Analysts Set Plains GP Holdings, L.P. (NYSE:PAGP) Price Target at $19.88

Plains GP Holdings, L.P. (NYSE:PAGP) has earned an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $19.88.

Several brokerages have issued reports on PAGP. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research raised Plains GP to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th.

Plains GP Stock Performance

Shares of Plains GP stock opened at $18.52 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP has a 1 year low of $15.78 and a 1 year high of $20.10. The firm’s 50-day simple moving average is $18.62 and its 200-day simple moving average is $18.76. The firm has a market cap of $3.66 billion, a PE ratio of 21.79 and a beta of 1.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Continuum Advisory LLC boosted its position in Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after acquiring an additional 637 shares during the period. SL Advisors LLC raised its stake in shares of Plains GP by 3.3% during the third quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock valued at $394,000 after purchasing an additional 679 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Plains GP by 0.9% in the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock worth $1,407,000 after purchasing an additional 681 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Plains GP by 1.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock valued at $720,000 after buying an additional 717 shares in the last quarter. Finally, Townsquare Capital LLC increased its stake in Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after buying an additional 729 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.

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.