Plains GP (NYSE:PAGP) was upgraded by Morgan Stanley from an "underweight" rating to an "overweight" rating in a research report issued to clients and investors on Friday, Briefing.com reports.
Other research analysts have also issued research reports about the company. BofA Securities raised Plains GP from an "underperform" rating to a "buy" rating in a research report on Tuesday, July 21st. Raymond James raised their price objective on Plains GP from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, July 21st. ValuEngine lowered Plains GP from a "sell" rating to a "strong sell" rating in a research report on Monday, August 3rd. Finally, Zacks Investment Research lowered Plains GP from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. Plains GP has a consensus rating of "Hold" and an average price target of $11.25.
PAGP opened at $5.65 on Friday. The stock has a market cap of $1.04 billion, a PE ratio of -2.33 and a beta of 2.15. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average of $7.45 and a 200-day moving average of $8.22. Plains GP has a 52 week low of $3.04 and a 52 week high of $21.81.
Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.09 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.20 by ($0.11). Plains GP had a negative net margin of 1.57% and a positive return on equity of 12.00%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $8.74 billion. Equities analysts anticipate that Plains GP will post 8.22 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Chickasaw Capital Management LLC grew its holdings in shares of Plains GP by 2.5% in the second quarter. Chickasaw Capital Management LLC now owns 10,471,099 shares of the pipeline company's stock worth $93,193,000 after acquiring an additional 253,435 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Plains GP by 5.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,430,761 shares of the pipeline company's stock worth $41,687,000 after acquiring an additional 413,803 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Plains GP by 1.9% in the second quarter. Goldman Sachs Group Inc. now owns 7,092,304 shares of the pipeline company's stock worth $63,121,000 after acquiring an additional 135,591 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Plains GP by 15.3% in the first quarter. Mackenzie Financial Corp now owns 2,287,008 shares of the pipeline company's stock worth $12,830,000 after acquiring an additional 304,200 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Plains GP by 37.8% in the first quarter. Invesco Ltd. now owns 2,286,166 shares of the pipeline company's stock worth $12,826,000 after acquiring an additional 627,199 shares during the period. 80.84% of the stock is owned by institutional investors.
About Plains GP
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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8 Consumer Staples Stocks That Offer Good Value
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View the "8 Consumer Staples Stocks That Offer Good Value".