Morgan Stanley Issues Positive Forecast for Plains GP (NYSE:PAGP) Stock Price

Plains GP (NYSE:PAGP) had its target price upped by Morgan Stanley from $19.00 to $23.00 in a report released on Tuesday morning, Marketbeat reports. Morgan Stanley currently has an equal weight rating on the pipeline company’s stock.

Several other equities analysts have also commented on PAGP. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Raymond James upped their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Barclays lifted their price objective on shares of Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.00.

Plains GP Stock Down 1.0 %

PAGP opened at $21.46 on Tuesday. The firm has a 50-day simple moving average of $21.29 and a two-hundred day simple moving average of $19.64. Plains GP has a 52 week low of $17.17 and a 52 week high of $22.31. The company has a market capitalization of $4.24 billion, a PE ratio of 40.49 and a beta of 1.55. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Plains GP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.08%. This is an increase from Plains GP’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains GP’s payout ratio is 286.79%.

Institutional Trading of Plains GP

A number of large investors have recently added to or reduced their stakes in PAGP. Jones Financial Companies Lllp raised its stake in Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 520 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Plains GP during the fourth quarter valued at $33,000. Allworth Financial LP acquired a new position in Plains GP during the fourth quarter valued at $44,000. Farther Finance Advisors LLC lifted its stake in Plains GP by 8,120.7% in the 4th quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its position in Plains GP by 1,000.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock worth $81,000 after acquiring an additional 4,000 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Plains GP Company Profile

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.