Morgan Stanley analyst Tom Abrams maintained a Buy rating on Plains GP Holdings (PAGP) today and set a price target of $29. The company’s shares closed yesterday at $21.82.
According to TipRanks.com, Abrams is a 1-star analyst with an average return of -2.5% and a 48.1% success rate. Abrams covers the Basic Materials sector, focusing on stocks such as Oasis Midstream Partners Lp, Hess Midstream Partners Lp, and Dcp Midstream Partners Lp.
Currently, the analyst consensus on Plains GP Holdings is a Moderate Buy with an average price target of $28.
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Based on Plains GP Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $8.85 billion and net profit of $111 million. In comparison, last year the company earned revenue of $6.1 billion and had a net profit of $4 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PAGP in relation to earlier this year.
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Plains GP Holdings LP operates as a holding company. Its subsidiaries engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids. The company was founded in August 2007 and is headquartered in Houston, TX.
