Barclays downgraded shares of Plains GP (NYSE:PAGP) from an overweight rating to an equal weight rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has $26.00 price target on the pipeline company’s stock.

A number of other brokerages have also commented on PAGP. Zacks Investment Research raised Plains GP from a hold rating to a buy rating and set a $23.00 price target for the company in a research note on Tuesday, October 24th. Seaport Global Securities assumed coverage on Plains GP in a research note on Tuesday, October 10th. They issued a neutral rating and a $23.00 price objective for the company. ValuEngine raised Plains GP from a sell rating to a hold rating in a research note on Thursday, October 5th. BidaskClub lowered Plains GP from a hold rating to a sell rating in a research note on Tuesday, October 3rd. Finally, Robert W. Baird set a $20.00 price objective on Plains GP and gave the company a hold rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $25.71.

Shares of Plains GP (NYSE PAGP) traded up $0.05 during trading on Wednesday, reaching $22.78. The company had a trading volume of 1,312,676 shares, compared to its average volume of 1,028,847. Plains GP has a 52 week low of $18.98 and a 52 week high of $34.63. The company has a market capitalization of $3,527.32, a price-to-earnings ratio of 50.62 and a beta of 1.48. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.78 and a current ratio of 1.00.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). Plains GP had a net margin of 0.25% and a return on equity of 0.50%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the company posted $0.39 earnings per share. Plains GP’s quarterly revenue was up 13.6% on a year-over-year basis. sell-side analysts predict that Plains GP will post 0.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Tuesday, January 30th. Plains GP’s payout ratio is 266.67%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Plains GP by 71.7% in the third quarter. Bessemer Group Inc. now owns 47,630 shares of the pipeline company’s stock worth $1,042,000 after buying an additional 19,882 shares during the period. Swiss National Bank raised its holdings in shares of Plains GP by 6.3% in the third quarter. Swiss National Bank now owns 533,315 shares of the pipeline company’s stock worth $11,664,000 after buying an additional 31,700 shares during the period. OxFORD Asset Management LLP raised its holdings in shares of Plains GP by 14.6% in the third quarter. OxFORD Asset Management LLP now owns 64,645 shares of the pipeline company’s stock worth $1,413,000 after buying an additional 8,212 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Plains GP by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 69,788 shares of the pipeline company’s stock worth $1,826,000 after buying an additional 3,541 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Plains GP in the third quarter worth approximately $238,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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About Plains GP

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Analyst Recommendations for Plains GP (NYSE:PAGP)

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