Plains GP (PAGP) Given a $22.00 Price Target by Robert W. Baird Analysts

Plains GP (NYSE:PAGP) received a $22.00 price target from research analysts at Robert W. Baird in a report issued on Wednesday. The brokerage currently has a “hold” rating on the pipeline company’s stock. Robert W. Baird’s price objective points to a potential upside of 3.58% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Plains GP from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, October 24th. Mizuho restated a “buy” rating and set a $27.00 price objective on shares of Plains GP in a report on Friday, October 20th. Barclays restated a “buy” rating and set a $26.00 price objective on shares of Plains GP in a report on Thursday, October 19th. BMO Capital Markets set a $25.00 price objective on Plains GP and gave the stock a “buy” rating in a report on Tuesday, October 17th. Finally, SunTrust Banks set a $24.00 price objective on Plains GP and gave the stock a “hold” rating in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.88.

Shares of Plains GP (PAGP) traded down $0.32 during trading hours on Wednesday, reaching $21.24. The company’s stock had a trading volume of 4,778,816 shares, compared to its average volume of 1,600,000. The firm has a market cap of $6,130.00, a PE ratio of -4.58 and a beta of 1.42. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 0.84. Plains GP has a 52-week low of $18.98 and a 52-week high of $33.66.

Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.20). Plains GP had a positive return on equity of 0.73% and a negative net margin of 2.79%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the business earned $0.39 EPS. Plains GP’s revenue for the quarter was up 13.6% compared to the same quarter last year. equities analysts anticipate that Plains GP will post 1.66 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. raised its position in Plains GP by 4.1% in the second quarter. Alliancebernstein L.P. now owns 32,096 shares of the pipeline company’s stock valued at $840,000 after purchasing an additional 1,277 shares during the period. Ameriprise Financial Inc. raised its position in Plains GP by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 69,788 shares of the pipeline company’s stock valued at $1,826,000 after purchasing an additional 3,541 shares during the period. Northern Trust Corp raised its position in Plains GP by 53.0% in the second quarter. Northern Trust Corp now owns 346,201 shares of the pipeline company’s stock valued at $9,057,000 after purchasing an additional 119,906 shares during the period. FMR LLC raised its position in Plains GP by 149.6% in the second quarter. FMR LLC now owns 60,400 shares of the pipeline company’s stock valued at $1,580,000 after purchasing an additional 36,200 shares during the period. Finally, California Public Employees Retirement System raised its position in Plains GP by 2.1% in the second quarter. California Public Employees Retirement System now owns 229,240 shares of the pipeline company’s stock valued at $5,997,000 after purchasing an additional 4,800 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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About Plains GP

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Analyst Recommendations for Plains GP (NYSE:PAGP)

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