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Plains GP Holdings (PAGP) Received its Third Buy in a Row


After Stifel Nicolaus and Seaport Global gave Plains GP Holdings (NYSE: PAGP) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Tom Abrams maintained a Buy rating on Plains GP Holdings today and set a price target of $29. The company’s shares closed on Friday at $22.13.

According to TipRanks.com, Abrams is a 1-star analyst with an average return of -2.0% and a 46.3% success rate. Abrams covers the Basic Materials sector, focusing on stocks such as Oasis Midstream Partners Lp, Hess Midstream Partners Lp, and EnLink Midstream Partners.

Plains GP Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $28.60.

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Based on Plains GP Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $8.85 billion and net profit of $111 million. In comparison, last year the company earned revenue of $6.1 billion and had a net profit of $4 million.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PAGP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Plains GP Holdings LP operates as a holding company. Its subsidiaries engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids. The company was founded in August 2007 and is headquartered in Houston, TX.