Plains GP (NYSE:PAGP) had its price objective cut by Bank of America from $24.00 to $23.00 in a report released on Thursday morning. They currently have a neutral rating on the pipeline company’s stock.

Several other equities analysts have also recently issued reports on PAGP. Robert W. Baird set a $22.00 price objective on Plains GP and gave the company a hold rating in a report on Wednesday. BMO Capital Markets set a $25.00 price target on Plains GP and gave the stock a buy rating in a research note on Tuesday, October 17th. ValuEngine cut Plains GP from a hold rating to a sell rating in a research note on Thursday. BidaskClub cut Plains GP from a sell rating to a strong sell rating in a research note on Tuesday, October 17th. Finally, Barclays cut Plains GP from an overweight rating to an equal weight rating and set a $26.00 price target on the stock. in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $25.88.

Shares of Plains GP (PAGP) traded down $0.51 during mid-day trading on Thursday, hitting $20.73. The stock had a trading volume of 1,736,660 shares, compared to its average volume of 1,804,804. The firm has a market cap of $3,338.42, a PE ratio of 31.71 and a beta of 1.39. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 0.84. Plains GP has a fifty-two week low of $18.98 and a fifty-two week high of $33.66.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.20). The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.71 billion. Plains GP had a negative net margin of 2.79% and a positive return on equity of 0.73%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS. research analysts expect that Plains GP will post 1.66 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Tuesday, January 30th. Plains GP’s dividend payout ratio is currently -25.92%.

Several institutional investors have recently bought and sold shares of the company. Center Coast Capital Advisors LP purchased a new position in shares of Plains GP during the fourth quarter worth about $42,264,000. Rockefeller Financial Services Inc. purchased a new position in shares of Plains GP during the 4th quarter worth approximately $34,159,000. Marathon Asset Management LP purchased a new position in shares of Plains GP during the 3rd quarter worth approximately $25,254,000. Atlantic Trust Group LLC increased its stake in shares of Plains GP by 32.0% during the 3rd quarter. Atlantic Trust Group LLC now owns 2,935,457 shares of the pipeline company’s stock worth $64,199,000 after purchasing an additional 711,518 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its stake in Plains GP by 9.4% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,636,798 shares of the pipeline company’s stock worth $167,017,000 after acquiring an additional 653,301 shares during the period. 83.18% of the stock is currently owned by institutional investors and hedge funds.

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About Plains GP

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Analyst Recommendations for Plains GP (NYSE:PAGP)

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