Plains GP (NYSE:PAGP) Upgraded at StockNews.com

StockNews.com upgraded shares of Plains GP (NYSE:PAGP) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other analysts have also recently weighed in on the stock. Barclays raised their price objective on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Morgan Stanley lifted their price target on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday. Raymond James raised their price objective on shares of Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company downgraded 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 research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains GP has an average rating of “Hold” and a consensus target price of $21.00.

Plains GP Stock Down 1.0 %

NYSE PAGP opened at $21.46 on Tuesday. The business’s fifty day simple moving average is $21.29 and its 200-day simple moving average is $19.64. The firm has a market cap 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 has a 52 week low of $17.17 and a 52 week high of $22.31.

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 issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.08%. The ex-dividend date was Friday, January 31st. This is an increase from Plains GP’s previous quarterly dividend of $0.32. Plains GP’s dividend payout ratio (DPR) is 286.79%.

Hedge Funds Weigh In On Plains GP

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in Plains GP by 61.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after buying an additional 520 shares during the period. US Bancorp DE increased its stake in shares of Plains GP by 0.7% in the 4th quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock valued at $1,597,000 after buying an additional 598 shares during the period. Continuum Advisory LLC raised its holdings in Plains GP by 10.0% during the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock worth $127,000 after purchasing an additional 637 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Plains GP by 1.2% in the third quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after buying an additional 729 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Plains GP by 3.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock worth $471,000 after purchasing an additional 748 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.