Plains GP Holdings L.P. [PAGP] Stock trading around $12.16 per share: What’s Next?

Plains GP Holdings L.P. [NASDAQ: PAGP] stock went on an upward path that rose over 4.20% on Thursday, amounting to a one-week price increase of more than 3.75%. The company report on August 16, 2022 that Plains Midstream Canada Pursuing Fort Saskatchewan Facility Expansion.


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Plains Midstream Canada, a subsidiary of Plains All American (Nasdaq: PAA & PAGP) (“Plains”), announced today it is exploring the expansion of its Fort Saskatchewan facility with strategic partners. The expansion would leverage existing infrastructure and add 50,000 barrels per day of C3+ fractionation capacity, while maintaining the flexibility to deliver a propane/butane mix to Plains’ fractionation facility in Sarnia, Ont.

“With our integrated asset base, we are well positioned to provide competitive and capital-efficient solutions that align with customer needs and our long-term strategy,” says Michelle Podavin, Senior Vice President, NGL Commercial Assets, Plains Midstream Canada. “Plains is excited to develop this expansion project to meet the growing needs of our customers for reliable, responsibly produced energy across North America.”.

Over the last 12 months, PAGP stock rose by 22.58%. The one-year Plains GP Holdings L.P. stock forecast points to a potential upside of 15.73. The average equity rating for PAGP stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.90 billion, with 194.00 million shares outstanding and 189.23 million shares in the current float. Compared to the average trading volume of 2.79M shares, PAGP stock reached a trading volume of 2225162 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 $14.43 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 2.10. 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.

Stifel have made an estimate for Plains GP Holdings L.P. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 15, 2022. The new note on the price target was released on August 01, 2022, representing the official price target for Plains GP Holdings L.P. stock. Previously, the target price had yet another raise to $12, while BofA Securities analysts kept a Neutral rating on PAGP stock. On May 12, 2022, analysts increased their price target for PAGP shares from 13 to 14.

The Average True Range (ATR) for Plains GP Holdings L.P. is set at 0.36, with the Price to Sales ratio for PAGP stock in the period of the last 12 months amounting to 0.05. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 1.13. Price to Free Cash Flow for PAGP in the course of the last twelve months was 1.81 with Quick ratio for the last quarter at 0.90.

PAGP Stock Performance Analysis:

Plains GP Holdings L.P. [PAGP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.75. With this latest performance, PAGP shares gained by 9.65% in over the last four-week period, additionally plugging by 6.39% over the last 6 months – not to mention a rise of 22.58% 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 67.79, with the RSI for the last a single of trading hit 73.45, and the three-weeks RSI is set at 62.87 for Plains GP Holdings L.P. [PAGP]. The present Moving Average for the last 50 days of trading for this stock 10.92, while it was recorded at 11.84 for the last single week of trading, and 11.18 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 +4.88 and a Gross Margin at +5.54. Plains GP Holdings L.P.’s Net Margin is presently recorded at +0.14.

Return on Equity for this stock inclined to 4.00, with Return on Assets sitting at 0.21.

Plains GP Holdings L.P.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

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

There are presently around $1,956 million, or 85.50% of PAGP stock, in the hands of institutional investors. The top three institutional holders of PAGP stocks are: TORTOISE CAPITAL ADVISORS, L.L.C. with ownership of 14,237,133, which is approximately -5.047% of the company’s market cap and around 2.57% of the total institutional ownership; MASSACHUSETTS FINANCIAL SERVICES CO /MA/, holding 12,243,645 shares of the stock with an approximate value of $148.88 million in PAGP stocks shares; and GOLDMAN SACHS GROUP INC, currently with $134.9 million in PAGP stock with ownership of nearly -2.111% of the company’s market capitalization.

135 institutional holders increased their position in Plains GP Holdings L.P. [NASDAQ:PAGP] by around 14,165,514 shares. Additionally, 112 investors decreased positions by around 19,931,735 shares, while 43 investors held positions by with 126,750,008 shares. The mentioned changes placed institutional holdings at 160,847,257 shares, according to the latest SEC report filing. PAGP stock had 35 new institutional investments in for a total of 3,436,492 shares, while 35 institutional investors sold positions of 6,288,823 shares during the same period.

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