A number of other research analysts also recently commented on PAGP. Wolfe Research raised Plains GP from a “peer perform” rating to an “outperform” rating in a research note on Thursday, June 13th. Zacks Investment Research downgraded Plains GP from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Scotiabank initiated coverage on Plains GP in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 price target for the company. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $26.83.
PAGP stock opened at $19.90 on Thursday. The company has a market cap of $3.32 billion, a PE ratio of 9.43 and a beta of 1.17. The business has a 50-day simple moving average of $21.62 and a 200 day simple moving average of $23.50. Plains GP has a 52 week low of $19.17 and a 52 week high of $25.82. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.67.
Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.08. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $7.87 billion. Plains GP had a return on equity of 3.71% and a net margin of 1.47%. Plains GP’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. On average, analysts anticipate that Plains GP will post 2.5 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC bought a new position in Plains GP in the second quarter valued at about $38,000. Steward Partners Investment Advisory LLC bought a new position in Plains GP in the second quarter valued at about $42,000. Cerebellum GP LLC bought a new position in Plains GP in the third quarter valued at about $72,000. Advisor Group Inc. grew its position in Plains GP by 107.1% in the second quarter. Advisor Group Inc. now owns 4,738 shares of the pipeline company’s stock valued at $118,000 after acquiring an additional 2,450 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in Plains GP by 236.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,741 shares of the pipeline company’s stock valued at $119,000 after acquiring an additional 3,330 shares during the last quarter. Hedge funds and other institutional investors own 87.09% 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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