Plains GP (NYSE:PAGP) Price Target Raised to $24.00 at Raymond James

Plains GP (NYSE:PAGP - Get Free Report) had its price target boosted by analysts at Raymond James from $23.00 to $24.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "strong-buy" rating on the pipeline company's stock. Raymond James' price objective suggests a potential upside of 10.40% from the stock's current price.

Several other research analysts have also commented on PAGP. StockNews.com raised Plains GP from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Barclays boosted their price target on Plains GP from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Wolfe Research raised shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Morgan Stanley lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Plains GP currently has an average rating of "Hold" and a consensus target price of $20.60.

Plains GP Trading Up 1.3 %

Plains GP stock traded up $0.28 during trading on Tuesday, reaching $21.74. The company had a trading volume of 1,588,329 shares, compared to its average volume of 2,084,155. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 25.58 and a beta of 1.58. Plains GP has a 12-month low of $15.78 and a 12-month high of $22.31. The stock's 50 day moving average price is $19.51 and its two-hundred day moving average price is $18.97.

Plains GP (NYSE:PAGP - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.21). The firm had revenue of $12.74 billion during the quarter, compared to analysts' expectations of $13.17 billion. Plains GP had a return on equity of 1.12% and a net margin of 0.33%. During the same quarter last year, the business earned $0.15 earnings per share. As a group, equities analysts expect that Plains GP will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plains GP

Several large investors have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY boosted its holdings in shares of Plains GP by 2.3% in the fourth quarter. Miller Howard Investments Inc. NY now owns 1,535,470 shares of the pipeline company's stock valued at $28,222,000 after acquiring an additional 34,894 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Plains GP by 1,862.0% in the 4th quarter. Stephens Inc. AR now owns 207,678 shares of the pipeline company's stock valued at $3,817,000 after purchasing an additional 197,093 shares during the period. Golden State Wealth Management LLC acquired a new stake in Plains GP during the 4th quarter worth about $33,000. F&V Capital Management LLC purchased a new stake in Plains GP during the fourth quarter valued at about $153,000. Finally, Leisure Capital Management acquired a new position in shares of Plains GP in the fourth quarter worth about $931,000. 88.30% of the stock is owned by institutional investors and hedge funds.

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.