Plains GP (NYSE:PAGP) Given New $25.00 Price Target at Truist Financial

Plains GP (NYSE:PAGP) had its target price increased by equities researchers at Truist Financial from $23.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. Truist Financial’s price objective points to a potential downside of 1.22% from the stock’s current price.

PAGP has been the subject of several other reports. Mizuho boosted their target price on Plains GP from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Barclays lifted their price objective on shares of Plains GP from $18.00 to $21.00 and gave the stock an “underweight” rating in a research note on Friday, April 10th. Citigroup boosted their price objective on shares of Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. The Goldman Sachs Group raised shares of Plains GP from a “sell” rating to a “neutral” rating and upped their target price for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Finally, US Capital Advisors lowered shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.18.

Plains GP Stock Up 0.3%

NYSE:PAGP opened at $25.31 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP has a 12-month low of $16.68 and a 12-month high of $26.15. The stock’s fifty day simple moving average is $24.37 and its 200-day simple moving average is $22.87. The firm has a market capitalization of $5.01 billion, a P/E ratio of 47.76 and a beta of 0.45.

Institutional Trading of Plains GP

A number of large investors have recently bought and sold shares of PAGP. Larson Financial Group LLC acquired a new position in shares of Plains GP in the third quarter valued at approximately $46,000. North Star Investment Management Corp. acquired a new stake in shares of Plains GP during the first quarter worth $56,000. Lazard Asset Management LLC lifted its position in Plains GP by 36.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,030 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 811 shares in the last quarter. O Domhnaill Enterprises Inc. bought a new stake in Plains GP in the 1st quarter valued at $66,000. Finally, Virtus Advisers LLC boosted its stake in Plains GP by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 5,859 shares of the pipeline company’s stock worth $112,000 after purchasing an additional 1,859 shares during the period. 88.30% of the stock is owned by institutional investors.

Plains GP Company Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.