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

Plains GP (NYSE:PAGP) had its price target raised by stock analysts at Stifel Nicolaus from $18.00 to $22.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 19.05% from the company’s previous close.

Several other research analysts have also recently commented on PAGP. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Barclays raised their price objective on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday. Citigroup upped their target price on Plains GP from $16.50 to $17.50 and gave the company a “neutral” rating in a research report on Friday, March 1st. The Goldman Sachs Group boosted their price target on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday. Finally, UBS Group increased their price objective on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plains GP presently has a consensus rating of “Moderate Buy” and an average price target of $19.55.

Plains GP Price Performance

Shares of PAGP opened at $18.48 on Tuesday. The firm has a market capitalization of $3.64 billion, a PE ratio of 18.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87. The company’s 50-day moving average is $17.59 and its 200-day moving average is $16.53. Plains GP has a fifty-two week low of $12.59 and a fifty-two week high of $19.77.

Plains GP (NYSE:PAGP) last released its quarterly earnings results 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 net margin of 0.41% and a return on equity of 1.33%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.88 billion. Equities analysts forecast that Plains GP will post 1.02 EPS for the current year.

Hedge Funds Weigh In On Plains GP

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAGP. Geneos Wealth Management Inc. boosted its stake in shares of Plains GP by 60.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 1,300 shares in the last quarter. Spire Wealth Management raised its holdings in Plains GP by 63.2% in 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 stake in Plains GP during the 3rd quarter worth approximately $43,000. Mather Group LLC. acquired a new stake in Plains GP during the 1st quarter worth approximately $44,000. Finally, Allworth Financial LP bought a new stake in Plains GP during the 3rd quarter worth approximately $48,000. 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.