Plains GP (NYSE:PAGP) Hits New 1-Year High at $19.79

Plains GP Holdings, L.P. (NYSE:PAGP)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.79 and last traded at $19.76, with a volume of 322401 shares. The stock had previously closed at $19.44.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Scotiabank assumed coverage on Plains GP in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price on the stock. StockNews.com lowered Plains GP from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Citigroup upped their target price on Plains GP from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Stifel Nicolaus upped their target price on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley upped their target price on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Plains GP presently has an average rating of “Moderate Buy” and a consensus target price of $19.82.

Plains GP Stock Performance

The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 22.49 and a beta of 1.54. The stock has a fifty day moving average price of $18.23 and a 200 day moving average price of $17.52.

Plains GP (NYSE:PAGP) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The business had revenue of $12 billion during the quarter, compared to analyst estimates of $13.72 billion. Plains GP had a net margin of 0.35% and a return on equity of 1.15%. As a group, analysts predict that Plains GP Holdings, L.P. will post 1.01 earnings per share for the current year.

Institutional Trading of Plains GP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in Plains GP in the 1st quarter valued at approximately $44,000. Spire Wealth Management grew its holdings in Plains GP by 22.0% in the 1st quarter. Spire Wealth Management now owns 3,740 shares of the pipeline company’s stock valued at $68,000 after buying an additional 674 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Plains GP by 35.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock valued at $69,000 after buying an additional 1,001 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in Plains GP in the 4th quarter valued at approximately $73,000. Finally, General Partner Inc. acquired a new stake in Plains GP in the 1st quarter valued at approximately $100,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

About Plains GP

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.