Plains GP Holdings LP (NASDAQ: PAGP): Reassessing Prospects

Plains GP Holdings LP (PAGP) concluded trading on Thursday at a closing price of $19.32, with 2.9 million shares of worth about $56.04 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.52% during that period and on December 12, 2024 the price saw a gain of about 0.16%. Currently the company’s common shares owned by public are about 197.47M shares, out of which, 191.95M shares are available for trading.

Stock saw a price change of -3.06% in past 5 days and over the past one month there was a price change of 7.93%. Year-to-date (YTD), PAGP shares are showing a performance of 21.13% which increased to 28.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.93 but also hit the highest price of $20.10 during that period. The average intraday trading volume for Plains GP Holdings LP shares is 1.41 million. The stock is currently trading 0.68% above its 20-day simple moving average (SMA20), while that difference is up 3.69% for SMA50 and it goes to 4.18% higher than SMA200.

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Plains GP Holdings LP (NASDAQ: PAGP) currently have 197.47M outstanding shares and institutions hold larger chunk of about 80.83% of that.

The stock has a current market capitalization of $14.93B and its 3Y-monthly beta is at 1.55. PE ratio of stock for trailing 12 months is 22.89, while it has posted earnings per share of $0.84 in the same period. It has Quick Ratio of 0.92 while making debt-to-equity ratio of 5.64. 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 1.91% while standing at 1.93% over the month.

Stock’s fiscal year EPS is expected to rise by 53.29% while it is estimated to increase by 17.55% in next year.

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 Morgan Stanley on October 25, 2024 offering an Equal-weight rating for the stock and assigned a target price range of between $22 and $19 to it. Coverage by Scotiabank stated Plains GP Holdings LP (PAGP) stock as a Sector outperform in their note to investors on April 08, 2024, suggesting a price target of $23 for the stock. On October 06, 2023, Goldman Resumed their recommendations, while on September 25, 2023, Barclays Downgrade their ratings for the stock with a price target of $15. Stock get a Neutral rating from Citigroup on September 06, 2023.

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