Technical Outlook And Game Plan For Plains GP Holdings LP (NASDAQ: PAGP)

Plains GP Holdings LP (PAGP) concluded trading on Wednesday at a closing price of $18.87, with 3.39 million shares of worth about $64.02 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 18.01% during that period and on April 3, 2024 the price saw a gain of about 2.22%. Currently the company’s common shares owned by public are about 196.42M shares, out of which, 191.78M shares are available for trading.

Stock saw a price change of 5.89% in past 5 days and over the past one month there was a price change of 9.08%. Year-to-date (YTD), PAGP shares are showing a performance of 18.31% which increased to 43.83% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.59 but also hit the highest price of $18.52 during that period. The average intraday trading volume for Plains GP Holdings LP shares is 2.18 million. The stock is currently trading 6.49% above its 20-day simple moving average (SMA20), while that difference is up 10.45% for SMA50 and it goes to 17.64% higher than SMA200.

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Plains GP Holdings LP (NASDAQ: PAGP) currently have 196.42M outstanding shares and institutions hold larger chunk of about 84.16% of that.

The stock has a current market capitalization of $3.72B and its 3Y-monthly beta is at 1.52. PE ratio of stock for trailing 12 months is 18.59, while it has posted earnings per share of $1.02 in the same period. It has Quick Ratio of 0.87 while making debt-to-equity ratio of 5.23. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PAGP, volatility over the week remained 1.59% while standing at 1.31% over the month.

Stock’s fiscal year EPS is expected to rise by 33.39% while it is estimated to increase by 15.11% in next year. EPS is likely to grow at an annualized rate of 0.00% for next 5-years, compared to annual growth of -3.03% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on October 06, 2023 offering a Sell rating for the stock and assigned a target price of $13.50 to it. Coverage by Barclays stated Plains GP Holdings LP (PAGP) stock as an Underweight in their note to investors on September 25, 2023, suggesting a price target of $15 for the stock. On September 06, 2023, Citigroup Downgrade their recommendations, while on April 21, 2023, Raymond James Upgrade their ratings for the stock with a price target of $17. Stock get a Buy rating from Citigroup on December 09, 2022.

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