Plains GP (PAGP) Upgraded to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Plains GP (NYSE:PAGP) from a hold rating to a buy rating in a report published on Tuesday, MarketBeat reports. Stifel Nicolaus currently has $24.00 price target on the pipeline company’s stock.

Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Plains GP from a hold rating to a sell rating in a research note on Thursday, November 9th. Robert W. Baird set a $22.00 price target on shares of Plains GP and gave the stock a hold rating in a research note on Wednesday, February 7th. Barclays lowered shares of Plains GP from an overweight rating to an equal weight rating and set a $26.00 price objective for the company. in a research note on Wednesday, January 17th. Bank of America reduced their price objective on shares of Plains GP from $24.00 to $23.00 and set a neutral rating for the company in a research note on Thursday, February 8th. Finally, Credit Suisse Group initiated coverage on shares of Plains GP in a research note on Thursday, January 4th. They issued an outperform rating and a $25.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $26.00.

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Shares of Plains GP (NYSE PAGP) opened at $21.97 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.73 and a current ratio of 0.88. Plains GP has a one year low of $18.98 and a one year high of $32.24. The stock has a market cap of $6,340.00, a P/E ratio of 32.79 and a beta of 1.35.

Plains GP (NYSE:PAGP) last issued its quarterly earnings results on Tuesday, February 6th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.25). Plains GP had a positive return on equity of 0.73% and a negative net margin of 2.79%. The company had revenue of $7.61 billion for the quarter, compared to analysts’ expectations of $4.91 billion. research analysts expect that Plains GP will post 1.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.46%. Plains GP’s dividend payout ratio (DPR) is currently 179.10%.

In other news, Director Oscar K. Brown purchased 7,100 shares of Plains GP stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $22.51 per share, for a total transaction of $159,821.00. Following the transaction, the director now directly owns 7,100 shares of the company’s stock, valued at $159,821. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 39.93% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. grew its position in shares of Plains GP by 9.4% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,636,798 shares of the pipeline company’s stock valued at $167,017,000 after purchasing an additional 653,301 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of Plains GP by 16.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 5,682,584 shares of the pipeline company’s stock valued at $124,719,000 after purchasing an additional 802,067 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Plains GP by 65.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 3,357,606 shares of the pipeline company’s stock valued at $73,699,000 after purchasing an additional 1,324,404 shares in the last quarter. Atlantic Trust Group LLC grew its position in shares of Plains GP by 32.0% during the 3rd quarter. Atlantic Trust Group LLC now owns 2,935,457 shares of the pipeline company’s stock valued at $64,199,000 after purchasing an additional 711,518 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Plains GP by 15.5% during the 4th quarter. Millennium Management LLC now owns 2,789,044 shares of the pipeline company’s stock valued at $61,220,000 after purchasing an additional 373,946 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

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Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Analyst Recommendations for Plains GP (NYSE:PAGP)

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