Bank of America initiated coverage on shares of Plains GP (NYSE:PAGP) in a research report issued on Tuesday, January 9th, The Fly reports. The firm set a “neutral” rating on the pipeline company’s stock.
Other equities analysts also recently issued research reports about the company. BMO Capital Markets set a $25.00 target price on Plains GP and gave the stock a “buy” rating in a research note on Tuesday, October 17th. ValuEngine cut shares of Plains GP from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. BidaskClub cut shares of Plains GP from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Stifel Nicolaus boosted their target price on shares of Plains GP from $21.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Finally, Barclays reissued a “buy” rating and set a $26.00 target price on shares of Plains GP in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.71.
Plains GP (PAGP) opened at $21.20 on Tuesday. The stock has a market capitalization of $6,120.00, a price-to-earnings ratio of 48.18 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 0.84. Plains GP has a 12-month low of $18.98 and a 12-month high of $34.63.
Plains GP (NYSE:PAGP) last released its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.71 billion. Plains GP had a net margin of 0.25% and a return on equity of 0.50%. Plains GP’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. equities research analysts anticipate that Plains GP will post 0.87 earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Plains GP by 17.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 234,633 shares of the pipeline company’s stock valued at $5,150,000 after buying an additional 35,557 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Plains GP by 59.6% in the fourth quarter. Bessemer Group Inc. now owns 76,008 shares of the pipeline company’s stock worth $1,669,000 after purchasing an additional 28,378 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Plains GP by 305.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 44,066 shares of the pipeline company’s stock worth $967,000 after purchasing an additional 33,196 shares during the last quarter. Jennison Associates LLC purchased a new stake in Plains GP in the fourth quarter worth approximately $2,057,000. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Plains GP by 1,378.3% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 161,228 shares of the pipeline company’s stock worth $3,538,000 after purchasing an additional 150,322 shares during the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.
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About Plains GP
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.
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