Barclays Assumes Plains GP Holdings LP to Overweight

Brokerage firm Barclays Assumes its rating on Plains GP Holdings LP(NYSE:PAGP). The shares have been rated Overweight. The rating by Barclays was issued on Apr 12, 2016.

In a different note, On Apr 1, 2016, Piper Jaffray said it Assumes its rating on Plains GP Holdings LP. The shares have been rated ‘Neutral’ by the firm. On Feb 10, 2016, Credit Suisse said it Downgrades its rating on Plains GP Holdings LP. In the research note, the firm Lowers the price-target to $14.00 per share. The shares have been rated ‘Neutral’ by the firm. On Feb 9, 2016, Bank of America said it Downgrades its rating on Plains GP Holdings LP. The shares have been rated ‘Neutral’ by the firm. On Feb 8, 2016, Baird said it Downgrades its rating on Plains GP Holdings LP. The shares have been rated ‘Underperform’ by the firm.

Plains GP Holdings LP (PAGP) shares turned negative on Fridays trading session with the shares closing down -0.04 points or -0.46% at a volume of 21,19,911. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.1. The peak price level was also seen at $9.1 while the days lowest was $8.6. Finally the shares closed at $8.73. The 52-week high of the shares is $29.865 while the 52-week low is $4.72. According to the latest information available, the market cap of the company is $5,421 M.

Plains GP Holdings LP(PAGP) last announced its earnings results on Feb 8, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $5.00B. Analysts had an estimated revenue of $8.62B. Earnings per share were $0.11. Analysts had estimated an EPS of $0.14.

Several Insider Transactions has been reported to the SEC. On Feb 10, 2016, Greg L Armstrong (CEO) purchased 1,000,000 shares at $5.86 per share price.Also, On Feb 10, 2016, Harry N Pefanis (COO) purchased 20,000 shares at $5.75 per share price.On Dec 23, 2015, John T Raymond (director) purchased 423,954 shares at $7.40 per share price, according to the Form-4 filing with the securities and exchange commission.

Plains GP Holdings L.P. (PAGP) owns an interest in the general partner and incentive distribution rights of Plains All American Pipeline L.P (PAA). The Company 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’s operational segments include Transportation Facilities and Supply and Logistics. The transportation segment operations consist of fee-based activities associated with transporting crude oil and NGL on pipelines gathering systems trucks and barges. The facilities segment operations consist of fee-based activities associated with providing storage terminalling and throughput services for crude oil refined products NGL and natural gas. The supply and logistics segment operations consist of merchant-related activities.

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