Plains GP (NYSE:PAGP) Stock Price Expected to Rise, Barclays Analyst Says

Plains GP (NYSE:PAGP) had its price target raised by research analysts at Barclays from $18.00 to $19.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the pipeline company’s stock. Barclays‘s price target indicates a potential downside of 11.34% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.22.

Plains GP Stock Performance

Shares of PAGP stock opened at $21.43 on Thursday. The company has a market capitalization of $4.23 billion, a P/E ratio of 25.21 and a beta of 1.58. Plains GP has a fifty-two week low of $15.78 and a fifty-two week high of $21.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a 50 day moving average price of $19.08 and a two-hundred day moving average price of $18.89.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hara Capital LLC purchased a new stake in Plains GP in the third quarter worth $57,000. Eastern Bank bought a new stake in shares of Plains GP during the 3rd quarter valued at $76,000. Continuum Advisory LLC boosted its holdings in shares of Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after buying an additional 637 shares in the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of Plains GP in the 3rd quarter worth about $188,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Plains GP in the 3rd quarter worth about $200,000. 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.