Plains GP Holdings, L.P. (NYSE:PAGP) Receives $19.88 Consensus Target Price from Analysts

Plains GP Holdings, L.P. (NYSE:PAGP) has been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $19.88.

Several equities analysts recently commented on the stock. Wells Fargo & Company cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th.

Institutional Trading of Plains GP

Several institutional investors have recently added to or reduced their stakes in PAGP. Hara Capital LLC bought a new stake in shares of Plains GP in the 3rd quarter valued at about $57,000. Eastern Bank bought a new position in shares of Plains GP in the third quarter worth approximately $76,000. Continuum Advisory LLC increased its stake in shares of Plains GP by 10.0% in the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after buying an additional 637 shares during the period. Insigneo Advisory Services LLC purchased a new stake in Plains GP during the 3rd quarter valued at $188,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in Plains GP in the 3rd quarter worth $200,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Price Performance

Shares of NYSE PAGP opened at $18.78 on Wednesday. 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 stock has a market cap of $3.71 billion, a PE ratio of 22.09 and a beta of 1.58. Plains GP has a fifty-two week low of $15.78 and a fifty-two week high of $20.10. The stock has a fifty day moving average of $18.67 and a 200-day moving average of $18.78.

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.