Plains GP (NYSE:PAGP) Given New $20.00 Price Target at Wells Fargo & Company

Plains GP (NYSE:PAGP) had its price target increased by Wells Fargo & Company from $19.00 to $20.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the pipeline company’s stock.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group increased their target price on shares of Plains GP from $14.50 to $16.00 and gave the company a sell rating in a report on Friday, April 12th. Scotiabank initiated coverage on shares of Plains GP in a report on Monday, April 8th. They issued a sector outperform rating and a $23.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Plains GP from $18.00 to $22.00 and gave the stock a buy rating in a report on Tuesday, April 16th. UBS Group raised their price target on shares of Plains GP from $22.00 to $23.00 and gave the stock a buy rating in a report on Friday, April 12th. Finally, Citigroup raised their price target on shares of Plains GP from $17.50 to $18.00 and gave the stock a neutral rating in a report on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Plains GP has a consensus rating of Moderate Buy and an average price target of $19.64.

Plains GP Trading Up 0.1 %

Shares of Plains GP stock traded up $0.02 during trading on Wednesday, hitting $18.54. The company’s stock had a trading volume of 1,985,058 shares, compared to its average volume of 2,266,848. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87. Plains GP has a 52 week low of $13.09 and a 52 week high of $19.77. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 21.09 and a beta of 1.53. The stock has a 50-day moving average price of $18.21 and a two-hundred day moving average price of $16.85.

Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a net margin of 0.35% and a return on equity of 1.15%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. Equities research analysts anticipate that Plains GP will post 1.05 EPS for the current fiscal year.

Plains GP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 6.85%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains GP’s dividend payout ratio (DPR) is presently 144.32%.

Institutional Investors Weigh In On Plains GP

A number of hedge funds have recently bought and sold shares of PAGP. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Plains GP by 9.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 57,624 shares of the pipeline company’s stock worth $929,000 after purchasing an additional 5,185 shares during the last quarter. Raymond James & Associates lifted its position in shares of Plains GP by 1.7% during the third quarter. Raymond James & Associates now owns 103,779 shares of the pipeline company’s stock worth $1,673,000 after purchasing an additional 1,760 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Plains GP by 2.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 126,694 shares of the pipeline company’s stock worth $2,042,000 after purchasing an additional 3,337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Plains GP by 31.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,967 shares of the pipeline company’s stock worth $725,000 after purchasing an additional 10,838 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its position in shares of Plains GP by 72.2% during the third quarter. Angeles Wealth Management LLC now owns 39,649 shares of the pipeline company’s stock worth $639,000 after purchasing an additional 16,620 shares in the last quarter. Hedge funds and other institutional investors 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.