Plains GP (NYSE:PAGP) Stock Price Expected to Rise, Mizuho Analyst Says

Plains GP (NYSE:PAGP) had its target price upped by equities researchers at Mizuho from $27.00 to $30.00 in a research note issued to investors on Monday, Marketbeat reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Mizuho’s price target suggests a potential upside of 11.65% from the company’s current price.

PAGP has been the topic of several other research reports. Barclays boosted their price target on shares of Plains GP from $23.00 to $24.00 and gave the company an “underweight” rating in a report on Monday. Truist Financial raised their price objective on shares of Plains GP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. US Capital Advisors lowered shares of Plains GP from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Zacks Research raised shares of Plains GP from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Citigroup increased their price target on shares of Plains GP from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Plains GP presently has an average rating of “Hold” and a consensus price target of $24.91.

Plains GP Price Performance

Shares of PAGP stock opened at $26.87 on Monday. Plains GP has a 12 month low of $16.68 and a 12 month high of $28.70. The company has a market capitalization of $5.32 billion, a P/E ratio of 50.70 and a beta of 0.48. The stock has a 50 day moving average of $26.73 and a two-hundred day moving average of $24.98. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Institutional Investors Weigh In On Plains GP

Large investors have recently made changes to their positions in the company. Energy Income Partners LLC lifted its holdings in Plains GP by 1.4% during the 1st quarter. Energy Income Partners LLC now owns 8,974,776 shares of the pipeline company’s stock valued at $217,908,000 after purchasing an additional 120,765 shares during the last quarter. Bank of America Corp DE grew its stake in Plains GP by 3.0% during the second quarter. Bank of America Corp DE now owns 3,865,600 shares of the pipeline company’s stock worth $93,818,000 after buying an additional 112,893 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Plains GP by 5.5% during the second quarter. Hsbc Holdings PLC now owns 2,854,795 shares of the pipeline company’s stock worth $69,291,000 after buying an additional 147,603 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of Plains GP by 25.8% during the first quarter. Miller Howard Investments Inc. NY now owns 1,421,518 shares of the pipeline company’s stock worth $34,514,000 after buying an additional 291,397 shares in the last quarter. Finally, Alps Advisors Inc. increased its holdings in shares of Plains GP by 1.5% during the fourth quarter. Alps Advisors Inc. now owns 1,223,144 shares of the pipeline company’s stock worth $23,411,000 after buying an additional 18,352 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Company Profile

Plains GP Holdings, L.P. (NYSE:PAGP) is a publicly traded holding company that owns interests in Plains All American Pipeline, L.P. (PAA), an energy infrastructure partnership. Plains GP Holdings generally conducts its activities through its ownership and governance interests in PAA rather than through a separate operating business.

Through PAA, the company is involved in the transportation, storage, gathering, terminaling and logistics of crude oil and natural gas liquids. Its infrastructure includes pipelines, storage facilities, gathering systems, rail and truck facilities, and export and terminal assets that support the movement of energy commodities from production areas to refineries, processing facilities and other markets.

Plains’ operations primarily serve the United States and Canada, with significant infrastructure in major North American crude oil and NGL producing and consuming regions.