Plains Group Holdings, L.P. (PAGP) Rating Increased to Outperform at BMO Capital Markets

Plains Group Holdings, L.P. (NYSE:PAGP) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday. The firm currently has a $25.00 target price on the pipeline company’s stock, up from their previous target price of $22.00. BMO Capital Markets’ target price indicates a potential upside of 16.66% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Raymond James Financial, Inc. raised Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Monday, May 22nd. They noted that the move was a valuation call. Stifel Nicolaus dropped their price objective on Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th. Barclays PLC raised Plains Group Holdings, L.P. from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $32.00 to $31.00 in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG dropped their price objective on Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $27.00.

Shares of Plains Group Holdings, L.P. (PAGP) opened at 21.43 on Monday. Plains Group Holdings, L.P. has a 12-month low of $19.60 and a 12-month high of $36.59. The stock’s 50 day moving average price is $24.37 and its 200-day moving average price is $28.07. The firm’s market cap is $3.29 billion.

Plains Group Holdings, L.P. (NYSE:PAGP) last released its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The business’s revenue was up 22.8% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. On average, analysts predict that Plains Group Holdings, L.P. will post $1.03 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece of content was published by Week Herald and is owned by of Week Herald. If you are viewing this piece of content on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright legislation. The original version of this piece of content can be accessed at https://weekherald.com/2017/08/30/plains-group-holdings-l-p-pagp-rating-increased-to-outperform-at-bmo-capital-markets.html.

In related news, Director Everardo Goyanes acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were acquired at an average cost of $21.25 per share, for a total transaction of $425,000.00. Following the completion of the transaction, the director now directly owns 42,305 shares in the company, valued at approximately $898,981.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard K. Mcgee acquired 2,500 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $21.08 per share, for a total transaction of $52,700.00. The disclosure for this purchase can be found here. Insiders purchased 122,500 shares of company stock worth $2,724,700 over the last quarter. 39.93% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of PAGP. Texas Yale Capital Corp. increased its stake in shares of Plains Group Holdings, L.P. by 6.1% in the first quarter. Texas Yale Capital Corp. now owns 69,853 shares of the pipeline company’s stock worth $2,179,000 after buying an additional 4,000 shares during the period. BNP Paribas Arbitrage SA bought a new stake in shares of Plains Group Holdings, L.P. during the first quarter worth about $1,778,000. Princeton Alpha Management LP bought a new stake in shares of Plains Group Holdings, L.P. during the first quarter worth about $353,000. TIAA CREF Trust Co. FSB MO bought a new stake in shares of Plains Group Holdings, L.P. during the first quarter worth about $1,944,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Plains Group Holdings, L.P. by 21.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 436,977 shares of the pipeline company’s stock worth $13,660,000 after buying an additional 76,989 shares during the period. Institutional investors and hedge funds own 83.15% of the company’s stock.

Plains Group Holdings, L.P. Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Analyst Recommendations for Plains Group Holdings, L.P. (NYSE:PAGP)




Receive News & Ratings for Plains Group Holdings L.P. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Plains Group Holdings L.P. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

five × two =