LLC bought a new stake in Plains GP during the 4th quarter worth approximately $73,000. 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.