Plains GP Holdings Earns Neutral Rating from Analysts at Wunderlich (PAGP)
Analysts at Wunderlich initiated coverage on shares of Plains GP Holdings (NASDAQ:PAGP) in a research report issued to clients and investors on Tuesday. The firm set a “neutral” rating and a $33.00 price target on the stock. Wunderlich’s price target would indicate a potential upside of 9.42% from the company’s current price.
The analysts wrote, “PAGP is a pure-play general partner deriving 100% of its cash flow from its MLP, PAA, a Credit Suisse Top Pick. PAGP is positioned to deliver strong annual distribution growth with a three-year distribution CAGR of ~18%. PAA has demonstrated strength/resilience from diversified fee-based assets, an investment grade balance sheet, strong performance through a variety of mkt. conditions/economic cycles and one of the strongest management teams in the sector.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse initiated coverage on shares of Plains GP Holdings in a research note on Tuesday. They set a “neutral” rating and a $33.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Plains GP Holdings from $32.00 to $34.00 in a research note on Friday, August 8th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Plains GP Holdings currently has an average rating of “Buy” and a consensus target price of $30.63.
Shares of Plains GP Holdings (NASDAQ:PAGP) opened at 30.16 on Tuesday. Plains GP Holdings has a one year low of $21.50 and a one year high of $32.58. The stock’s 50-day moving average is $30.22 and its 200-day moving average is $28.78. The company has a market cap of $4.103 billion and a price-to-earnings ratio of 104.72.
Plains GP Holdings (NASDAQ:PAGP) last released its earnings data on Wednesday, August 6th. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters 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. Analysts expect that Plains GP Holdings will post $0.49 EPS for the current fiscal year.
Plains GP Holdings, L.P has direct and indirect partnership interests in Plains All American Pipeline, L.
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