Plains GP Holdings, L.P. (NYSE:PAGP) Stock Position Increased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,635 shares of the pipeline company’s stock after purchasing an additional 3,582 shares during the period. Geode Capital Management LLC owned 0.08% of Plains GP worth $2,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Plains GP by 17.1% during the third quarter. State Street Corp now owns 640,918 shares of the pipeline company’s stock valued at $11,857,000 after purchasing an additional 93,643 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Plains GP in the second quarter worth approximately $566,000. Vestcor Inc boosted its stake in Plains GP by 79.1% during the 3rd quarter. Vestcor Inc now owns 78,442 shares of the pipeline company’s stock valued at $1,451,000 after purchasing an additional 34,633 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Plains GP by 1.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,373,000 shares of the pipeline company’s stock valued at $80,900,000 after purchasing an additional 53,000 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Plains GP in the 3rd quarter worth $4,013,000. Institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wolfe Research raised Plains GP to a “hold” rating in a research note on Wednesday, September 18th. StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four 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 target price of $19.88.

Plains GP Stock Down 0.1 %

PAGP stock opened at $18.78 on Wednesday. The company’s 50 day simple moving average is $18.67 and its 200-day simple moving average is $18.78. Plains GP Holdings, L.P. has a 52-week low of $15.78 and a 52-week high of $20.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market capitalization of $3.71 billion, a P/E ratio of 22.09 and a beta of 1.58.

Plains GP 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.