Mizuho Issues Pessimistic Forecast for Plains GP (NYSE:PAGP) Stock Price

Plains GP (NYSE:PAGP) had its target price reduced by analysts at Mizuho from $21.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the pipeline company’s stock. Mizuho’s price target suggests a potential upside of 12.61% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Barclays cut their price target on Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. Raymond James boosted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Morgan Stanley boosted their price objective on shares of Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 25th. Finally, Citigroup lowered their price objective on shares of Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.71.

Plains GP Trading Down 1.8%

Shares of PAGP stock opened at $17.76 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.51 billion, a P/E ratio of 33.51 and a beta of 0.68. The stock has a 50 day simple moving average of $19.19 and a 200 day simple moving average of $19.69. Plains GP has a 1 year low of $16.61 and a 1 year high of $22.31.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Plains GP by 8.0% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock worth $229,989,000 after buying an additional 927,855 shares in the last quarter. Energy Income Partners LLC increased its holdings in shares of Plains GP by 2.0% during the first quarter. Energy Income Partners LLC now owns 10,177,085 shares of the pipeline company’s stock worth $217,383,000 after buying an additional 203,638 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Plains GP by 11.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock worth $113,077,000 after buying an additional 646,130 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Plains GP by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company’s stock worth $111,518,000 after buying an additional 29,911 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Plains GP by 42.9% during the first quarter. Invesco Ltd. now owns 4,190,610 shares of the pipeline company’s stock worth $89,511,000 after buying an additional 1,258,315 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

Plains GP Company Profile

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.