Plains GP (NYSE:PAGP) PT Raised to $18.00 at Citigroup

Plains GP (NYSE:PAGP) had its target price boosted by research analysts at Citigroup from $17.50 to $18.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the pipeline company’s stock. Citigroup’s price objective points to a potential downside of 1.48% from the company’s current price.

Several other research firms also recently issued reports on PAGP. Barclays increased their price objective on shares of Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Stifel Nicolaus lifted their price objective on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. UBS Group boosted their price objective on Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Finally, The Goldman Sachs Group boosted their price target on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.60.

Plains GP Stock Performance

NYSE PAGP opened at $18.27 on Monday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 20.76 and a beta of 1.53. The stock has a 50-day moving average of $18.18 and a 200 day moving average of $16.84. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Plains GP has a twelve month low of $13.09 and a twelve month high of $19.77.

Plains GP (NYSE:PAGP) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a return on equity of 1.15% and a net margin of 0.35%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Sell-side analysts anticipate that Plains GP will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains GP

Large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. increased its position in shares of Plains GP by 88.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,772,217 shares of the pipeline company’s stock worth $60,167,000 after purchasing an additional 1,774,438 shares during the last quarter. Chickasaw Capital Management LLC increased its position in shares of Plains GP by 6.9% during the fourth quarter. Chickasaw Capital Management LLC now owns 6,632,388 shares of the pipeline company’s stock valued at $105,787,000 after acquiring an additional 429,179 shares during the last quarter. Requisite Capital Management LLC raised its stake in shares of Plains GP by 36.1% in the 3rd quarter. Requisite Capital Management LLC now owns 58,783 shares of the pipeline company’s stock valued at $948,000 after acquiring an additional 15,591 shares during the period. Cambria Investment Management L.P. lifted its holdings in shares of Plains GP by 7.1% in the 3rd quarter. Cambria Investment Management L.P. now owns 707,543 shares of the pipeline company’s stock worth $11,406,000 after acquiring an additional 46,844 shares during the last quarter. Finally, ProVise Management Group LLC boosted its position in shares of Plains GP by 13.0% during the 3rd quarter. ProVise Management Group LLC now owns 333,584 shares of the pipeline company’s stock worth $5,377,000 after purchasing an additional 38,407 shares during the period. Institutional investors and hedge funds 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.