Price Action Alert: Will Plains GP Holdings LP Run Out of Steam Soon?

Price Action Alert: Will Plains GP Holdings LP Run Out of Steam Soon?

The stock of Plains GP Holdings LP (NYSE:PAGP) reached all time high today, Nov, 16 and still has $58.07 target or 69.00% above today’s $34.36 share price. This indicates more upside for the $23.27 billion company. This technical setup was reported by Barchart.com. If the $58.07 PT is reached, the company will be worth $16.06 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 145,290 shares traded hands. Plains GP Holdings LP (NYSE:PAGP) has declined 27.19% since April 14, 2016 and is downtrending. It has underperformed by 31.88% the S&P500.

Plains GP Holdings LP (NYSE:PAGP) Ratings Coverage

Out of 19 analysts covering Plains GP Holdings LP (NYSE:PAGP), 6 rate it a “Buy”, 0 “Sell”, while 13 “Hold”. This means 32% are positive. Plains GP Holdings LP has been the topic of 36 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Thursday, May 26, the company rating was maintained by Morgan Stanley. Goldman Sachs downgraded the stock to “Neutral” rating in Thursday, August 6 report. The firm has “Outperform” rating by Oppenheimer given on Tuesday, August 11. The stock has “Neutral” rating given by Suntrust Robinson on Wednesday, June 15. The rating was downgraded by JP Morgan to “Neutral” on Wednesday, January 13. The rating was maintained by Wunderlich with “Hold” on Monday, December 14. The stock has “Equal Weight” rating given by Barclays Capital on Friday, July 8. As per Monday, February 8, the company rating was downgraded by Robert W. Baird. On Thursday, August 6 the stock rating was downgraded by Robert W. Baird to “Neutral”. On Friday, April 1 the stock rating was reinitiated by Piper Jaffray with “Neutral”.

According to Zacks Investment Research, “Plains GP Holdings, L.P. operates as a holding company. The Company, through its subsidiaries, is involved in the transportation, storage, terminalling, and marketing of crude oil and refined products. It also focuses on the processing, transportation, fractionation, storage, and marketing of natural gas liquids, including ethane and natural gasoline products, as well as propane and butane products. Plains GP Holdings, L.P. is based in Houston, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.32, from 1.36 in 2016Q1. The ratio fall, as 28 funds sold all Plains GP Holdings LP shares owned while 78 reduced positions. 31 funds bought stakes while 79 increased positions. They now own 192.38 million shares or 4.39% less from 201.21 million shares in 2016Q1.
Blackrock Inc has 0% invested in the company for 152,661 shares. Kbc Group Nv accumulated 8,245 shares or 0% of the stock. Moreover, Magnetar Financial Limited Liability Co has 0.75% invested in Plains GP Holdings LP (NYSE:PAGP) for 3.83M shares. Moreover, Swiss Bank & Trust has 0.01% invested in Plains GP Holdings LP (NYSE:PAGP) for 707,400 shares. Jefferies Ltd Liability Co accumulated 160,000 shares or 0.01% of the stock. Moreover, Oppenheimer Incorporated has 0% invested in Plains GP Holdings LP (NYSE:PAGP) for 11,244 shares. Tide Point Management Ltd Partnership has 1.78% invested in the company for 2.25M shares. Winslow Evans & Crocker Inc holds 0% or 1,500 shares in its portfolio. Blackrock Japan Ltd has 318,436 shares for 0.01% of their US portfolio. Pictet Asset Ltd holds 0% of its portfolio in Plains GP Holdings LP (NYSE:PAGP) for 76,200 shares. Blackrock Grp Limited last reported 0.01% of its portfolio in the stock. Moreover, Sei Investments Com has 0.02% invested in Plains GP Holdings LP (NYSE:PAGP) for 253,050 shares. Blackrock Advsr Ltd Liability Corporation holds 164,185 shares or 0% of its portfolio. Metropolitan Life New York has 295,000 shares for 0.02% of their US portfolio. William Harris Investors accumulated 0.05% or 17,400 shares.

More recent Plains GP Holdings LP (NYSE:PAGP) news were published by: Businesswire.com which released: “Plains All American Pipeline, L.P. and Plains GP Holdings, L.P. Announce …” on November 15, 2016. Also Investorplace.com published the news titled: “Time to Find The Value In Plains GP Holdings LP (PAGP)” on October 18, 2016. Businesswire.com‘s news article titled: “Plains All American Pipeline, L.P. and Plains GP Holdings Announce Successful …” with publication date: July 11, 2016 was also an interesting one.

PAGP Company Profile

Plains GP Holdings, L.P. (PAGP), incorporated on July 17, 2013, owns an interest in the general partner and incentive distribution rights (IDRs) of Plains All American Pipeline, L.P (PAA). The Firm has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. PAA conducts its activities through three divisions: Transportation, Facilities, and Supply and Logistics. Through its three business divisions, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas. The majority of its activities are focused on crude oil, which is the principal feedstock used by refineries in the production of transportation fuels.

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