Plains GP (NYSE:PAGP) Stock Rating Lowered by Zacks Research

Plains GP (NYSE:PAGP) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on PAGP. Citigroup increased their price target on Plains GP from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Wells Fargo & Company boosted their price objective on Plains GP from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley lifted their price target on shares of Plains GP from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Barclays increased their target price on Plains GP from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Finally, Mizuho set a $23.00 price target on Plains GP in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.22.

Plains GP Price Performance

Plains GP stock opened at $23.12 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $4.58 billion, a P/E ratio of 43.62 and a beta of 0.56. Plains GP has a 52 week low of $16.60 and a 52 week high of $24.00. The business’s fifty day moving average is $21.35 and its two-hundred day moving average is $19.33.

Hedge Funds Weigh In On Plains GP

Institutional investors have recently bought and sold shares of the stock. Cibc World Market Inc. boosted its position in shares of Plains GP by 3.8% during the third quarter. Cibc World Market Inc. now owns 16,229 shares of the pipeline company’s stock worth $296,000 after acquiring an additional 597 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Plains GP by 0.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 75,889 shares of the pipeline company’s stock worth $1,384,000 after buying an additional 631 shares during the last quarter. CWM LLC lifted its holdings in shares of Plains GP by 8.5% in the 4th quarter. CWM LLC now owns 8,113 shares of the pipeline company’s stock valued at $155,000 after acquiring an additional 636 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Plains GP by 56.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,781 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 645 shares in the last quarter. Finally, Creative Planning increased its stake in Plains GP by 5.1% during the third quarter. Creative Planning now owns 15,192 shares of the pipeline company’s stock worth $277,000 after acquiring an additional 742 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Plains GP Company Profile

Plains GP Holdings, L.P. (NYSE: PAGP) serves as the general partner of Plains All American Pipeline, L.P., one of North America’s leading energy infrastructure companies. Through its ownership of a 2% general partner interest and incentive distribution rights (IDRs), Plains GP Holdings participates in the governance and cash distribution structure of a diversified portfolio of crude oil and natural gas liquids gathering, transportation, storage, and terminaling assets.

The company’s primary business activities include overseeing the strategic direction and capital allocation decisions for its affiliated midstream operations.