Plains GP (NYSE:PAGP) Upgraded by Wolfe Research to Outperform Rating

Plains GP (NYSE:PAGP) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports. The firm currently has a $22.00 price objective on the pipeline company’s stock. Wolfe Research’s price target points to a potential upside of 10.39% from the company’s current price.

A number of other analysts have also recently commented on the stock. Morgan Stanley cut shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Plains GP has an average rating of “Hold” and a consensus target price of $20.11.

Plains GP Trading Up 6.1 %

PAGP opened at $19.93 on Friday. 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 has a 52 week low of $15.78 and a 52 week high of $20.10. The stock has a market cap of $3.94 billion, a PE ratio of 23.45 and a beta of 1.58. The business has a 50 day moving average of $18.77 and a 200-day moving average of $18.80.

Institutional Investors Weigh In On Plains GP

Several institutional investors and hedge funds have recently made changes to their positions in PAGP. Continuum Advisory LLC lifted its position in Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after acquiring an additional 637 shares in the last quarter. SL Advisors LLC lifted its holdings 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 shares of Plains GP by 0.9% during the second quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock valued at $1,407,000 after purchasing an additional 681 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 worth $720,000 after buying an additional 717 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in Plains GP by 1.2% in the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock worth $1,110,000 after buying an additional 729 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

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.