Today: The Plains GP Holdings LP (PAGP) Upgraded at Deutsche Bank AG

The Plains GP Holdings LP (PAGP) Upgraded at Deutsche Bank AG

Deutsche Bank AG upgraded shares of Plains GP Holdings LP (NYSE:PAGP) from a hold rating to a buy rating in a research note published on Monday morning. They currently have $15.00 target price on the stock, up from their previous target price of $13.00.

PAGP has been the subject of several other research reports. SunTrust Banks Inc. started coverage on shares of Plains GP Holdings in a report on Tuesday, June 14th. They issued a neutral rating and a $12.00 target price for the company. Zacks Investment Research upgraded shares of Plains GP Holdings from a hold rating to a buy rating and set a $11.00 target price for the company in a report on Thursday, July 7th. Evercore ISI lowered shares of Plains GP Holdings from a buy rating to a hold rating and raised their target price for the stock from $9.00 to $10.00 in a report on Thursday, July 7th. Barclays PLC lowered shares of Plains GP Holdings from an overweight rating to an equal weight rating and raised their target price for the stock from $8.00 to $11.00 in a report on Friday, July 8th. Finally, Robert W. Baird upgraded shares of Plains GP Holdings from an underperform rating to a neutral rating and raised their target price for the stock from $5.00 to $12.00 in a report on Wednesday, July 13th. Eighteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $12.06.

Plains GP Holdings (NYSE:PAGP) opened at 13.47 on Monday. Plains GP Holdings has a 52-week low of $4.72 and a 52-week high of $19.11. The firm has a 50 day moving average of $12.15 and a 200-day moving average of $10.59. The stock has a market cap of $3.60 billion, a PE ratio of 24.23 and a beta of 1.55.

Plains GP Holdings (NYSE:PAGP) last released its quarterly earnings data on Monday, August 8th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the business earned $0.27 EPS. Plains GP Holdings’s revenue for the quarter was down 25.7% compared to the same quarter last year. Equities analysts anticipate that Plains GP Holdings will post $0.83 earnings per share for the current fiscal 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 issued a dividend of $0.2065 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.83 dividend on an annualized basis and a yield of 6.13%. Plains GP Holdings’s payout ratio is 170.37%.

A number of large investors have recently made changes to their positions in the stock. Seven Eight Capital LLC raised its stake in shares of Plains GP Holdings by 0.5% in the second quarter. Seven Eight Capital LLC now owns 42,949 shares of the company’s stock worth $448,000 after buying an additional 200 shares during the last quarter. LVW Advisors LLC raised its stake in shares of Plains GP Holdings by 0.5% in the second quarter. LVW Advisors LLC now owns 59,883 shares of the company’s stock worth $625,000 after buying an additional 308 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Plains GP Holdings by 2.1% in the second quarter. Chicago Partners Investment Group LLC now owns 21,244 shares of the company’s stock worth $222,000 after buying an additional 427 shares during the last quarter. Pinnacle Holdings LLC raised its stake in shares of Plains GP Holdings by 0.5% in the second quarter. Pinnacle Holdings LLC now owns 147,432 shares of the company’s stock worth $1,538,000 after buying an additional 730 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Plains GP Holdings by 5.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,755 shares of the company’s stock worth $174,000 after buying an additional 813 shares during the last quarter. Institutional investors own 76.78% of the company’s stock.

Plains GP Holdings Company Profile

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