Plains GP (NYSE:PAGP) Downgraded to “Hold” Rating by StockNews.com

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

A number of other analysts have also issued reports on the company. Raymond James boosted their price objective on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Barclays increased their price target on shares of Plains GP from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wolfe Research raised shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, January 10th. Finally, Morgan Stanley increased their price objective on Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.00.

Plains GP Trading Up 0.5 %

Shares of PAGP stock opened at $21.47 on Wednesday. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 40.51 and a beta of 1.55. The company’s fifty day simple moving average is $21.28 and its two-hundred day simple moving average is $19.72. Plains GP has a 1 year low of $17.17 and a 1 year high of $22.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92.

Hedge Funds Weigh In On Plains GP

A number of hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in shares of Plains GP by 61.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company’s stock valued at $25,000 after buying an additional 520 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Plains GP in the 4th quarter worth about $33,000. Farther Finance Advisors LLC boosted its holdings in Plains GP by 8,120.7% in the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company’s stock worth $44,000 after acquiring an additional 2,355 shares in the last quarter. Allworth Financial LP purchased a new stake in Plains GP during the 4th quarter valued at about $44,000. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Plains GP by 1,000.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,400 shares of the pipeline company’s stock valued at $81,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

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.