Plains GP Holdings LP (NYSE:PAGP) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Monday, July 31st.
Several other equities research analysts have also weighed in on PAGP. Zacks Investment Research lowered Plains GP Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. Jefferies Group LLC lowered Plains GP Holdings from a “buy” rating to a “hold” rating and lifted their price target for the company from $12.00 to $27.00 in a research report on Friday, April 21st. Macquarie restated an “outperform” rating and set a $37.00 price target on shares of Plains GP Holdings in a research report on Friday, April 21st. Wolfe Research restated a “market perform” rating on shares of Plains GP Holdings in a research report on Friday, April 21st. Finally, Stifel Nicolaus dropped their price target on Plains GP Holdings from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, May 10th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $28.22.
Shares of Plains GP Holdings (PAGP) opened at 21.09 on Monday. Plains GP Holdings has a 52-week low of $14.44 and a 52-week high of $36.09. The company’s market cap is $3.23 billion. The company’s 50-day moving average is $25.83 and its 200 day moving average is $28.98.
Plains GP Holdings (NYSE:PAGP) last posted its earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Plains GP Holdings had a net margin of 2.86% and a return on equity of 3.72%. The business had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the firm posted $0.29 earnings per share. Plains GP Holdings’s quarterly revenue was up 22.8% on a year-over-year basis. On average, analysts anticipate that Plains GP Holdings will post $1.51 EPS for the current year.
In other news, Chairman Greg L. Armstrong acquired 50,000 shares of Plains GP Holdings stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $23.41 per share, for a total transaction of $1,170,500.00. Following the completion of the transaction, the chairman now owns 650,625 shares in the company, valued at $15,231,131.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Everardo Goyanes acquired 20,000 shares of Plains GP Holdings stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average price of $21.25 per share, with a total value of $425,000.00. Following the transaction, the director now owns 42,305 shares of the company’s stock, valued at approximately $898,981.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 120,000 shares of company stock worth $2,672,000. Corporate insiders own 39.93% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new stake in Plains GP Holdings during the second quarter worth approximately $103,000. Chicago Partners Investment Group LLC boosted its stake in Plains GP Holdings by 1.7% in the first quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the pipeline company’s stock worth $195,000 after buying an additional 103 shares during the period. Searle & CO. purchased a new stake in Plains GP Holdings during the second quarter worth approximately $209,000. Shell Asset Management Co. boosted its stake in Plains GP Holdings by 110.8% in the second quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock worth $209,000 after buying an additional 4,202 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Plains GP Holdings during the first quarter worth approximately $211,000. Institutional investors own 85.09% of the company’s stock.
About Plains GP Holdings
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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