Plains GP Holdings Sees Unusually-High Trading Volume on Analyst Upgrade (PAGP)
Plains GP Holdings (NASDAQ:PAGP) shares saw an uptick in trading volume on Monday after Wunderlich raised their price target on the stock from $29.00 to $32.00, American Banking News.com reports. Wunderlich currently has a buy rating on the stock. 1,663,017 shares traded hands during trading, an increase of 161% from the previous session’s volume of 637,268 shares.The stock last traded at $29.30 and had previously closed at $28.87.
Other equities research analysts have also recently issued reports about the stock. Analysts at Global Hunter Securities initiated coverage on shares of Plains GP Holdings in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $30.00 price target on the stock. Separately, analysts at Stephens downgraded shares of Plains GP Holdings from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 29th. They now have a $31.00 price target on the stock, up previously from $27.00. They noted that the move was a valuation call. Finally, analysts at Robert W. Baird raised their price target on shares of Plains GP Holdings from $28.00 to $30.00 in a research note on Tuesday, May 13th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $29.50.
The stock’s 50-day moving average is $27.90 and its 200-day moving average is $26.77. The company has a market cap of $3.980 billion and a P/E ratio of 156.90.
Plains GP Holdings (NASDAQ:PAGP) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.01. On average, analysts predict that Plains GP Holdings will post $0.49 earnings per share for the current fiscal year.
Plains GP Holdings, L.P has direct and indirect partnership interests in Plains All American Pipeline, L.
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