Plains GP (NYSE:PAGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The firm currently has a $27.00 price objective on the pipeline company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.80% from the company’s current price.

According to Zacks, “Plains GP Holdings, L.P. operates as a holding company. The Company, through its subsidiaries, is involved in the transportation, storage, terminalling, and marketing of crude oil and refined products. It also focuses on the processing, transportation, fractionation, storage, and marketing of natural gas liquids, including ethane and natural gasoline products, as well as propane and butane products. Plains GP Holdings, L.P. is based in Houston, Texas. “

Several other equities research analysts have also issued reports on PAGP. Goldman Sachs Group raised Plains GP from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 2nd. Jefferies Financial Group raised Plains GP from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. ValuEngine raised Plains GP from a “strong sell” rating to a “sell” rating in a research report on Friday, December 21st. Evercore ISI began coverage on Plains GP in a research report on Tuesday, February 5th. They set a $24.00 price target on the stock. Finally, TheStreet raised Plains GP from a “c” rating to a “b-” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $28.57.

Plains GP stock opened at $24.15 on Thursday. The company has a market cap of $3.85 billion, a PE ratio of 11.45 and a beta of 1.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 0.84. Plains GP has a 52 week low of $19.17 and a 52 week high of $27.00.

Plains GP (NYSE:PAGP) last released its earnings results on Tuesday, February 5th. The pipeline company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.61. The company had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $10.52 billion. Plains GP had a return on equity of 2.64% and a net margin of 0.98%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted ($5.16) EPS. As a group, analysts forecast that Plains GP will post 1.54 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Great West Life Assurance Co. Can boosted its holdings in shares of Plains GP by 1.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 29,668 shares of the pipeline company’s stock valued at $566,000 after acquiring an additional 484 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Plains GP by 0.8% during the 3rd quarter. Legal & General Group Plc now owns 89,743 shares of the pipeline company’s stock valued at $2,201,000 after acquiring an additional 683 shares in the last quarter. Coe Capital Management LLC boosted its holdings in shares of Plains GP by 3.9% during the 3rd quarter. Coe Capital Management LLC now owns 26,330 shares of the pipeline company’s stock valued at $646,000 after acquiring an additional 985 shares in the last quarter. Mackay Shields LLC boosted its holdings in shares of Plains GP by 4.1% during the 4th quarter. Mackay Shields LLC now owns 30,800 shares of the pipeline company’s stock valued at $619,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Plains GP by 10.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,535 shares of the pipeline company’s stock valued at $292,000 after acquiring an additional 1,383 shares in the last quarter. 85.46% of the stock is currently owned by hedge funds and other institutional investors.

Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

Featured Story: How is a buy-side analyst different from a sell-side analyst?

Get a free copy of the Zacks research report on Plains GP (PAGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Plains GP (NYSE:PAGP)

Receive News & Ratings for Plains GP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains GP and related companies with MarketBeat.com's FREE daily email newsletter.