Plains GP (NYSE:PAGP) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Thursday, Marketbeat Ratings reports.
A number of other brokerages have also recently issued reports on PAGP. Zacks Investment Research cut shares of Plains GP from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. TheStreet upgraded shares of Plains GP from a “c” rating to a “b-” rating in a research report on Friday, April 5th. Finally, ValuEngine upgraded shares of Plains GP from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $28.57.
Shares of NYSE PAGP opened at $24.23 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.02 and a quick ratio of 0.90. The firm has a market capitalization of $3.80 billion, a PE ratio of 11.48 and a beta of 1.14. Plains GP has a 1 year low of $19.17 and a 1 year high of $27.00.
In related news, insider Emg Investment, Llc sold 7,328,291 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total transaction of $169,283,522.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Everardo Goyanes sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $24.60, for a total transaction of $492,000.00. Following the transaction, the director now owns 32,305 shares of the company’s stock, valued at approximately $794,703. The disclosure for this sale can be found here. 16.31% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. bought a new stake in shares of Plains GP in the 1st quarter worth about $227,000. Clearbridge Investments LLC lifted its holdings in shares of Plains GP by 4.8% in the 1st quarter. Clearbridge Investments LLC now owns 2,895,781 shares of the pipeline company’s stock worth $72,163,000 after acquiring an additional 131,999 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in shares of Plains GP in the 1st quarter worth about $485,000. Advisory Services Network LLC lifted its holdings in shares of Plains GP by 38.3% in the 1st quarter. Advisory Services Network LLC now owns 26,192 shares of the pipeline company’s stock worth $653,000 after acquiring an additional 7,253 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Plains GP by 39.9% in the 1st quarter. Morgan Stanley now owns 1,768,064 shares of the pipeline company’s stock worth $44,060,000 after acquiring an additional 504,458 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.
Plains GP Company Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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