Plains GP (NYSE:PAGP) Rating Increased to Buy at StockNews.com

Plains GP (NYSE:PAGP) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Other analysts also recently issued reports about the company. Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Wolfe Research upgraded Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.00.

Plains GP Stock Down 0.1 %

Shares of Plains GP stock opened at $17.66 on Thursday. The business has a 50-day moving average of $18.64 and a 200-day moving average of $18.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. The company has a market capitalization of $3.48 billion, a PE ratio of 21.28 and a beta of 1.53. Plains GP has a 1-year low of $14.93 and a 1-year high of $20.10.

Plains GP (NYSE:PAGP) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.11). The business had revenue of $12.93 billion for the quarter, compared to analyst estimates of $13.70 billion. Plains GP had a net margin of 0.33% and a return on equity of 1.09%. During the same quarter in the prior year, the business earned $0.25 earnings per share. As a group, equities analysts forecast that Plains GP will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains GP

Large investors have recently bought and sold shares of the business. ORG Partners LLC bought a new position in Plains GP in the second quarter worth about $44,000. CWM LLC lifted its holdings in Plains GP by 61.0% in the second quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 1,147 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in Plains GP in the second quarter worth about $70,000. Eastern Bank bought a new position in Plains GP in the third quarter worth about $76,000. Finally, Hexagon Capital Partners LLC lifted its holdings in Plains GP by 22.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock worth $87,000 after acquiring an additional 833 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Plains GP Company Profile

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.