Plains GP (NYSE:PAGP) Stock Rating Lowered by StockNews.com

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

Separately, Wolfe Research upgraded shares of Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Plains GP presently has an average rating of “Hold” and an average target price of $20.11.

Plains GP Stock Performance

NYSE PAGP opened at $18.20 on Wednesday. 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 firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 21.93 and a beta of 1.53. The company’s fifty day moving average is $18.74 and its two-hundred day moving average is $18.65. Plains GP has a 52-week low of $14.93 and a 52-week high of $20.10.

Plains GP (NYSE:PAGP) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11). The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $13.70 billion. Plains GP had a return on equity of 1.09% and a net margin of 0.33%. During the same quarter in the prior year, the business earned $0.25 earnings per share. Equities research analysts forecast that Plains GP will post 1.19 EPS for the current year.

Hedge Funds Weigh In On Plains GP

Several institutional investors have recently added to or reduced their stakes in the company. SL Advisors LLC lifted its holdings in Plains GP by 3.3% during the 3rd quarter. SL Advisors LLC now owns 21,282 shares of the pipeline company’s stock valued at $394,000 after purchasing an additional 679 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in 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 purchasing an additional 681 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Plains GP by 1.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,898 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 717 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Plains GP by 4.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,975 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 755 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in Plains GP by 22.0% during the 2nd 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 during the last quarter. 88.30% of the stock is owned by 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.