Plains GP (NYSE:PAGP) Stock Rating Lowered by US Capital Advisors

Plains GP (NYSE:PAGP) was downgraded by investment analysts at US Capital Advisors from a “strong-buy” rating to a “moderate buy” rating in a report released on Friday,Zacks.com reports.

Other research analysts have also issued reports about the company. Barclays boosted their price target on Plains GP from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Zacks Research raised Plains GP from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Wells Fargo & Company boosted their price target on Plains GP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Truist Financial assumed coverage on Plains GP in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target for the company. Finally, Citigroup increased their target price on shares of Plains GP from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Plains GP presently has an average rating of “Hold” and an average price target of $22.50.

Plains GP Stock Performance

Shares of PAGP stock opened at $24.35 on Friday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 45.94 and a beta of 0.46. The company’s 50 day moving average is $24.00 and its 200 day moving average is $21.53. 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 52-week low of $16.68 and a 52-week high of $26.15.

Institutional Investors Weigh In On Plains GP

Several institutional investors have recently bought and sold shares of the company. Caprock Group LLC purchased a new position in shares of Plains GP in the third quarter worth $3,088,000. CWA Asset Management Group LLC raised its holdings in shares of Plains GP by 19.3% in the fourth quarter. CWA Asset Management Group LLC now owns 156,306 shares of the pipeline company’s stock worth $2,992,000 after buying an additional 25,321 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Plains GP by 14.4% in the fourth quarter. Evergreen Capital Management LLC now owns 835,817 shares of the pipeline company’s stock worth $15,998,000 after buying an additional 105,448 shares during the last quarter. Meritage Portfolio Management raised its holdings in shares of Plains GP by 36.5% in the fourth quarter. Meritage Portfolio Management now owns 314,420 shares of the pipeline company’s stock worth $6,018,000 after buying an additional 84,042 shares during the last quarter. Finally, Advisors Capital Management LLC raised its holdings in shares of Plains GP by 4.0% in the third quarter. Advisors Capital Management LLC now owns 2,666,859 shares of the pipeline company’s stock worth $48,644,000 after buying an additional 101,512 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

About Plains GP

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.