Plains Group Holdings L.P. (NYSE:PAGP) has tumbled 3.03% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.79% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.87%. Plains Group Holdings L.P. (NYSE:PAGP) has underperformed the index by 0.13% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Plains Group Holdings L.P. (NYSE:PAGP): The stock opened at $10.50 on Friday but the bulls could not build on the opening and the stock topped out at $10.56 for the day. The stock traded down to $10.17 during the day, due to lack of any buying support eventually closed down at $10.24 with a loss of -0.78% for the day. The stock had closed at $10.32 on the previous day. The total traded volume was 3,100,890 shares.
The company shares have dropped -61.37% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $27.37 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $9.87 and the 200 Day Moving Average price is recorded at $8.69.
On the companys insider trading activities, Armstrong Greg L, CEO of Plains Gp Holdings Lp, executed a transaction worth $5,860,000 on February 10, 2016. A total of 1,000,000 shares were purchased at an average price of $5.86. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. SunTrust Robinson Humphrey initiates coverage on Plains Group Holdings L.P. (NYSE:PAGP).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, SunTrust Robinson Humphrey announces the price target of $12 per share. The rating by the firm was issued on June 15, 2016. Institutional Investors own 76.2% of Plains Group Holdings L.P. shares. During last six month period, the net percent change held by insiders has seen a change of 500%.
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. PAAs 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.