Plains GP (NYSE:PAGP) Lowered to “Hold” at StockNews.com

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

Separately, Wolfe Research raised shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Plains GP currently has a consensus rating of “Hold” and a consensus target price of $20.11.

Plains GP Trading Up 0.2 %

PAGP opened at $18.20 on Wednesday. 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 cap of $3.59 billion, a price-to-earnings ratio of 21.93 and a beta of 1.53. The firm has a 50 day simple moving average of $18.74 and a 200 day simple moving average of $18.65. Plains GP has a fifty-two week low of $14.93 and a fifty-two week high of $20.10.

Plains GP (NYSE:PAGP) last posted its quarterly 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 business had revenue of $12.93 billion for the quarter, compared to the consensus estimate 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 last year, the firm earned $0.25 earnings per share. On average, sell-side analysts anticipate that Plains GP will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PAGP. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Plains GP in the first quarter valued at approximately $697,000. Hennessy Advisors Inc. boosted its holdings in Plains GP by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,543,100 shares of the pipeline company’s stock worth $28,162,000 after purchasing an additional 190,700 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings 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 purchasing an additional 1,001 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Plains GP by 3,286.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,350 shares of the pipeline company’s stock worth $408,000 after purchasing an additional 21,690 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC acquired a new position in Plains GP during the first quarter worth $530,000. 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.