Plains GP Holdings L.P. [PAGP] gain 21.99% so far this year. What now?

Plains GP Holdings L.P. [NASDAQ: PAGP] closed the trading session at $12.37 on 12/14/22. The day’s price range saw the stock hit a low of $12.065, while the highest price level was $12.52. The company report on December 14, 2022 that Plains All American Announces Sale of Minority Ownership Interest in Keyera Fort Saskatchewan Joint Venture.

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“Today’s win-win announcement allows us to monetize our 21% ownership of the KFS JV, while improving key connectivity for our Plains Fort Saskatchewan facility,” stated Willie Chiang, Chairman and CEO of Plains All American. “The sale proceeds will be utilized to further lower our leverage, strengthen our financial positioning and potentially reinvest in capital-efficient expansions and improvements at the Plains Fort Saskatchewan facility.”.

The stocks have a year to date performance of 21.99 percent and weekly performance of -0.16 percent. The stock has been moved at 12.66 percent over the last six months. The stock has performed -4.33 percent around the most recent 30 days and changed -4.11 percent over the most recent 3-months.

If compared to the average trading volume of 2.61M shares, PAGP reached to a volume of 3303807 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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.

Citigroup 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 December 09, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $15 to $14. The new note on the price target was released on November 21, 2022, representing the official price target for Plains GP Holdings L.P. stock. Previously, the target price had yet another raise to $16, while Stifel analysts kept a Buy rating on PAGP stock.

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 0.04. The Price to Book ratio for the last quarter was 1.59, with the Price to Cash per share for the same quarter was set at 3.15. Price to Free Cash Flow for PAGP in the course of the last twelve months was 1.14 with Quick ratio for the last quarter at 0.90.

PAGP stock trade performance evaluation

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 -0.16. With this latest performance, PAGP shares dropped by -4.33% in over the last four-week period, additionally plugging by 12.66% over the last 6 months – not to mention a rise of 28.45% 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 45.05, with the RSI for the last a single of trading hit 42.90, and the three-weeks RSI is set at 47.26 for Plains GP Holdings L.P. [PAGP]. The present Moving Average for the last 50 days of trading for this stock 12.54, while it was recorded at 12.27 for the last single week of trading, and 11.75 for the last 200 days.

Plains GP Holdings L.P. [PAGP]: An insightful look at the core 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 Ownership positions

There are presently around $2,023 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 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 $158.6 million in PAGP stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $153.22 million in PAGP stock with ownership of nearly 1.164% of the company’s market capitalization.

Positions in Plains GP Holdings L.P. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 142 institutional holders increased their position in Plains GP Holdings L.P. [NASDAQ:PAGP] by around 16,195,184 shares. Additionally, 93 investors decreased positions by around 17,673,947 shares, while 49 investors held positions by with 129,656,702 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 26 institutional investors sold positions of 5,021,679 shares during the same period.


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