Plains GP Holdings LP (PAGP) Stock Rating Upgraded by Deutsche Bank AG
Plains GP Holdings LP (NYSE:PAGP) was upgraded by equities research analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $15.00 price target on the stock, up from their prior price target of $13.00. Deutsche Bank AG’s price target suggests a potential upside of 9.73% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. Morgan Stanley boosted their target price on Plains GP Holdings from $12.50 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 4th. Wells Fargo & Co. upgraded Plains GP Holdings from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 5th. Wunderlich boosted their target price on Plains GP Holdings from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Wednesday, August 31st. Citigroup Inc. restated a “buy” rating and issued a $12.50 target price (up from $12.00) on shares of Plains GP Holdings in a report on Tuesday, August 16th. Finally, Zacks Investment Research upgraded Plains GP Holdings from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, August 16th. Seventeen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.94.
Plains GP Holdings (NYSE:PAGP) traded up 4.91% during mid-day trading on Monday, hitting $13.67. 2,347,763 shares of the stock were exchanged. Plains GP Holdings has a one year low of $4.72 and a one year high of $19.11. The company has a market cap of $3.65 billion, a P/E ratio of 24.59 and a beta of 1.54. The company has a 50-day moving average price of $11.98 and a 200-day moving average price of $10.48.
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Plains GP Holdings (NYSE:PAGP) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The firm earned $4.95 billion during the quarter, compared to the consensus estimate of $4.76 billion. Plains GP Holdings had a net margin of 0.69% and a return on equity of 1.36%. The company’s quarterly revenue was down 25.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. On average, analysts predict that Plains GP Holdings will post $0.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be given a $0.2065 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Thursday, October 27th. Plains GP Holdings’s dividend payout ratio (DPR) is 170.37%.
Hedge funds have recently made changes to their positions in the stock. Harvest Fund Advisors LLC boosted its stake in shares of Plains GP Holdings by 34.0% in the first quarter. Harvest Fund Advisors LLC now owns 5,704,595 shares of the company’s stock worth $49,573,000 after buying an additional 1,446,048 shares during the period. Springbok Capital Management LLC boosted its stake in shares of Plains GP Holdings by 48,060.0% in the first quarter. Springbok Capital Management LLC now owns 240,800 shares of the company’s stock worth $2,093,000 after buying an additional 240,300 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Plains GP Holdings during the first quarter worth $14,117,000. Geode Capital Management LLC bought a new stake in shares of Plains GP Holdings during the first quarter worth $145,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Plains GP Holdings during the first quarter worth $107,000. Hedge funds and other 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.
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