Plains GP (NYSE:PAGP) Stock Rating Upgraded by Zacks Research

Plains GP (NYSE:PAGP) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

A number of other equities research analysts have also issued reports on PAGP. Citigroup lifted their target price on Plains GP from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 17th. Morgan Stanley upped their price target on Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Truist Financial raised their price target on shares of Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Mizuho lifted their price objective on shares of Plains GP from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, September 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Plains GP from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Plains GP currently has an average rating of “Hold” and a consensus price target of $24.91.

Plains GP Stock Performance

Shares of Plains GP stock opened at $26.21 on Tuesday. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 49.45 and a beta of 0.54. The stock’s 50-day moving average is $26.79 and its 200-day moving average is $25.20. Plains GP has a one year low of $16.68 and a one year high of $28.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PAGP. First Bancorp Inc ME acquired a new position in shares of Plains GP during the 2nd quarter worth approximately $30,000. North Star Investment Management Corp. acquired a new stake in shares of Plains GP in the 1st quarter valued at approximately $56,000. Continuum Advisory LLC bought a new position in shares of Plains GP in the second quarter valued at $61,000. Ameritas Advisory Services LLC bought a new position in shares of Plains GP in the second quarter valued at $64,000. Finally, O Domhnaill Enterprises Inc. acquired a new position in Plains GP during the first quarter worth $66,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Plains GP Company Profile

Plains GP Holdings, L.P. is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. Its business exposure is primarily derived from Plains All American, which operates energy infrastructure used to transport, store, gather and handle crude oil and natural gas liquids.

Through its ownership interests in Plains All American and its general partner structure, Plains GP Holdings provides investors with an indirect interest in the operations of one of North America’s major midstream energy companies.