Plains GP (NYSE:PAGP – Get Free Report) was upgraded by stock analysts at Wolfe Research to a “hold” rating in a report released on Wednesday, Zacks.com reports.
Other equities analysts also recently issued research reports about the company. Morgan Stanley upped their price target on Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.11.
Check Out Our Latest Research Report on Plains GP
Plains GP Stock Performance
Plains GP (NYSE:PAGP – Get Free Report) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.11). The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same period in the previous year, the company posted $0.25 earnings per share. On average, analysts forecast that Plains GP will post 1.24 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC acquired a new stake in Plains GP during the 2nd quarter valued at $44,000. Mather Group LLC. bought a new position in Plains GP in the 1st quarter valued at about $44,000. CWM LLC raised its holdings in Plains GP by 61.0% in the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 1,147 shares during the period. Hexagon Capital Partners LLC lifted its position in Plains GP by 35.9% during the first quarter. Hexagon Capital Partners LLC now owns 3,791 shares of the pipeline company’s stock worth $69,000 after acquiring an additional 1,001 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Plains GP during the second quarter worth approximately $70,000. 88.30% of the stock is currently owned by institutional investors.
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.
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