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

Plains GP (NYSE:PAGP) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other equities analysts also recently issued reports about the company. Barclays increased their target price on Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James upped their price target on shares of Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Friday, January 10th. Finally, Morgan Stanley boosted their price objective on shares of Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.00.

Plains GP Price Performance

Shares of PAGP stock traded up $0.06 on Tuesday, reaching $21.52. The company had a trading volume of 782,765 shares, compared to its average volume of 1,490,054. The business’s 50-day moving average is $21.27 and its 200 day moving average is $19.61. Plains GP has a one year low of $17.17 and a one year high of $22.31. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $4.26 billion, a PE ratio of 40.60 and a beta of 1.55.

Institutional Trading of Plains GP

A number of large investors have recently bought and sold shares of PAGP. Jones Financial Companies Lllp grew its stake in Plains GP by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 520 shares during the period. US Bancorp DE raised its position in shares of Plains GP by 0.7% in the fourth quarter. US Bancorp DE now owns 86,863 shares of the pipeline company’s stock worth $1,597,000 after buying an additional 598 shares in the last quarter. Continuum Advisory LLC raised its stake in Plains GP by 10.0% in the third quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after purchasing an additional 637 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Plains GP by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 59,998 shares of the pipeline company’s stock valued at $1,110,000 after purchasing an additional 729 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Plains GP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,634 shares of the pipeline company’s stock valued at $471,000 after buying an additional 748 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

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.