Plains GP Holdings’ (PAGP) “Sector Perform” Rating Reiterated at Scotiabank
Plains GP Holdings LP (NYSE:PAGP)‘s stock had its “sector perform” rating reiterated by analysts at Scotiabank in a research report issued on Monday. They currently have a $14.00 price objective on the stock, up from their previous price objective of $10.00. Scotiabank’s price objective points to a potential upside of 2.41% from the stock’s previous close.
A number of other research analysts also recently commented on the company. Howard Weil boosted their target price on Plains GP Holdings from $10.00 to $14.00 and gave the company a “sector perform” rating in a research note on Monday. Deutsche Bank AG upgraded Plains GP Holdings from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $15.00 in a research note on Monday. Wells Fargo & Co. upgraded Plains GP Holdings from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 5th. Morgan Stanley boosted their target price on Plains GP Holdings from $12.50 to $14.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 4th. Finally, Wunderlich boosted their target price on Plains GP Holdings from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Wednesday, August 31st. Eighteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.06.
Plains GP Holdings (NYSE:PAGP) traded up 4.91% during midday trading on Monday, reaching $13.67. The company’s stock had a trading volume of 2,347,803 shares. The stock has a 50 day moving average of $11.98 and a 200 day moving average of $10.48. The firm has a market capitalization of $3.65 billion, a PE ratio of 24.59 and a beta of 1.54. Plains GP Holdings has a 52 week low of $4.72 and a 52 week high of $19.11.
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 https://www.americanbankingnews.com/2016/10/10/plains-gp-holdings-pagp-sector-perform-rating-reiterated-at-scotiabank.html
Plains GP Holdings (NYSE:PAGP) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.04. Plains GP Holdings had a net margin of 0.69% and a return on equity of 1.36%. The business had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. The business’s quarterly revenue was down 25.7% compared to the same quarter last year. On average, equities research analysts predict that Plains GP Holdings will post $0.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be paid a $0.2065 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.83 annualized dividend and a dividend yield of 6.04%. Plains GP Holdings’s dividend payout ratio is currently 170.37%.
Several large investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P bought a new stake in Plains GP Holdings during the first quarter valued at $107,000. Paragon Capital Management Ltd bought a new stake in Plains GP Holdings during the second quarter valued at $107,000. Capital Fund Management S.A. bought a new stake in Plains GP Holdings during the second quarter valued at $116,000. Oppenheimer & Co. Inc. bought a new stake in Plains GP Holdings during the second quarter valued at $117,000. Finally, LS Investment Advisors LLC raised its stake in Plains GP Holdings by 27.4% in the second quarter. LS Investment Advisors LLC now owns 13,139 shares of the company’s stock valued at $137,000 after buying an additional 2,828 shares in 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.