Plains GP Holdings L.P. [PAGP] Revenue clocked in at $23.40 billion, up 19.05% YTD: What’s Next?

Plains GP Holdings L.P. [NASDAQ: PAGP] stock went on a downward path that fall over -4.01% on Wednesday, amounting to a one-week price decrease of less than -6.68%. The company report on August 4, 2021 that Plains All American Reports Second-Quarter 2021 Results.

Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) reported second-quarter 2021 results and provided various other updates.

Completed the sale of Plains’ natural gas storage assets (transaction announced June 8th and closed August 2nd) resulting in net sales proceeds of approximately $850 million, a corresponding non-cash impairment charge of approximately $475 million, and a net loss for the second-quarter of $220 million.

Over the last 12 months, PAGP stock rose by 17.25%. The one-year Plains GP Holdings L.P. stock forecast points to a potential upside of 20.72. The average equity rating for PAGP stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.96 billion, with 194.00 million shares outstanding and 189.12 million shares in the current float. Compared to the average trading volume of 2.48M shares, PAGP stock reached a trading volume of 3253582 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Plains GP Holdings L.P. [PAGP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PAGP shares is $12.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PAGP stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Plains GP Holdings L.P. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 16, 2021. The new note on the price target was released on March 11, 2021, representing the official price target for Plains GP Holdings L.P. stock.

The Average True Range (ATR) for Plains GP Holdings L.P. is set at 0.43, with the Price to Sales ratio for PAGP stock in the period of the last 12 months amounting to 0.08. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 0.16. Price to Free Cash Flow for PAGP in the course of the last twelve months was 1.68 with Quick ratio for the last quarter at 0.80.

PAGP Stock Performance Analysis:

Plains GP Holdings L.P. [PAGP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.68. With this latest performance, PAGP shares dropped by -13.13% in over the last four-week period, additionally plugging by 13.93% over the last 6 months – not to mention a rise of 17.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PAGP stock in for the last two-week period is set at 36.12, with the RSI for the last a single of trading hit 32.98, and the three-weeks RSI is set at 39.26 for Plains GP Holdings L.P. [PAGP]. The present Moving Average for the last 50 days of trading for this stock 11.44, while it was recorded at 10.37 for the last single week of trading, and 9.60 for the last 200 days.

Insight into Plains GP Holdings L.P. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Plains GP Holdings L.P. [PAGP] shares currently have an operating margin of +4.87 and a Gross Margin at +6.04. Plains GP Holdings L.P.’s Net Margin is presently recorded at -2.41.

Return on Total Capital for PAGP is now 4.94, given the latest momentum, and Return on Invested Capital for the company is -4.96. Return on Equity for this stock declined to -31.39, with Return on Assets sitting at -2.03. When it comes to the capital structure of this company, Plains GP Holdings L.P. [PAGP] has a Total Debt to Total Equity ratio set at 724.59. Additionally, PAGP Total Debt to Total Capital is recorded at 87.87, with Total Debt to Total Assets ending up at 40.88. Long-Term Debt to Equity for the company is recorded at 662.50, with the Long-Term Debt to Total Capital now at 80.34.

Reflecting on the efficiency of the workforce at the company, Plains GP Holdings L.P. [PAGP] managed to generate an average of -$129,091 per employee. Receivables Turnover for the company is 7.65 with a Total Asset Turnover recorded at a value of 0.84.Plains GP Holdings L.P.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.

Plains GP Holdings L.P. [PAGP] Insider Position Details

There are presently around $1,572 million, or 82.30% of PAGP stock, in the hands of institutional investors. The top three institutional holders of PAGP stocks are: MASSACHUSETTS FINANCIAL SERVICES CO /MA/ with ownership of 14,050,687, which is approximately -13.421% of the company’s market cap and around 0.10% of the total institutional ownership; TORTOISE CAPITAL ADVISORS, L.L.C., holding 13,244,281 shares of the stock with an approximate value of $133.24 million in PAGP stocks shares; and CHICKASAW CAPITAL MANAGEMENT LLC, currently with $100.81 million in PAGP stock with ownership of nearly -2.293% of the company’s market capitalization.

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Positions in Plains GP Holdings L.P. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 113 institutional holders increased their position in Plains GP Holdings L.P. [NASDAQ:PAGP] by around 14,363,498 shares. Additionally, 96 investors decreased positions by around 19,824,879 shares, while 34 investors held positions by with 122,068,810 shares. The mentioned changes placed institutional holdings at 156,257,187 shares, according to the latest SEC report filing. PAGP stock had 29 new institutional investments in for a total of 1,599,280 shares, while 23 institutional investors sold positions of 4,800,944 shares during the same period.

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