Plains GP (NYSE:PAGP) PT Raised to $22.00 at Stifel Nicolaus

Plains GP (NYSE:PAGP) had its price objective boosted by analysts at Stifel Nicolaus from $18.00 to $22.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 20.42% from the company’s current price.

Several other brokerages also recently weighed in on PAGP. Barclays lifted their price target on shares of Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, April 12th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. The Goldman Sachs Group lifted their price target on shares of Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Citigroup lifted their price target on shares of Plains GP from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, UBS Group boosted their target price on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Plains GP presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.55.

Plains GP Stock Performance

PAGP opened at $18.27 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 17.91 and a beta of 1.55. The company’s 50 day moving average is $17.68 and its 200 day moving average is $16.56. Plains GP has a 12-month low of $12.59 and a 12-month high of $19.77.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.88 billion. On average, equities research analysts predict that Plains GP will post 1.02 EPS for the current year.

Institutional Investors Weigh In On Plains GP

Several large investors have recently bought and sold shares of PAGP. Geneos Wealth Management Inc. increased its position in Plains GP by 60.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 1,300 shares during the last quarter. Spire Wealth Management increased its position in Plains GP by 63.2% in the third quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 983 shares during the last quarter. Rational Advisors LLC bought a new stake in Plains GP in the third quarter worth $43,000. Mather Group LLC. bought a new stake in Plains GP in the first quarter worth $44,000. Finally, Allworth Financial LP bought a new stake in Plains GP in the third quarter worth $48,000. Institutional investors own 88.30% of the company’s stock.

About Plains GP

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.