Plains GP (NYSE:PAGP) Downgraded by StockNews.com to Hold

Plains GP (NYSE:PAGP - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Monday.

A number of other research analysts have also recently weighed in on the stock. Raymond James boosted their price objective on shares of Plains GP from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. Wolfe Research upgraded shares of Plains GP from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research report on Friday, January 10th. Morgan Stanley cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Barclays boosted their price objective on shares of Plains GP from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company cut shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $20.60.

Plains GP Price Performance

Plains GP stock traded up $0.20 during mid-day trading on Monday, reaching $21.11. 932,456 shares of the company's stock traded hands, compared to its average volume of 2,017,290. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 24.83 and a beta of 1.58. The stock has a 50 day moving average of $20.00 and a two-hundred day moving average of $19.13. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Plains GP has a 12-month low of $16.36 and a 12-month high of $22.31.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in Plains GP by 61.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,363 shares of the pipeline company's stock worth $25,000 after acquiring an additional 520 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Plains GP during the fourth quarter valued at about $33,000. Allworth Financial LP purchased a new stake in shares of Plains GP during the fourth quarter valued at about $44,000. Farther Finance Advisors LLC lifted its position in shares of Plains GP by 8,120.7% during the fourth quarter. Farther Finance Advisors LLC now owns 2,384 shares of the pipeline company's stock valued at $44,000 after buying an additional 2,355 shares during the last quarter. Finally, Hara Capital LLC purchased a new stake in shares of Plains GP during the third quarter valued at about $57,000. 88.30% of the stock is currently owned by institutional investors.

Plains GP Company 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.