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

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been given an average recommendation of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $19.88.

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

Plains GP Stock Performance

Shares of Plains GP stock opened at $18.52 on Wednesday. The business has a 50-day simple moving average of $18.62 and a 200-day simple moving average of $18.76. 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 one year low of $15.78 and a one year high of $20.10. The company has a market cap of $3.66 billion, a PE ratio of 21.79 and a beta of 1.58.

Institutional Trading of Plains GP

A number of institutional investors have recently added to or reduced their stakes in PAGP. Thompson Siegel & Walmsley LLC acquired a new position in shares of Plains GP during the third quarter worth $13,848,000. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Plains GP by 6.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock worth $219,572,000 after acquiring an additional 703,158 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Plains GP during the 2nd quarter valued at approximately $11,442,000. Yaupon Capital Management LP purchased a new stake in Plains GP during the 3rd quarter worth approximately $9,772,000. Finally, SIR Capital Management L.P. acquired a new position in shares of Plains GP in the 2nd quarter valued at approximately $8,849,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.