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 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.