Plains GP (NYSE:PAGP) Price Target Raised to $15.00 at Morgan Stanley

Plains GP (NYSE:PAGPGet Rating) had its price target boosted by Morgan Stanley from $14.00 to $15.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Morgan Stanley’s target price would suggest a potential upside of 33.57% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating in a research report on Monday, January 10th. Sanford C. Bernstein raised shares of Plains GP from a “market perform” rating to an “outperform” rating and set a $14.50 target price for the company in a research note on Tuesday, January 25th. Bank of America upped their target price on shares of Plains GP from $10.50 to $11.00 and gave the company an “underperform” rating in a research note on Tuesday, January 18th. Raymond James increased their price objective on shares of Plains GP from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Finally, StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Plains GP currently has a consensus rating of “Hold” and an average target price of $13.44.

PAGP stock opened at $11.23 on Tuesday. The firm has a market cap of $2.18 billion, a PE ratio of 35.09 and a beta of 1.89. Plains GP has a 1 year low of $9.24 and a 1 year high of $12.95. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $11.57 and a 200 day simple moving average of $11.22.

Plains GP (NYSE:PAGPGet Rating) last posted its quarterly earnings data on Wednesday, February 9th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.21. Plains GP had a net margin of 0.15% and a return on equity of 0.51%. The company had revenue of $12.95 billion for the quarter, compared to the consensus estimate of $10.01 billion. As a group, analysts forecast that Plains GP will post 1.04 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Plains GP by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 157,413 shares of the pipeline company’s stock valued at $1,596,000 after acquiring an additional 880 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of Plains GP by 0.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 257,266 shares of the pipeline company’s stock worth $2,772,000 after buying an additional 987 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Plains GP by 1.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 68,138 shares of the pipeline company’s stock valued at $792,000 after purchasing an additional 989 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of 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, Linscomb & Williams Inc. grew its holdings in Plains GP by 3.6% in the 3rd quarter. Linscomb & Williams Inc. now owns 34,051 shares of the pipeline company’s stock worth $367,000 after acquiring an additional 1,188 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

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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