Plains GP (NYSE:PAGP) PT Raised to $20.00 at Wells Fargo & Company

Plains GP (NYSE:PAGP) had its price target raised by analysts at Wells Fargo & Company from $19.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.87% from the stock’s current price.

PAGP has been the subject of a number of other research reports. Stifel Nicolaus upped their price objective on shares of Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Citigroup upped their price objective on shares of Plains GP from $17.50 to $18.00 and gave the company a “neutral” rating in a research report on Monday. Scotiabank started coverage on Plains GP in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price for the company. Finally, Barclays increased their target price on Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Plains GP currently has a consensus rating of “Moderate Buy” and an average target price of $19.64.

Plains GP Stock Performance

PAGP stock opened at $18.54 on Wednesday. The business’s fifty day moving average is $18.24 and its 200-day moving average is $16.87. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.66 billion, a P/E ratio of 21.07 and a beta of 1.53. Plains GP has a twelve month low of $13.09 and a twelve month high of $19.77.

Plains GP (NYSE:PAGP) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Plains GP had a net margin of 0.35% and a return on equity of 1.15%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.88 billion. Equities research analysts forecast that Plains GP will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Plains GP

Several hedge funds have recently modified their holdings of the stock. Entropy Technologies LP grew its holdings in shares of Plains GP by 182.9% in the 1st quarter. Entropy Technologies LP now owns 72,875 shares of the pipeline company’s stock valued at $1,330,000 after acquiring an additional 47,115 shares in the last quarter. US Bancorp DE grew its holdings in shares of Plains GP by 6.7% in the 1st quarter. US Bancorp DE now owns 82,706 shares of the pipeline company’s stock valued at $1,509,000 after acquiring an additional 5,167 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Plains GP by 3.8% in the 1st quarter. Russell Investments Group Ltd. now owns 70,710 shares of the pipeline company’s stock valued at $1,290,000 after purchasing an additional 2,582 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Plains GP in the 1st quarter valued at about $284,000. Finally, PFG Advisors acquired a new stake in Plains GP in the 1st quarter valued at about $212,000. Institutional investors own 88.30% of the company’s stock.

About Plains GP

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.