Equities researchers at Barclays started coverage on shares of Plains GP (NYSE:PAGP) in a research note issued to investors on Monday, The Fly reports. The firm set an “equal weight” rating on the pipeline company’s stock.
A number of other analysts have also issued reports on PAGP. Zacks Investment Research raised Plains GP from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 3rd. Seaport Global Securities lowered Plains GP from a “buy” rating to a “neutral” rating in a research report on Friday, October 29th. Bank of America began coverage on Plains GP in a research report on Tuesday, September 28th. They issued an “underperform” rating on the stock. Seaport Res Ptn lowered Plains GP from a “buy” rating to a “neutral” rating in a research report on Thursday, October 28th. Finally, Seaport Research Partners lowered Plains GP from a “buy” rating to a “neutral” rating in a research report on Friday, October 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.86.
PAGP opened at $10.64 on Monday. Plains GP has a one year low of $7.84 and a one year high of $12.95. The stock has a market capitalization of $2.07 billion, a PE ratio of -48.36 and a beta of 2.08. The business’s 50 day moving average price is $11.08 and its 200 day moving average price is $10.97. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.90.
Plains GP (NYSE:PAGP) last released its quarterly earnings data on Tuesday, November 2nd. The pipeline company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.29). Plains GP had a negative net margin of 0.12% and a negative return on equity of 0.39%. During the same period last year, the firm earned $0.09 earnings per share. As a group, equities research analysts forecast that Plains GP will post 0.44 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. CM Management LLC boosted its position in Plains GP by 42.9% during the second quarter. CM Management LLC now owns 100,000 shares of the pipeline company’s stock worth $1,194,000 after acquiring an additional 30,000 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Plains GP by 9.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 32,134 shares of the pipeline company’s stock valued at $385,000 after purchasing an additional 2,765 shares during the last quarter. Vident Investment Advisory LLC lifted its holdings in shares of Plains GP by 9.7% during the 2nd quarter. Vident Investment Advisory LLC now owns 171,416 shares of the pipeline company’s stock valued at $2,047,000 after acquiring an additional 15,135 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Plains GP by 79.2% during the 2nd quarter. IFP Advisors Inc now owns 5,203 shares of the pipeline company’s stock valued at $61,000 after acquiring an additional 2,299 shares in the last quarter. Finally, Tuttle Tactical Management acquired a new position in shares of Plains GP during the 2nd quarter valued at $621,000. 82.57% of the stock is owned by institutional investors.
Plains GP Company Profile
Plains GP Holdings LP owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil, natural gas liquids and natural gas through its indirect investment in Plains All American Pipeline, L.P. The firm operates through the following segments: Transportation, Facilities and Supply and Logistics.