Plains GP (NYSE:PAGP) Price Target Cut to $18.00 by Analysts at Citigroup

Plains GP (NYSE:PAGP) had its price objective decreased by research analysts at Citigroup from $21.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the pipeline company’s stock. Citigroup’s price target suggests a potential downside of 3.38% from the company’s current price.

A number of other research analysts have also commented on the stock. Barclays cut their price objective on shares of Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. Morgan Stanley upped their target price on shares of Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Finally, Raymond James upped their target price on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.83.

Plains GP Stock Down 0.7%

Shares of PAGP opened at $18.63 on Tuesday. The company has a 50-day simple moving average of $19.46 and a 200-day simple moving average of $19.67. The firm has a market capitalization of $3.68 billion, a P/E ratio of 35.15 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP has a 52 week low of $16.61 and a 52 week high of $22.31.

Institutional Trading of Plains GP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its stake in Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock worth $25,000 after buying an additional 520 shares during the last quarter. Blue Trust Inc. grew its stake in Plains GP by 3.7% during the first quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company’s stock worth $328,000 after buying an additional 545 shares during the last quarter. US Bancorp DE grew its stake in Plains GP by 0.7% during the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock worth $1,597,000 after buying an additional 598 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock worth $471,000 after buying an additional 748 shares during the last quarter. Finally, ELCO Management Co. LLC grew its stake in Plains GP by 2.4% during the fourth quarter. ELCO Management Co. LLC now owns 33,954 shares of the pipeline company’s stock worth $624,000 after buying an additional 802 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

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.