Plains GP (NYSE:PAGP - Get Free Report) had its price target increased by equities research analysts at Wells Fargo & Company from $19.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the pipeline company's stock. Wells Fargo & Company's price target would indicate a potential upside of 7.99% from the company's current price.
Several other equities analysts also recently commented on PAGP. The Goldman Sachs Group boosted their target price on shares of Plains GP from $14.50 to $16.00 and gave the stock a "sell" rating in a report on Friday, April 12th. Scotiabank began coverage on shares of Plains GP in a research report on Monday, April 8th. They issued a "sector outperform" rating and a $23.00 price objective on the stock. StockNews.com upgraded shares of Plains GP from a "hold" rating to a "buy" rating in a research note on Monday, March 4th. UBS Group lifted their price objective on shares of Plains GP from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, April 12th. Finally, Stifel Nicolaus boosted their target price on shares of Plains GP from $18.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.64.
View Our Latest Stock Analysis on PAGP
Plains GP Trading Up 1.4 %
NYSE:PAGP traded up $0.25 during midday trading on Wednesday, reaching $18.52. 2,430,868 shares of the stock traded hands, compared to its average volume of 2,257,048. The company has a fifty day moving average of $18.18 and a 200 day moving average of $16.84. Plains GP has a 12 month low of $13.09 and a 12 month high of $19.77. The stock has a market capitalization of $3.65 billion, a P/E ratio of 20.88 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 0.98.
Plains GP (NYSE:PAGP - Get Free Report) last released its earnings results on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a return on equity of 1.15% and a net margin of 0.35%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.88 billion. On average, research analysts predict that Plains GP will post 1.05 EPS for the current year.
Institutional Investors Weigh In On Plains GP
Hedge funds have recently modified their holdings of the stock. Spire Wealth Management boosted its stake in shares of Plains GP by 63.2% during the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company's stock valued at $41,000 after buying an additional 983 shares during the last quarter. Rational Advisors LLC acquired a new position in Plains GP during the 3rd quarter worth $43,000. Mather Group LLC. bought a new stake in shares of Plains GP in the 1st quarter worth about $44,000. Allworth Financial LP bought a new position in shares of Plains GP during the third quarter worth about $48,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Plains GP by 95.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company's stock worth $56,000 after purchasing an additional 1,697 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.
About Plains GP
(
Get Free Report)
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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