Plains GP (NYSE:PAGP) was upgraded by research analysts at US Capital Advisors from a “hold” rating to an “overweight” rating in a research report issued to clients and investors on Friday, August 24th, The Fly reports. The firm currently has a $30.00 price target on the pipeline company’s stock. US Capital Advisors’ target price would indicate a potential upside of 21.75% from the stock’s current price.

A number of other research firms also recently commented on PAGP. JPMorgan Chase & Co. upped their price objective on shares of Plains GP from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. Scotiabank reaffirmed a “hold” rating and set a $30.00 price objective on shares of Plains GP in a research note on Monday, August 20th. Zacks Investment Research upgraded Plains GP from a “strong sell” rating to a “hold” rating in a report on Friday, August 10th. SunTrust Banks set a $29.00 target price on Plains GP and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, ValuEngine upgraded Plains GP from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Plains GP has an average rating of “Hold” and a consensus target price of $27.73.

Shares of Plains GP stock traded down $0.18 on Friday, hitting $24.64. The company’s stock had a trading volume of 1,531,457 shares, compared to its average volume of 1,336,967. Plains GP has a 52-week low of $18.98 and a 52-week high of $27.00. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.94 billion, a PE ratio of 37.91 and a beta of 1.25.

Plains GP (NYSE:PAGP) last released its quarterly earnings data on Tuesday, August 7th. The pipeline company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). Plains GP had a positive return on equity of 0.57% and a negative net margin of 2.51%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.71 billion. research analysts expect that Plains GP will post 1.1 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of PAGP. Icon Wealth Partners LLC increased its holdings in shares of Plains GP by 50.4% during the second quarter. Icon Wealth Partners LLC now owns 7,093 shares of the pipeline company’s stock valued at $170,000 after purchasing an additional 2,378 shares during the period. Russell Investments Group Ltd. bought a new position in Plains GP during the second quarter valued at about $175,000. Linscomb & Williams Inc. bought a new position in Plains GP during the second quarter valued at about $179,000. MHI Funds LLC bought a new position in Plains GP during the second quarter valued at about $208,000. Finally, Mackay Shields LLC bought a new position in Plains GP during the second quarter valued at about $227,000. 89.45% of the stock is currently owned by institutional investors.

About Plains GP

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

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Analyst Recommendations for Plains GP (NYSE:PAGP)

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