Plains GP (NYSE:PAGP) Raised to “Buy” at StockNews.com

Plains GP (NYSE:PAGP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other equities analysts have also recently issued reports on PAGP. Morgan Stanley lifted their price target on Plains GP from $19.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 25th. Barclays reduced their price objective on Plains GP from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. Citigroup reduced their price objective on Plains GP from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, Raymond James raised their price objective on Plains GP from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.83.

Plains GP Stock Down 0.2%

Shares of PAGP stock opened at $18.41 on Friday. Plains GP has a 1 year low of $16.61 and a 1 year high of $22.31. The stock has a market cap of $3.64 billion, a PE ratio of 34.74 and a beta of 0.68. The business’s fifty day moving average is $19.37 and its 200-day moving average is $19.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01.

Institutional Trading of Plains GP

Several hedge funds and other institutional investors have recently modified their holdings of the business. McIlrath & Eck LLC boosted its position in shares of Plains GP by 18.4% in the first quarter. McIlrath & Eck LLC now owns 10,673 shares of the pipeline company’s stock worth $228,000 after buying an additional 1,657 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Plains GP by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 5,220,898 shares of the pipeline company’s stock worth $111,518,000 after buying an additional 29,911 shares during the period. Palo Duro Investment Partners LP boosted its position in shares of Plains GP by 14.2% in the first quarter. Palo Duro Investment Partners LP now owns 12,936 shares of the pipeline company’s stock worth $276,000 after buying an additional 1,608 shares during the period. NewEdge Advisors LLC boosted its position in shares of Plains GP by 1.9% in the first quarter. NewEdge Advisors LLC now owns 79,444 shares of the pipeline company’s stock worth $1,697,000 after buying an additional 1,444 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Plains GP by 17.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,559,937 shares of the pipeline company’s stock worth $54,680,000 after buying an additional 389,096 shares during the period. Institutional investors and hedge funds 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.