Plains GP (NYSE:PAGP) Upgraded by StockNews.com to “Buy” Rating

Plains GP (NYSE:PAGP) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other equities analysts also recently issued reports on the stock. Barclays raised their price objective on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Raymond James increased their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley lifted their target price on Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plains GP currently has an average rating of “Hold” and a consensus target price of $21.00.

Plains GP Stock Up 0.3 %

PAGP traded up $0.06 during trading on Tuesday, hitting $21.52. 782,765 shares of the company’s stock traded hands, compared to its average volume of 1,490,054. The company’s 50 day simple moving average is $21.27 and its two-hundred day simple moving average is $19.61. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 40.60 and a beta of 1.55. Plains GP has a 12-month low of $17.17 and a 12-month high of $22.31.

Institutional Trading of Plains GP

A number of large investors have recently modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 520 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Plains GP in the fourth quarter valued at approximately $33,000. Allworth Financial LP acquired a new stake in Plains GP in the fourth quarter worth about $44,000. Farther Finance Advisors LLC increased its stake in Plains GP by 8,120.7% during the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 2,355 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock worth $81,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

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.