Mizuho Lowers Plains GP (NYSE:PAGP) Price Target to $20.00

Plains GP (NYSE:PAGP) had its price target cut by equities research analysts at Mizuho from $21.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the pipeline company’s stock. Mizuho’s target price suggests a potential upside of 12.61% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Barclays lowered their target price on Plains GP from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Citigroup lowered their target price on Plains GP from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley lifted their price target on Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 25th. Raymond James lifted their price target on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.71.

Plains GP Price Performance

NYSE:PAGP opened at $17.76 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock’s 50-day simple moving average is $19.19 and its 200 day simple moving average is $19.69. The company has a market cap of $3.51 billion, a P/E ratio of 33.51 and a beta of 0.68. Plains GP has a 52-week low of $16.61 and a 52-week high of $22.31.

Institutional Investors Weigh In On Plains GP

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 520 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Plains GP during the fourth quarter worth approximately $33,000. Allworth Financial LP bought a new stake in shares of Plains GP in the fourth quarter valued at approximately $44,000. Farther Finance Advisors LLC boosted its stake in shares of Plains GP by 8,120.7% in the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock valued at $44,000 after buying an additional 2,355 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its stake in shares of Plains GP by 1,000.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock valued at $81,000 after buying an additional 4,000 shares during the period. 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.