Deutsche Bank AG upgraded shares of Plains GP Holdings LP (NYSE:PAGP) from a hold rating to a buy rating in a research report released on Monday. The firm currently has $15.00 price objective on the stock, up from their prior price objective of $13.00.

A number of other equities research analysts also recently issued reports on PAGP. SunTrust Banks Inc. initiated coverage on Plains GP Holdings in a research note on Tuesday, June 14th. They set a neutral rating and a $12.00 price target for the company. Zacks Investment Research upgraded Plains GP Holdings from a hold rating to a buy rating and set a $11.00 price target for the company in a research note on Thursday, July 7th. Evercore ISI downgraded Plains GP Holdings from a buy rating to a hold rating and boosted their price target for the company from $9.00 to $10.00 in a research note on Thursday, July 7th. Barclays PLC downgraded Plains GP Holdings from an overweight rating to an equal weight rating and boosted their price target for the company from $8.00 to $11.00 in a research note on Friday, July 8th. Finally, Robert W. Baird upgraded Plains GP Holdings from an underperform rating to a neutral rating and boosted their price target for the company from $5.00 to $12.00 in a research note on Wednesday, July 13th. Eighteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Plains GP Holdings has a consensus rating of Hold and an average target price of $12.06.

Analyst Recommendations for Plains GP Holdings (NYSE:PAGP)

Shares of Plains GP Holdings (NYSE:PAGP) traded down 2.63% during trading on Monday, reaching $13.31. 72,698 shares of the company traded hands. Plains GP Holdings has a 12-month low of $4.72 and a 12-month high of $19.11. The company has a 50 day moving average price of $12.03 and a 200 day moving average price of $10.55. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 23.94 and a beta of 1.54.

Plains GP Holdings (NYSE:PAGP) last released its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.04. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.76 billion. Plains GP Holdings had a net margin of 0.69% and a return on equity of 1.36%. The company’s revenue for the quarter was down 25.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, equities analysts predict that Plains GP Holdings will post $0.83 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 31st will be given a dividend of $0.2065 per share. This represents a $0.83 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date is Thursday, October 27th. Plains GP Holdings’s payout ratio is currently 170.37%.

A number of large investors have recently modified their holdings of the stock. Iridian Asset Management LLC CT increased its stake in shares of Plains GP Holdings by 37,037.0% in the second quarter. Iridian Asset Management LLC CT now owns 9,009,443 shares of the company’s stock worth $93,968,000 after buying an additional 8,985,183 shares during the last quarter. Harvest Fund Advisors LLC increased its stake in shares of Plains GP Holdings by 69.6% in the second quarter. Harvest Fund Advisors LLC now owns 9,675,198 shares of the company’s stock worth $100,912,000 after buying an additional 3,970,603 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Plains GP Holdings by 567.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,971,352 shares of the company’s stock worth $34,511,000 after buying an additional 3,376,633 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Plains GP Holdings by 16.5% in the second quarter. Chickasaw Capital Management LLC now owns 21,045,691 shares of the company’s stock worth $219,507,000 after buying an additional 2,983,748 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Plains GP Holdings by 120.0% in the second quarter. JPMorgan Chase & Co. now owns 5,110,948 shares of the company’s stock worth $53,308,000 after buying an additional 2,788,013 shares during the last quarter. 76.78% of the stock is currently owned by institutional investors.

About Plains GP Holdings

Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products.

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