Short Interest in Plains GP Holdings (PAGP) Decreases By 36.8%

Plains GP Holdings (NYSE:PAGP) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,676,220 shares, a decline of 36.8% from the February 15th total of 2,653,850 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 1,188,155 shares, the short-interest ratio is currently 1.4 days.

PAGP has been the topic of a number of analyst reports. Morgan Stanley raised Plains GP from an “equal weight” rating to an “overweight” rating and set a $32.00 price target on the stock in a research report on Tuesday, February 13th. Seaport Global Securities upgraded Plains GP from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 20th. Bank of America initiated coverage on Plains GP in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. Stifel Nicolaus upgraded Plains GP from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, March 6th. Finally, Zacks Investment Research upgraded Plains GP from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $26.11.

How to Become a New Pot Stock Millionaire

In other Plains GP news, Director Oscar K. Brown bought 7,100 shares of the firm’s 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 purchase, the director now owns 7,100 shares in the company, valued at $159,821. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 39.93% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its holdings in Plains GP by 11.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after buying an additional 428 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Plains GP by 40.6% in the 4th quarter. Toronto Dominion Bank now owns 8,593 shares of the pipeline company’s stock valued at $188,000 after purchasing an additional 2,483 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Plains GP by 1.0% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 276,834 shares of the pipeline company’s stock worth $6,054,000 after acquiring an additional 2,700 shares during the period. LVW Advisors LLC raised its position in Plains GP by 13.4% during the third quarter. LVW Advisors LLC now owns 23,700 shares of the pipeline company’s stock worth $518,000 after acquiring an additional 2,801 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Plains GP by 2.5% during the fourth quarter. Wells Fargo & Company MN now owns 122,098 shares of the pipeline company’s stock worth $2,680,000 after buying an additional 2,987 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

Plains GP stock traded down $0.02 during mid-day trading on Friday, hitting $23.23. The company’s stock had a trading volume of 3,435,768 shares, compared to its average volume of 1,631,109. Plains GP has a 12 month low of $18.98 and a 12 month high of $31.77. The company has a quick ratio of 0.73, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $3,647.37, a PE ratio of 35.74 and a beta of 1.25.

Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Tuesday, February 6th. The pipeline company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.25). The company had revenue of $7.61 billion for the quarter, compared to the consensus estimate of $4.91 billion. Plains GP had a negative net margin of 2.79% and a positive return on equity of 0.73%. equities analysts expect that Plains GP will post 1.45 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Short Interest in Plains GP Holdings (PAGP) Decreases By 36.8%” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/08/plains-gp-holdings-lp-pagp-short-interest-down-36-8-in-february.html.

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.

Receive News & Ratings for Plains GP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains GP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply