Plains GP Target of Unusually Large Options Trading (PAGP)

Plains GP Holdings (NYSE:PAGP) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 1,829 put options on the company. This is an increase of 2,850% compared to the typical volume of 62 put options.

In related news, Director Oscar K. Brown acquired 7,100 shares of Plains GP stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $22.51 per share, with a total value of $159,821.00. Following the completion of the transaction, the director now directly owns 7,100 shares in the company, valued at approximately $159,821. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 39.93% of the company’s stock.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB raised its stake in Plains GP by 26.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 17,460 shares of the pipeline company’s stock worth $383,000 after acquiring an additional 3,697 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Plains GP by 32.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 104,991 shares of the pipeline company’s stock worth $2,305,000 after acquiring an additional 25,454 shares in the last quarter. Brookfield Asset Management Inc. acquired a new position in Plains GP during the fourth quarter worth about $42,264,000. Glenmede Trust Co. NA grew its holdings in shares of Plains GP by 15.8% during the fourth quarter. Glenmede Trust Co. NA now owns 67,462 shares of the pipeline company’s stock worth $1,480,000 after purchasing an additional 9,223 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Plains GP by 153.9% during the fourth quarter. Macquarie Group Ltd. now owns 45,700 shares of the pipeline company’s stock worth $3,087,000 after purchasing an additional 27,700 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

NYSE PAGP traded down $0.02 during trading on Friday, hitting $23.23. 3,435,768 shares of the company’s stock were exchanged, compared to its average volume of 1,631,109. The company has a current ratio of 0.88, a quick ratio of 0.73 and a debt-to-equity ratio of 0.74. The company has a market cap of $3,650.51, a price-to-earnings ratio of 35.74 and a beta of 1.25. Plains GP has a fifty-two week low of $18.98 and a fifty-two week high of $31.77.

Plains GP (NYSE:PAGP) last issued its earnings results on Tuesday, February 6th. The pipeline company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.25). The business had revenue of $7.61 billion for the quarter, compared to analyst estimates of $4.91 billion. Plains GP had a positive return on equity of 0.73% and a negative net margin of 2.79%. sell-side analysts predict that Plains GP will post 1.45 earnings per share for the current year.

A number of brokerages have recently issued reports on PAGP. JPMorgan Chase reissued an “overweight” rating and issued a $28.00 target price (up previously from $27.00) on shares of Plains GP in a research report on Tuesday, March 13th. Zacks Investment Research raised shares of Plains GP from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. Stifel Nicolaus raised Plains GP from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Tuesday, March 6th. Seaport Global Securities raised Plains GP from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley raised Plains GP from an “equal weight” rating to an “overweight” rating and set a $32.00 price target for the company in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $26.11.

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Plains GP Company Profile

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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