Plains GP (NYSE:PAGP) Stock Rating Lowered 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 report issued on Wednesday.

Separately, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plains GP currently has an average rating of “Hold” and an average target price of $20.11.

Plains GP Stock Down 0.3 %

Shares of NYSE:PAGP traded down $0.06 during midday trading on Wednesday, hitting $18.17. 951,728 shares of the company’s stock were exchanged, compared to its average volume of 1,732,849. Plains GP has a 12 month low of $14.93 and a 12 month high of $20.10. The company has a market cap of $3.58 billion, a PE ratio of 20.65 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.90. The stock has a 50 day moving average price of $18.74 and a 200-day moving average price of $18.65.

Plains GP (NYSE:PAGP) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The company had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter in the prior year, the business earned $0.25 EPS. On average, sell-side analysts anticipate that Plains GP will post 1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Plains GP

Large investors have recently added to or reduced their stakes in the company. SL Advisors LLC lifted its holdings in shares of Plains GP by 3.3% in the third quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock worth $394,000 after buying an additional 679 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Plains GP by 0.9% during the 2nd quarter. NewEdge Advisors LLC now owns 74,783 shares of the pipeline company’s stock valued at $1,407,000 after acquiring an additional 681 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Plains GP by 4.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 755 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in Plains GP by 22.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,624 shares of the pipeline company’s stock valued at $87,000 after purchasing an additional 833 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in Plains GP by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 259,495 shares of the pipeline company’s stock worth $4,884,000 after buying an additional 959 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Company Profile

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.