UPDATE: Stifel Reiterates On Plains GP Holdings LP As DPU Growth Continues
In a report published Friday, Stifel analyst Selman Akyol reiterated a Buy rating on Plains GP Holdings LP (NYSE: PAGP), but lowered the price target from $32.00 to $31.00.
In the report, Stifel noted, “We remind investors Plains GP Holdings (PAGP, Buy, $26.22) is the general partner of Plains All American Pipeline LP (PAA, Buy, $52.43) and it does not own and operate any assets. Instead, PAGP receives cash flows from its 2% general partner interest and 100% of the incentive distribution rights (IDRs) from PAA. We continue to believe investors seeking MLP related income, high dividend growth, and desire to receive a Form 1099 would be well received to own PAGP. At this time, we are maintaining our Buy rating and lowering our target price to $31.00 from $32.00.”
Plains GP Holdings LP closed on Thursday at $26.22.
Latest Ratings for PAGP
Nov 2014 | Stifel Nicolaus | Maintains | Buy | |
Oct 2014 | Baird | Upgrades | Neutral | Outperform |
Oct 2014 | JP Morgan | Maintains | Overweight |
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