Plains GP Holdings LP (PAGP) PT Raised to $14.00 at Howard Weil
Plains GP Holdings LP (NYSE:PAGP) had its target price hoisted by equities research analysts at Howard Weil from $10.00 to $14.00 in a research report issued on Monday. The firm currently has a “sector perform” rating on the stock. Howard Weil’s price target would indicate a potential upside of 3.63% from the company’s current price.
A number of other brokerages also recently commented on PAGP. Zacks Investment Research downgraded Plains GP Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Wunderlich reaffirmed a “hold” rating and set a $10.00 price target (up previously from $9.00) on shares of Plains GP Holdings in a report on Friday, July 15th. Deutsche Bank AG raised Plains GP Holdings from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $15.00 in a report on Monday. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $12.00 price target (up previously from $11.00) on shares of Plains GP Holdings in a report on Friday, July 15th. Finally, SunTrust Banks Inc. started coverage on Plains GP Holdings in a report on Tuesday, June 14th. They set a “neutral” rating and a $12.00 price target on the stock. Eighteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.06.
Shares of Plains GP Holdings (NYSE:PAGP) opened at 13.51 on Monday. Plains GP Holdings has a one year low of $4.72 and a one year high of $19.11. The firm’s 50-day moving average price is $12.09 and its 200-day moving average price is $10.57. The firm has a market cap of $3.61 billion, a PE ratio of 24.30 and a beta of 1.55.
Plains GP Holdings (NYSE:PAGP) last issued its earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.04. Plains GP Holdings had a net margin of 0.69% and a return on equity of 1.36%. The company earned $4.95 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was down 25.7% on a year-over-year basis. Equities research analysts expect that Plains GP Holdings will post $0.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be given a $0.2065 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.83 annualized dividend and a yield of 6.11%. Plains GP Holdings’s dividend payout ratio (DPR) is 170.37%.
A number of hedge funds and other institutional investors have recently bought and sold shares of PAGP. Oregon Public Employees Retirement Fund raised its position in Plains GP Holdings by 3.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 23,753 shares of the company’s stock valued at $307,000 after buying an additional 853 shares during the period. Macquarie Group Ltd. acquired a new position in Plains GP Holdings during the second quarter valued at about $795,000. Harbour Capital Advisors LLC acquired a new position in Plains GP Holdings during the second quarter valued at about $440,000. Harvest Fund Advisors LLC raised its position in 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 valued at $100,912,000 after buying an additional 3,970,603 shares during the period. Finally, Stifel Financial Corp raised its position in Plains GP Holdings by 4.7% in the second quarter. Stifel Financial Corp now owns 288,838 shares of the company’s stock valued at $3,013,000 after buying an additional 12,968 shares during the period. Hedge funds and other institutional investors own 76.78% of the company’s stock.
Plains GP Holdings Company Profile
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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