Plains GP (NYSE:PAGP – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.
Other research analysts also recently issued research reports about the stock. Citigroup upped their price objective on shares of Plains GP from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 17th. UBS Group increased their price objective on shares of Plains GP from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, October 9th. Barclays raised their price objective on Plains GP from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, September 21st. Morgan Stanley lifted their price target on Plains GP from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Plains GP from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.00.
Check Out Our Latest Research Report on Plains GP
Plains GP Price Performance
Shares of NYSE PAGP opened at $27.51 on Monday. The company’s 50-day moving average price is $27.06 and its 200 day moving average price is $25.39. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 51.91 and a beta of 0.54. Plains GP has a 52 week low of $16.89 and a 52 week high of $28.70. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.
Institutional Investors Weigh In On Plains GP
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its stake in shares of Plains GP by 44.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,905 shares of the pipeline company’s stock worth $49,000 after acquiring an additional 584 shares during the last quarter. Diesslin Group Inc. raised its holdings in Plains GP by 0.8% in the 2nd quarter. Diesslin Group Inc. now owns 82,841 shares of the pipeline company’s stock valued at $2,011,000 after acquiring an additional 664 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Plains GP by 5.9% during the first quarter. McIlrath & Eck LLC now owns 12,133 shares of the pipeline company’s stock valued at $295,000 after purchasing an additional 677 shares during the period. Quantinno Capital Management LP increased its position in shares of Plains GP by 1.8% during the first quarter. Quantinno Capital Management LP now owns 40,208 shares of the pipeline company’s stock valued at $976,000 after purchasing an additional 698 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Plains GP by 0.8% in the first quarter. NewEdge Advisors LLC now owns 107,504 shares of the pipeline company’s stock worth $2,610,000 after purchasing an additional 884 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.
Plains GP Company Profile
Plains GP Holdings, L.P. (NYSE:PAGP) is a publicly traded holding company that owns and controls the general partner of Plains All American Pipeline, L.P. Through this ownership interest, Plains GP Holdings is linked to the operations of one of North America’s major midstream energy companies.
Plains All American Pipeline provides transportation, storage, terminalling, gathering, and other logistics services for crude oil and natural gas liquids. Its infrastructure includes pipelines, storage facilities, gathering systems, rail and truck terminals, and other assets used to move energy commodities from producing regions to refineries, processing facilities, and other markets.
The company’s operations primarily serve customers in the United States and Canada, with activity concentrated in key oil- and liquids-producing regions and connected transportation corridors.
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