Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Plains GP Holdings, L.P. (NYSE:PAGP) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,635 shares of the pipeline company’s stock after buying an additional 3,582 shares during the quarter. Geode Capital Management LLC’s holdings in Plains GP were worth $2,898,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hara Capital LLC bought a new position in shares of Plains GP during the 3rd quarter valued at $57,000. Eastern Bank acquired a new position in Plains GP during the third quarter valued at approximately $76,000. Continuum Advisory LLC raised its position in shares of 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 during the period. Insigneo Advisory Services LLC acquired a new stake in shares of Plains GP in the third quarter worth $188,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Plains GP in the 3rd quarter valued at $200,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PAGP. Wolfe Research upgraded shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. StockNews.com raised Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Plains GP presently has a consensus rating of “Hold” and an average price target of $19.88.

Plains GP Price Performance

Shares of PAGP stock opened at $18.78 on Wednesday. The company has a market capitalization of $3.71 billion, a P/E ratio of 22.09 and a beta of 1.58. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $18.67 and a two-hundred day moving average of $18.78. Plains GP Holdings, L.P. has a 12 month low of $15.78 and a 12 month high of $20.10.

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.