Barclays Increases Plains GP Holdings Price Target to $34.00 (PAGP)
Analysts at Barclays boosted their price target on shares of Plains GP Holdings (NASDAQ:PAGP) from $32.00 to $34.00 in a research report issued to clients and investors on Friday. Barclays’ price objective indicates a potential upside of 16.80% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Ladenburg Thalmann initiated coverage on shares of Plains GP Holdings in a research note on Tuesday, July 1st. They set a “buy” rating and a $36.00 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Plains GP Holdings from $29.00 to $32.00 in a research note on Monday, June 9th. They now have a “buy” rating on the stock. Finally, analysts at Global Hunter Securities initiated coverage on shares of Plains GP Holdings in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $30.40.
Plains GP Holdings (NASDAQ:PAGP) traded up 1.08% during mid-day trading on Friday, hitting $29.11. The stock had a trading volume of 383,809 shares. Plains GP Holdings has a one year low of $21.50 and a one year high of $32.58. The stock has a 50-day moving average of $30.38 and a 200-day moving average of $28.35. The company has a market cap of $3.954 billion and a P/E ratio of 156.52.
Plains GP Holdings (NASDAQ:PAGP) last announced its earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.50. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.51 billion. On average, analysts predict that Plains GP Holdings will post $0.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a dividend of $0.1834 per share. This represents a $0.73 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a boost from Plains GP Holdings’s previous quarterly dividend of $0.17.
Plains GP Holdings, L.P has direct and indirect partnership interests in Plains All American Pipeline, L.
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