Plains GP Holdings, L.P. (NYSE:PAGP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have earned a consensus rating of “Hold” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $19.88.

Several research firms recently commented on PAGP. Wells Fargo & Company downgraded Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Morgan Stanley lowered shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a report on Wednesday, September 18th.

Plains GP Price Performance

Plains GP stock opened at $18.52 on Wednesday. Plains GP has a 12 month low of $15.78 and a 12 month high of $20.10. The stock has a fifty day simple moving average of $18.62 and a two-hundred day simple moving average of $18.76. 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 firm has a market cap of $3.66 billion, a price-to-earnings ratio of 21.79 and a beta of 1.58.

Institutional Investors Weigh In On Plains GP

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Thompson Siegel & Walmsley LLC bought a new stake in Plains GP during the third quarter valued at about $13,848,000. Tortoise Capital Advisors L.L.C. grew its stake in shares of Plains GP by 6.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 11,666,947 shares of the pipeline company’s stock valued at $219,572,000 after acquiring an additional 703,158 shares during the period. Acadian Asset Management LLC purchased a new stake in Plains GP in the 2nd quarter worth approximately $11,442,000. Yaupon Capital Management LP bought a new stake in Plains GP during the 3rd quarter worth approximately $9,772,000. Finally, SIR Capital Management L.P. purchased a new position in Plains GP during the second quarter valued at approximately $8,849,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

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.