Plains GP (NYSE:PAGP) Stock Rating Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Plains GP from “strong buy” to “hold,” while the broader analyst consensus is also “hold” with an average price target of $26.00.
• Analyst views remain mixed: several firms raised their price targets to $27–$30 and maintained buy or outperform ratings, while others rated the stock neutral or sell.
• Plains GP shares opened at $27.51, near their 52-week high of $28.70, and institutional investors own a substantial 88.3% of the company’s stock.

Plains GP (NYSE:PAGP - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

A number of other analysts also recently commented on the company. Truist Financial upped their target price on Plains GP from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. UBS Group upped their price target on shares of Plains GP from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, October 9th. Raymond James Financial restated a "strong-buy" rating and issued a $30.00 price objective on shares of Plains GP in a report on Monday. Mizuho upped their price target on Plains GP from $27.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, September 21st. Finally, Citigroup raised their price objective on shares of Plains GP from $23.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.00.

Plains GP Price Performance

Shares of NYSE PAGP opened at $27.51 on Monday. The business's 50 day moving average price is $27.06 and its 200 day moving average price is $25.39. The firm has a market cap of $5.44 billion, a P/E ratio of 51.91 and a beta of 0.54. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP has a 52 week low of $16.89 and a 52 week high of $28.70.

Institutional Trading of Plains GP

Several institutional investors and hedge funds have recently bought and sold shares of PAGP. Nisa Investment Advisors LLC lifted its position in Plains GP by 44.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,905 shares of the pipeline company's stock valued at $49,000 after purchasing an additional 584 shares during the period. CWA Asset Management Group LLC boosted its position in Plains GP by 5.3% during the third quarter. CWA Asset Management Group LLC now owns 175,929 shares of the pipeline company's stock worth $4,557,000 after purchasing an additional 8,880 shares in the last quarter. Ellsworth Advisors LLC grew its stake in Plains GP by 4.2% in the 3rd quarter. Ellsworth Advisors LLC now owns 85,996 shares of the pipeline company's stock valued at $2,227,000 after acquiring an additional 3,445 shares during the last quarter. HF Advisory Group LLC grew its position in shares of Plains GP by 3.3% in the third quarter. HF Advisory Group LLC now owns 218,815 shares of the pipeline company's stock valued at $5,667,000 after purchasing an additional 6,943 shares during the last quarter. Finally, Avaii Wealth Management LLC acquired a new stake in Plains GP during the 3rd quarter valued at $330,000. Hedge funds and other institutional investors own 88.30% of the company's stock.

About Plains GP

Plains GP Holdings, L.P. NYSE: PAGP is a publicly traded holding company that owns and controls the general partner of Plains All American Pipeline, L.P. Through this ownership interest, Plains GP Holdings is linked to the operations of one of North America's major midstream energy companies.

Plains All American Pipeline provides transportation, storage, terminalling, gathering, and other logistics services for crude oil and natural gas liquids. Its infrastructure includes pipelines, storage facilities, gathering systems, rail and truck terminals, and other assets used to move energy commodities from producing regions to refineries, processing facilities, and other markets.

The company's operations primarily serve customers in the United States and Canada, with activity concentrated in key oil- and liquids-producing regions and connected transportation corridors.

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