Plains GP Holdings L.P. [PAGP] is 25.64% higher this YTD. Is it still time to buy?

Plains GP Holdings L.P. [NASDAQ: PAGP] stock went on a downward path that fall over -2.08%  amounting to a one-week price decrease of less than -1.47%. The company report on November 2, 2022 that Plains All American Reports Third-Quarter 2022 Results, Increases 2022 Guidance and Announces Multi-Year Capital Allocation Framework.


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Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported third-quarter 2022 results and provided the following highlights and increase to 2022 guidance:.

Third-quarter Net income attributable to PAA of $384 million and Net cash provided by operating activities of $941 million.

Over the last 12 months, PAGP stock rose by 20.99%. The one-year Plains GP Holdings L.P. stock forecast points to a potential upside of 15.46. The average equity rating for PAGP stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.44 billion, with 194.00 million shares outstanding and 189.29 million shares in the current float. Compared to the average trading volume of 2.58M shares, PAGP stock reached a trading volume of 4876899 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 $15.07 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 2.00. 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.

JP Morgan have made an estimate for Plains GP Holdings L.P. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 21, 2022. The new note on the price target was released on August 15, 2022, representing the official price target for Plains GP Holdings L.P. stock. Previously, the target price had yet another raise to $13, while Seaport Research Partners analysts kept a Buy rating on PAGP stock.

The Average True Range (ATR) for Plains GP Holdings L.P. is set at 0.37, with the Price to Sales ratio for PAGP stock in the period of the last 12 months amounting to 0.04. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 3.26. Price to Free Cash Flow for PAGP in the course of the last twelve months was 1.13 with Quick ratio for the last quarter at 0.90.

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 -1.47. With this latest performance, PAGP shares gained by 2.91% in over the last four-week period, additionally plugging by 10.49% over the last 6 months – not to mention a rise of 20.99% 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 52.04, with the RSI for the last a single of trading hit 48.07, and the three-weeks RSI is set at 53.45 for Plains GP Holdings L.P. [PAGP]. The present Moving Average for the last 50 days of trading for this stock 12.23, while it was recorded at 12.86 for the last single week of trading, and 11.65 for the last 200 days.

Insight into Plains GP Holdings L.P. Fundamentals:

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 $2,083 million, or 85.20% 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 13,566,475, which is approximately -4.711% of the company’s market cap and around 0.20% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 12,821,209 shares of the stock with an approximate value of $163.34 million in PAGP stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $157.8 million in PAGP stock with ownership of nearly 1.164% of the company’s market capitalization.

142 institutional holders increased their position in Plains GP Holdings L.P. [NASDAQ:PAGP] by around 16,195,184 shares. Additionally, 94 investors decreased positions by around 17,687,426 shares, while 49 investors held positions by with 129,643,223 shares. The mentioned changes placed institutional holdings at 163,525,833 shares, according to the latest SEC report filing. PAGP stock had 29 new institutional investments in for a total of 2,804,222 shares, while 27 institutional investors sold positions of 5,035,158 shares during the same period.

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