Plains GP Target of Unusually Large Options Trading (PAGP)

Plains GP Holdings LP (NYSE:PAGP) saw some unusual options trading activity on Friday. Stock investors purchased 31,056 call options on the company. This is an increase of 1,874% compared to the typical volume of 1,573 call options.

Shares of Plains GP (PAGP) opened at $21.29 on Monday. Plains GP has a 12 month low of $18.98 and a 12 month high of $35.86. The company has a market cap of $6,150.00, a P/E ratio of 47.31 and a beta of 1.51. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 0.84.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). Plains GP had a return on equity of 0.50% and a net margin of 0.25%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. research analysts anticipate that Plains GP will post 0.87 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. State of Wisconsin Investment Board grew its stake in shares of Plains GP by 9.9% in the second quarter. State of Wisconsin Investment Board now owns 316,550 shares of the pipeline company’s stock worth $8,281,000 after acquiring an additional 28,420 shares during the period. Atlantic Trust Group LLC grew its stake in shares of Plains GP by 14.9% in the second quarter. Atlantic Trust Group LLC now owns 2,223,939 shares of the pipeline company’s stock worth $58,179,000 after acquiring an additional 287,807 shares during the period. Bessemer Group Inc. grew its position in Plains GP by 71.7% during the third quarter. Bessemer Group Inc. now owns 47,630 shares of the pipeline company’s stock valued at $1,042,000 after buying an additional 19,882 shares during the period. Penserra Capital Management LLC bought a new stake in Plains GP during the second quarter valued at approximately $103,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Plains GP by 14.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 502,103 shares of the pipeline company’s stock valued at $13,135,000 after buying an additional 65,126 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

A number of research analysts recently issued reports on PAGP shares. Bank of America set a $22.00 price target on shares of Plains GP and gave the company a “hold” rating in a research report on Monday, August 28th. ValuEngine cut shares of Plains GP from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Raymond James Financial raised shares of Plains GP from an “outperform” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Monday, August 28th. BMO Capital Markets raised shares of Plains GP from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $22.00 to $25.00 in a research report on Monday, August 28th. Finally, Seaport Global Securities started coverage on shares of Plains GP in a report on Tuesday, October 10th. They issued a “neutral” rating and a $23.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.75.

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Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

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