Plains GP (NYSE:PAGP) was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, The Fly reports.
Several other research analysts also recently weighed in on PAGP. Zacks Investment Research upgraded Plains GP from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 24th. BidaskClub upgraded Plains GP from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. Stifel Nicolaus boosted their price target on Plains GP from $21.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. ValuEngine downgraded Plains GP from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Finally, SunTrust Banks set a $24.00 price target on Plains GP and gave the company a “hold” rating in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Plains GP presently has a consensus rating of “Hold” and a consensus price target of $25.88.
Plains GP (PAGP) opened at $22.11 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $3,423.58, a price-to-earnings ratio of -4.78 and a beta of 1.39. Plains GP has a twelve month low of $18.98 and a twelve month high of $33.66.
Plains GP (NYSE:PAGP) last issued its quarterly earnings results on Tuesday, February 6th. The pipeline company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.25). The business had revenue of $7.61 billion during the quarter, compared to analyst estimates of $4.91 billion. Plains GP had a negative net margin of 2.79% and a positive return on equity of 0.73%. equities research analysts anticipate that Plains GP will post 1.56 earnings per share for the current fiscal year.
In other Plains GP news, Director Oscar K. Brown purchased 7,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $22.51 per share, with a total value of $159,821.00. Following the transaction, the director now owns 7,100 shares in the company, valued at $159,821. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 39.93% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in Plains GP by 11.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 428 shares during the period. HighTower Advisors LLC boosted its position in Plains GP by 13.9% during the 2nd quarter. HighTower Advisors LLC now owns 8,621 shares of the pipeline company’s stock worth $225,000 after purchasing an additional 1,050 shares during the period. Alliancebernstein L.P. boosted its position in Plains GP by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 32,096 shares of the pipeline company’s stock worth $840,000 after purchasing an additional 1,277 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Plains GP by 5.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 33,047 shares of the pipeline company’s stock worth $865,000 after purchasing an additional 1,830 shares during the period. Finally, Toronto Dominion Bank boosted its position in Plains GP by 40.6% during the 4th quarter. Toronto Dominion Bank now owns 8,593 shares of the pipeline company’s stock worth $188,000 after purchasing an additional 2,483 shares during the period. 84.81% of the stock is owned by hedge funds and other institutional investors.
About Plains GP
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.
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