Is Plains GP (NYSE:PAGP) In Trouble? Bernstein Issues Downgrade.

June 18, 2018 - By Vivian Currie

Plains GP (NYSE:PAGP) Receives a Downgrade

Bernstein decreased shares of Plains GP (NYSE:PAGP) stock from a “Outperform” rating to a “Mkt Perform” rating in a research report revealed to investors and clients on Monday morning.

Plains GP Holdings, L.P. (NYSE:PAGP) Ratings Coverage

Among 10 analysts covering Plains GP Holdings (NYSE:PAGP), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Plains GP Holdings has $29 highest and $22.0 lowest target. $25.29’s average target is 0.64% above currents $25.13 stock price. Plains GP Holdings had 14 analyst reports since December 20, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, December 20 by Jefferies. On Wednesday, January 17 the stock rating was downgraded by Barclays Capital to “Equal-Weight”. The firm has “Hold” rating given on Wednesday, May 9 by Stifel Nicolaus. Morgan Stanley upgraded the stock to “Buy” rating in Tuesday, February 13 report. The stock has “Hold” rating by Robert W. Baird on Wednesday, February 7. JP Morgan maintained the stock with “Overweight” rating in Tuesday, March 13 report. On Tuesday, March 6 the stock rating was upgraded by Stifel Nicolaus to “Buy”. The stock has “Hold” rating by Stifel Nicolaus on Thursday, February 8. The firm has “Neutral” rating by Bank of America given on Thursday, February 8. SunTrust upgraded Plains GP Holdings, L.P. (NYSE:PAGP) on Monday, April 9 to “Buy” rating.

The stock increased 1.37% or $0.34 during the last trading session, reaching $25.13. About 575,519 shares traded. Plains GP Holdings, L.P. (NYSE:PAGP) has declined 12.09% since June 18, 2017 and is downtrending. It has underperformed by 24.66% the S&P500.

Analysts await Plains GP Holdings, L.P. (NYSE:PAGP) to report earnings on August, 6. They expect $0.35 earnings per share, up 118.75 % or $0.19 from last year’s $0.16 per share. PAGP’s profit will be $194.64 million for 17.95 P/E if the $0.35 EPS becomes a reality. After $0.23 actual earnings per share reported by Plains GP Holdings, L.P. for the previous quarter, Wall Street now forecasts 52.17 % EPS growth.

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. The company has market cap of $13.98 billion. It operates through three divisions: Transportation, Facilities, and Supply and Logistics. It currently has negative earnings. The Transportation segment engages in the transportation of crude oil and NGL on pipelines, gathering systems, trucks, and barges.

Another recent and important Plains GP Holdings, L.P. (NYSE:PAGP) news was published by which published an article titled: “3 Energy Mergers That Need to Happen” on June 12, 2018.

Plains GP Holdings, L.P. (NYSE:PAGP) Ratings Chart

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