Plains GP Holdings LP (NYSE:PAGP) Director Everardo Goyanes sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $24.60, for a total transaction of $492,000.00. Following the completion of the sale, the director now owns 32,305 shares in the company, valued at approximately $794,703. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of NYSE PAGP opened at $24.47 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.84 and a current ratio of 1.02. The stock has a market cap of $3.90 billion, a PE ratio of 8.77 and a beta of 1.20. Plains GP Holdings LP has a 12-month low of $19.17 and a 12-month high of $27.00.
Plains GP (NYSE:PAGP) last announced its earnings results on Tuesday, May 7th. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.49. The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $10.54 billion. Plains GP had a net margin of 1.31% and a return on equity of 3.41%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. As a group, sell-side analysts expect that Plains GP Holdings LP will post 1.66 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in Plains GP in the 4th quarter worth about $53,000. Squar Milner Financial Services LLC purchased a new stake in Plains GP in the 1st quarter worth about $85,000. Cresset Asset Management LLC purchased a new stake in Plains GP in the 1st quarter worth about $92,000. Daiwa Securities Group Inc. raised its position in Plains GP by 550.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,200 shares of the pipeline company’s stock worth $105,000 after purchasing an additional 4,400 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Plains GP in the 1st quarter worth about $145,000. Hedge funds and other institutional investors own 84.65% of the company’s stock.
Several analysts have commented on PAGP shares. ValuEngine cut shares of Plains GP from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 7th. Zacks Investment Research cut shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Evercore ISI assumed coverage on shares of Plains GP in a research note on Tuesday, February 5th. They issued a $24.00 price target on the stock. Finally, TheStreet upgraded shares of Plains GP from a “c” rating to a “b-” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $28.57.
About Plains GP
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.
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