Citigroup Raises Plains GP (NYSE:PAGP) Price Target to $18.00

Plains GP (NYSE:PAGP) had its price target lifted by equities researchers at Citigroup from $17.50 to $18.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the pipeline company’s stock. Citigroup’s price target would indicate a potential downside of 1.15% from the company’s current price.

PAGP has been the topic of several other reports. UBS Group increased their price objective on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 12th. The Goldman Sachs Group increased their price objective on shares of Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Scotiabank began coverage on shares of Plains GP in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price for the company. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Finally, Barclays increased their target price on shares of Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

Plains GP Trading Down 1.0 %

Shares of PAGP stock traded down $0.19 during trading hours on Monday, hitting $18.21. The company had a trading volume of 954,417 shares, compared to its average volume of 2,221,240. Plains GP has a fifty-two week low of $13.09 and a fifty-two week high of $19.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87. The company’s fifty day moving average is $18.13 and its 200 day moving average is $16.81. The stock has a market capitalization of $3.59 billion, a PE ratio of 20.65 and a beta of 1.53.

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

Hedge Funds Weigh In On Plains GP

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of Plains GP in the first quarter worth $44,000. Spire Wealth Management increased its holdings in Plains GP by 63.2% in the 3rd quarter. Spire Wealth Management now owns 2,538 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 983 shares in the last quarter. Rational Advisors LLC purchased a new position in Plains GP in the third quarter valued at about $43,000. Allworth Financial LP purchased a new stake in shares of Plains GP in the third quarter worth about $48,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Plains GP by 95.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,475 shares of the pipeline company’s stock valued at $56,000 after buying an additional 1,697 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

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.