Plains GP (NYSE:PAGP) PT Raised to $18.00

Plains GP (NYSE:PAGP) had its price target increased by research analysts at Citigroup from $17.50 to $18.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the pipeline company’s stock. Citigroup’s target price suggests a potential downside of 1.15% from the company’s previous close.

A number of other analysts also recently weighed in on PAGP. Barclays increased their price objective on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Scotiabank initiated coverage on Plains GP in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective for the company. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Stifel Nicolaus raised their price target on shares of Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, UBS Group upped 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. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Plains GP has an average rating of “Moderate Buy” and a consensus price target of $19.60.

Plains GP Trading Down 1.0 %

Shares of PAGP stock traded down $0.19 during mid-day trading on Monday, reaching $18.21. 954,417 shares of the stock traded hands, compared to its average volume of 2,221,240. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 20.65 and a beta of 1.53. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $18.13 and its two-hundred day simple moving average is $16.81. Plains GP has a 1-year low of $13.09 and a 1-year high of $19.77.

Plains GP (NYSE:PAGP) last posted 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 business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. On average, research analysts anticipate that Plains GP will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains GP

A number of hedge funds have recently bought and sold shares of PAGP. Cambridge Investment Research Advisors Inc. raised its holdings in Plains GP by 9.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 57,624 shares of the pipeline company’s stock valued at $929,000 after acquiring an additional 5,185 shares during the period. Raymond James & Associates lifted its holdings in Plains GP by 1.7% during the 3rd quarter. Raymond James & Associates now owns 103,779 shares of the pipeline company’s stock worth $1,673,000 after purchasing an additional 1,760 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Plains GP by 2.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 126,694 shares of the pipeline company’s stock worth $2,042,000 after purchasing an additional 3,337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Plains GP by 31.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,967 shares of the pipeline company’s stock valued at $725,000 after acquiring an additional 10,838 shares during the period. Finally, Chicago Partners Investment Group LLC grew its stake in Plains GP by 2.7% during the third quarter. Chicago Partners Investment Group LLC now owns 140,710 shares of the pipeline company’s stock valued at $2,261,000 after acquiring an additional 3,650 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.