Plains GP (NYSE:PAGP) Upgraded at StockNews.com

Plains GP (NYSE:PAGP - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

Other research analysts have also recently issued reports about the company. Wolfe Research upgraded Plains GP to a "hold" rating in a research report on Wednesday, September 18th. Morgan Stanley lowered shares of Plains GP from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Plains GP currently has a consensus rating of "Hold" and an average price target of $19.88.

Plains GP Stock Performance

PAGP traded down $0.55 during midday trading on Friday, hitting $18.27. 2,842,896 shares of the company were exchanged, compared to its average volume of 1,616,284. The company's 50 day simple moving average is $18.50 and its 200 day simple moving average is $18.58. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 22.01 and a beta of 1.54. Plains GP has a 1-year low of $14.93 and a 1-year high of $20.10. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49.

Institutional Inflows and Outflows

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