Howard Weil Boosts Plains GP Holdings LP (PAGP) Price Target to $14.00
Plains GP Holdings LP (NYSE:PAGP) had its target price upped by Howard Weil from $10.00 to $14.00 in a research note issued to investors on Monday. The firm currently has a “sector perform” rating on the stock. Howard Weil’s target price would suggest a potential upside of 7.44% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. Deutsche Bank AG raised shares of Plains GP Holdings from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Co. raised shares of Plains GP Holdings from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 5th. Morgan Stanley upped their target price on shares of Plains GP Holdings from $12.50 to $14.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 4th. Wunderlich upped their target price on shares of Plains GP Holdings from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Finally, Zacks Investment Research downgraded shares of Plains GP Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Seventeen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.81.
Plains GP Holdings (NYSE:PAGP) opened at 13.03 on Monday. The stock has a market cap of $3.48 billion, a PE ratio of 23.44 and a beta of 1.54. Plains GP Holdings has a 12-month low of $4.72 and a 12-month high of $19.11. The firm has a 50 day moving average of $11.98 and a 200-day moving average of $10.48.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/howard-weil-boosts-plains-gp-holdings-lp-pagp-price-target-to-14-00.html
Plains GP Holdings (NYSE:PAGP) last released its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by $0.04. The company earned $4.95 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Plains GP Holdings had a net margin of 0.69% and a return on equity of 1.36%. Plains GP Holdings’s revenue was down 25.7% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. On average, analysts expect that Plains GP Holdings will post $0.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be given a dividend of $0.2065 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.83 dividend on an annualized basis and a yield of 6.34%. Plains GP Holdings’s payout ratio is currently 170.37%.
A number of institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. purchased a new position in shares of Plains GP Holdings during the second quarter worth approximately $795,000. Harbour Capital Advisors LLC purchased a new position in shares of Plains GP Holdings during the second quarter worth approximately $440,000. Harvest Fund Advisors LLC increased its position in shares of Plains GP Holdings by 69.6% in the second quarter. Harvest Fund Advisors LLC now owns 9,675,198 shares of the company’s stock worth $100,912,000 after buying an additional 3,970,603 shares during the last quarter. Stifel Financial Corp increased its position in shares of Plains GP Holdings by 4.7% in the second quarter. Stifel Financial Corp now owns 288,838 shares of the company’s stock worth $3,013,000 after buying an additional 12,968 shares during the last quarter. Finally, Cypress Wealth Advisors LLC increased its position in shares of Plains GP Holdings by 6.8% in the second quarter. Cypress Wealth Advisors LLC now owns 109,325 shares of the company’s stock worth $1,140,000 after buying an additional 6,925 shares during the last quarter. Institutional investors own 76.78% of the company’s stock.
Plains GP Holdings Company Profile
Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products.
Receive News & Ratings for Plains GP Holdings LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains GP Holdings LP and related companies with MarketBeat.com's FREE daily email newsletter.