Plains GP (NYSE:PAGP) Raised to “Buy” at StockNews.com

Plains GP (NYSE:PAGPGet Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

PAGP has been the topic of a number of other research reports. Wolfe Research upgraded Plains GP to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley downgraded Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Plains GP presently has an average rating of “Hold” and an average price target of $19.88.

View Our Latest Stock Analysis on PAGP

Plains GP Trading Up 2.6 %

Shares of NYSE PAGP opened at $18.82 on Friday. The business has a 50 day simple moving average of $18.52 and a 200 day simple moving average of $18.58. Plains GP has a 52 week low of $14.93 and a 52 week high of $20.10. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 22.67 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.00.

Institutional Investors Weigh In On Plains GP

Hedge funds have recently modified their holdings of the business. Linscomb Wealth Inc. lifted its position in Plains GP by 19.4% in the third quarter. Linscomb Wealth Inc. now owns 313,100 shares of the pipeline company’s stock worth $5,792,000 after purchasing an additional 50,859 shares during the period. Entropy Technologies LP lifted its position in Plains GP by 29.9% in the third quarter. Entropy Technologies LP now owns 48,052 shares of the pipeline company’s stock worth $889,000 after purchasing an additional 11,073 shares during the period. Oxbow Advisors LLC lifted its holdings in shares of Plains GP by 0.8% during the third quarter. Oxbow Advisors LLC now owns 667,892 shares of the pipeline company’s stock valued at $12,356,000 after acquiring an additional 5,519 shares during the period. CWA Asset Management Group LLC bought a new position in shares of Plains GP during the third quarter valued at $3,144,000. Finally, Hara Capital LLC bought a new position in shares of Plains GP during the third quarter valued at $57,000. 88.30% of the stock is owned by institutional investors.

Plains GP Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Plains GP (NYSE:PAGP)

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