Plains GP (NYSE:PAGP) Stock Rating Upgraded by StockNews.com

Plains GP (NYSE:PAGP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other analysts have also recently commented on PAGP. Barclays boosted their target price on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Raymond James boosted their price objective on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley raised their target price on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock 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 reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.00.

Plains GP Price Performance

Shares of NYSE PAGP opened at $21.68 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a fifty day moving average of $21.29 and a 200 day moving average of $19.63. The firm has a market cap of $4.29 billion, a PE ratio of 40.91 and a beta of 1.55. Plains GP has a one year low of $17.17 and a one year high of $22.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Aegis Wealth Management LLC purchased a new position in Plains GP during the fourth quarter worth about $310,000. McIlrath & Eck LLC purchased a new stake in shares of Plains GP during the 4th quarter valued at approximately $166,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Plains GP by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,072 shares of the pipeline company’s stock valued at $7,794,000 after acquiring an additional 1,997 shares during the last quarter. Vident Advisory LLC purchased a new position in Plains GP in the fourth quarter worth approximately $1,751,000. Finally, Two Sigma Advisers LP increased its stake in Plains GP by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 4,004,900 shares of the pipeline company’s stock worth $73,610,000 after acquiring an additional 19,900 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

About Plains GP

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.