Plains GP (NYSE:PAGP – Get Rating) was upgraded by Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage presently has a $14.00 target price on the pipeline company’s stock, up from their prior target price of $13.00. Credit Suisse Group’s price objective would indicate a potential upside of 30.35% from the company’s current price.
PAGP has been the topic of a number of other research reports. Morgan Stanley lifted their target price on shares of Plains GP from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, April 26th. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, April 18th. Zacks Investment Research cut shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Sanford C. Bernstein upgraded shares of Plains GP from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a research note on Tuesday, January 25th. Finally, Raymond James boosted their price target on shares of Plains GP from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Plains GP currently has a consensus rating of “Hold” and an average price target of $13.50.
PAGP opened at $10.74 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.98. Plains GP has a fifty-two week low of $9.24 and a fifty-two week high of $12.95. The firm’s fifty day moving average is $11.63 and its 200 day moving average is $11.20. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 153.43 and a beta of 1.76.
Plains GP (NYSE:PAGP – Get Rating) last released its earnings results on Wednesday, February 9th. The pipeline company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.21. Plains GP had a net margin of 0.03% and a return on equity of 0.11%. The company had revenue of $12.95 billion for the quarter, compared to analysts’ expectations of $10.01 billion. On average, equities research analysts predict that Plains GP will post 0.74 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Dark Forest Capital Management LP bought a new position in Plains GP during the 3rd quarter valued at about $33,000. First Quadrant LLC CA bought a new position in Plains GP during the 1st quarter valued at about $36,000. Ahrens Investment Partners LLC grew its holdings in Plains GP by 260.0% during the 1st quarter. Ahrens Investment Partners LLC now owns 3,600 shares of the pipeline company’s stock valued at $42,000 after purchasing an additional 2,600 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in Plains GP by 33.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,031 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new position in Plains GP during the 4th quarter valued at about $44,000. Institutional investors own 90.45% of the company’s stock.
About Plains GP (Get Rating)
Plains GP Holdings, L.P., together with its subsidiaries, owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.
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