Plains GP (NYSE:PAGP) PT Raised to $16.00

Plains GP (NYSE:PAGPFree Report) had its price objective upped by The Goldman Sachs Group from $14.50 to $16.00 in a research report report published on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the pipeline company’s stock.

A number of other brokerages also recently issued reports on PAGP. StockNews.com upgraded shares of Plains GP from a hold rating to a buy rating in a report on Monday, March 4th. Scotiabank started coverage on Plains GP in a research report on Monday, April 8th. They issued a sector outperform rating and a $23.00 target price on the stock. Citigroup boosted their target price on Plains GP from $16.50 to $17.50 and gave the company a neutral rating in a research report on Friday, March 1st. Finally, Barclays boosted their target price on Plains GP from $16.00 to $18.00 and gave the company an underweight rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Plains GP currently has a consensus rating of Moderate Buy and an average target price of $19.28.

Read Our Latest Analysis on PAGP

Plains GP Trading Down 1.5 %

PAGP opened at $18.48 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87. The company’s 50 day simple moving average is $17.59 and its two-hundred day simple moving average is $16.53. Plains GP has a 1-year low of $12.59 and a 1-year high of $19.77. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 18.12 and a beta of 1.55.

Plains GP (NYSE:PAGPGet Free Report) last released its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.88 billion. Plains GP had a return on equity of 1.33% and a net margin of 0.41%. Analysts expect that Plains GP will post 1.02 EPS for the current fiscal year.

Plains GP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.87%. Plains GP’s payout ratio is currently 124.51%.

Hedge Funds Weigh In On Plains GP

Several large investors have recently bought and sold shares of PAGP. Arizona State Retirement System increased its holdings in Plains GP by 1.4% in the third quarter. Arizona State Retirement System now owns 55,354 shares of the pipeline company’s stock valued at $892,000 after buying an additional 749 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Plains GP by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 168,128 shares of the pipeline company’s stock valued at $2,091,000 after purchasing an additional 771 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Plains GP by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 171,847 shares of the pipeline company’s stock valued at $2,770,000 after acquiring an additional 781 shares during the period. Donoghue Forlines LLC increased its stake in Plains GP by 3.5% during the 4th quarter. Donoghue Forlines LLC now owns 24,937 shares of the pipeline company’s stock worth $398,000 after buying an additional 841 shares during the period. Finally, Spire Wealth Management increased its stake in Plains GP by 63.2% during the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock worth $41,000 after buying an additional 983 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Plains GP Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Plains GP (NYSE:PAGP)

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