Plains GP Holdings Given Consensus Recommendation of “Buy” by Brokerages (NASDAQ:PAGP)

Shares of Plains GP Holdings (NASDAQ:PAGP) have received a consensus rating of “Buy” from the seventeen analysts that are currently covering the stock, Stock Ratings News reports. Seven research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $31.31.

Several analysts have recently commented on the stock. Analysts at Credit Suisse upgraded shares of Plains GP Holdings from a “neutral” rating to an “outperform” rating in a research note on Friday, November 7th. They now have a $35.00 price target on the stock, up previously from $33.00. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Plains GP Holdings in a research note on Friday, November 7th. They now have a $31.00 price target on the stock, down previously from $32.00. Finally, analysts at Robert W. Baird upgraded shares of Plains GP Holdings from a “neutral” rating to an “outperform” rating in a research note on Tuesday, October 14th. They now have a $32.00 price target on the stock.

In other Plains GP Holdings news, Director John T. Raymond purchased 100,000 shares of the stock on the open market in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $25.00 per share, with a total value of $2,500,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Plains GP Holdings (NASDAQ:PAGP) traded down 0.33% during mid-day trading on Friday, hitting $27.38. The stock had a trading volume of 164,904 shares. Plains GP Holdings has a 52 week low of $22.87 and a 52 week high of $32.58. The stock’s 50-day moving average is $27.43 and its 200-day moving average is $29.23. The company has a market cap of $3.725 billion and a P/E ratio of 69.19.

Plains GP Holdings (NASDAQ:PAGP) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.45. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that Plains GP Holdings will post $0.46 EPS for the current fiscal year.

Plains GP Holdings, L.P has direct and indirect partnership interests in Plains All American Pipeline, L.

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