Plains GP (PAGP) Downgraded to Sell at ValuEngine

Plains GP (NYSE:PAGP) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Several other analysts also recently weighed in on the company. SunTrust Banks set a $24.00 price target on Plains GP and gave the stock a “hold” rating in a research note on Thursday, November 16th. BidaskClub upgraded Plains GP from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Stifel Nicolaus upped their price target on Plains GP from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Zacks Investment Research downgraded Plains GP from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Mizuho restated a “buy” rating and issued a $27.00 price target on shares of Plains GP in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $25.75.

Shares of Plains GP (PAGP) opened at $21.95 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.00 and a quick ratio of 0.78. The firm has a market capitalization of $3,398.80, a P/E ratio of 48.78 and a beta of 1.48. Plains GP has a 52 week low of $18.98 and a 52 week high of $35.58.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.20). The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Plains GP had a return on equity of 0.50% and a net margin of 0.25%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 EPS. analysts forecast that Plains GP will post 0.87 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. lifted its position in Plains GP by 9.4% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,636,798 shares of the pipeline company’s stock valued at $167,017,000 after acquiring an additional 653,301 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Plains GP by 15.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,132,617 shares of the pipeline company’s stock valued at $134,270,000 after acquiring an additional 701,120 shares in the last quarter. Atlantic Trust Group LLC lifted its position in Plains GP by 32.0% in the 3rd quarter. Atlantic Trust Group LLC now owns 2,935,457 shares of the pipeline company’s stock valued at $64,199,000 after acquiring an additional 711,518 shares in the last quarter. Voya Investment Management LLC lifted its position in Plains GP by 9.4% in the 2nd quarter. Voya Investment Management LLC now owns 2,607,899 shares of the pipeline company’s stock valued at $68,223,000 after acquiring an additional 224,501 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Plains GP by 4.7% during the 2nd quarter. State Street Corp now owns 1,729,564 shares of the pipeline company’s stock valued at $45,249,000 after buying an additional 77,866 shares during the period. 83.05% of the stock is currently owned by institutional investors and hedge funds.

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About Plains GP

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Analyst Recommendations for Plains GP (NYSE:PAGP)

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