Wells Fargo & Company Boosts Plains GP (NYSE:PAGP) Price Target to $20.00

Plains GP (NYSE:PAGP) had its price target lifted by equities researchers at Wells Fargo & Company from $19.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.87% from the stock’s current price.

Several other brokerages have also recently issued reports on PAGP. Barclays lifted their target price on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Stifel Nicolaus lifted their price target on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Scotiabank began coverage on Plains GP in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. The Goldman Sachs Group lifted their price target on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.64.

Plains GP Stock Up 0.1 %

Shares of NYSE:PAGP opened at $18.54 on Wednesday. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 21.07 and a beta of 1.53. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. Plains GP has a 12-month low of $13.09 and a 12-month high of $19.77. The business’s 50 day moving average is $18.24 and its 200 day moving average is $16.87.

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

Institutional Trading of Plains GP

Several hedge funds have recently made changes to their positions in the company. Entropy Technologies LP raised its stake in shares of Plains GP by 182.9% in the first quarter. Entropy Technologies LP now owns 72,875 shares of the pipeline company’s stock valued at $1,330,000 after buying an additional 47,115 shares during the period. US Bancorp DE raised its stake in shares of Plains GP by 6.7% in the first quarter. US Bancorp DE now owns 82,706 shares of the pipeline company’s stock valued at $1,509,000 after buying an additional 5,167 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Plains GP by 3.8% in the first quarter. Russell Investments Group Ltd. now owns 70,710 shares of the pipeline company’s stock valued at $1,290,000 after buying an additional 2,582 shares during the period. Headlands Technologies LLC bought a new stake in shares of Plains GP in the first quarter valued at $284,000. Finally, PFG Advisors purchased a new position in shares of Plains GP in the first quarter valued at $212,000. 88.30% of the stock is currently owned by institutional investors.

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.