Plains GP (NYSE:PAGP) Price Target Raised to $23.00 at Morgan Stanley

Plains GP (NYSE:PAGP) had its price target hoisted by research analysts at Morgan Stanley from $19.00 to $23.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s price target indicates a potential upside of 7.18% from the company’s current price.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Barclays lifted their price target on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, January 10th. Finally, Raymond James lifted their target price on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Plains GP Trading Up 0.6 %

Shares of NYSE:PAGP opened at $21.46 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $21.26 and its 200 day moving average price is $19.59. The company has a market cap of $4.24 billion, a PE ratio of 40.49 and a beta of 1.55. Plains GP has a fifty-two week low of $17.17 and a fifty-two week high of $22.31.

Institutional Investors Weigh In On Plains GP

Several hedge funds have recently bought and sold shares of PAGP. Tortoise Capital Advisors L.L.C. grew its stake in Plains GP by 8.0% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock valued at $229,989,000 after acquiring an additional 927,855 shares in the last quarter. Chickasaw Capital Management LLC grew its position in Plains GP by 24.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock valued at $151,047,000 after purchasing an additional 1,629,008 shares in the last quarter. Clearbridge Investments LLC increased its stake in Plains GP by 11.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock valued at $113,077,000 after buying an additional 646,130 shares during the period. Two Sigma Advisers LP lifted its position in Plains GP by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company’s stock worth $73,610,000 after buying an additional 19,900 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Plains GP by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 3,167,192 shares of the pipeline company’s stock valued at $58,213,000 after buying an additional 288,430 shares during the period. 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.