Plains GP (NYSE:PAGP) Price Target Increased to $22.00 by Analysts at Stifel Nicolaus

Plains GP (NYSE:PAGP) had its target price raised by Stifel Nicolaus from $18.00 to $22.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently 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 firms have also recently commented on PAGP. UBS Group boosted their price target on Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Citigroup lifted their price target on shares of Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Scotiabank started coverage on shares of Plains GP in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.55.

Plains GP Price Performance

Plains GP stock opened at $18.48 on Tuesday. Plains GP has a 52-week low of $12.59 and a 52-week high of $19.77. The firm has a market capitalization of $3.64 billion, a P/E ratio of 18.12 and a beta of 1.55. 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 firm has a fifty day moving average of $17.59 and a 200-day moving average of $16.53.

Plains GP (NYSE:PAGP) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. As a group, analysts predict that Plains GP will post 1.02 EPS for the current year.

Institutional Investors Weigh In On Plains GP

A number of hedge funds have recently added to or reduced their stakes in PAGP. Mather Group LLC. acquired a new stake in shares of Plains GP in the 1st quarter worth about $44,000. Spire Wealth Management raised its holdings in shares of Plains GP by 63.2% during the third 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 position in shares of Plains GP during the third quarter worth approximately $43,000. Allworth Financial LP acquired a new position in shares of Plains GP during the third quarter worth approximately $48,000. Finally, Geneos Wealth Management Inc. grew its holdings in Plains GP by 60.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after buying an additional 1,300 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

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.