Plains GP (NYSE:PAGP) PT Raised to $22.00 at Stifel Nicolaus

Plains GP (NYSE:PAGP) had its price target hoisted by Stifel Nicolaus from $18.00 to $22.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the pipeline company’s stock.

A number of other equities analysts have also weighed in on PAGP. Scotiabank started coverage on Plains GP in a research note on Monday, April 8th. They issued a sector outperform rating and a $23.00 price objective for the company. Citigroup boosted their target price on shares of Plains GP from $16.50 to $17.50 and gave the stock a neutral rating in a report on Friday, March 1st. The Goldman Sachs Group boosted their price target on shares of Plains GP from $14.50 to $16.00 and gave the stock a sell rating in a research note on Friday, April 12th. Barclays lifted their target price on Plains GP from $16.00 to $18.00 and gave the stock an underweight rating in a report on Friday, April 12th. Finally, StockNews.com raised Plains GP from a hold rating to a buy rating in a research note on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $19.55.

Plains GP Stock Down 1.3 %

PAGP opened at $18.24 on Tuesday. The firm’s 50 day simple moving average is $17.63 and its two-hundred day simple moving average is $16.55. Plains GP has a 1-year low of $12.59 and a 1-year high of $19.77. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.60 billion, a PE ratio of 17.88 and a beta of 1.55.

Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Plains GP had a net margin of 0.41% and a return on equity of 1.33%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.88 billion. As a group, equities analysts forecast that Plains GP will post 1.02 EPS for the current year.

Plains GP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains GP’s dividend payout ratio (DPR) is currently 124.51%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in shares of Plains GP by 60.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,445 shares of the pipeline company’s stock worth $39,000 after acquiring an additional 1,300 shares during the last quarter. Spire Wealth Management boosted its position in Plains GP by 63.2% in the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock valued at $41,000 after buying an additional 983 shares during the period. Rational Advisors LLC bought a new position in Plains GP in the 3rd quarter worth about $43,000. Mather Group LLC. bought a new stake in shares of Plains GP during the first quarter valued at approximately $44,000. Finally, Allworth Financial LP purchased a new stake in shares of Plains GP in the third quarter valued at approximately $48,000. Institutional investors own 88.30% of the company’s stock.

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.