Stifel Nicolaus analyst Selman Akyol upgraded Plains GP Holdings (NYSE: PAGP) to Buy today and set a price target of $28. The company’s shares closed on Friday at $24.15.
According to TipRanks.com, Akyol is a 4-star analyst with an average return of 2.6% and a 58.3% success rate. Akyol covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Dcp Midstream Partners Lp, and Spectra Energy Partners.
Currently, the analyst consensus on Plains GP Holdings is a Strong Buy with an average price target of $29, implying a 20.1% upside from current levels. In a report issued on September 11, Merrill Lynch also upgraded the stock to Buy with a $30 price target.
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Based on Plains GP Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $8.43 billion and net profit of $7 million. In comparison, last year the company earned revenue of $5.98 billion and had a net profit of $24 million.
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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.
