Plains GP Holdings LP (PAGP) is Downgraded by Barclays to Equal Weight, Raises Price Target to $ 11

Plains GP Holdings LP (PAGP) was Downgraded by Barclays to ” Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 11 from a previous price target of $8 . Earlier the firm had a rating of “Overweight ” on the company shares. Barclays advised their investors in a research report released on Jul 8, 2016.

Many Wall Street Analysts have commented on Plains GP Holdings LP. Plains GP Holdings LP was Initiated by SunTrust to “Neutral” on Jun 15, 2016.

On the company’s financial health, Plains GP Holdings LP reported $0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.17. The company had revenue of $4111.00 million for the quarter, compared to analysts expectations of $6507.92 million. The company’s revenue was down -30.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.14 EPS.

Plains GP Holdings LP closed down -0.49 points or -4.61% at $10.14 with 22,38,944 shares getting traded on Tuesday. Post opening the session at $10.4, the shares hit an intraday low of $9.84 and an intraday high of $10.46 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Feb 10, 2016, Greg L Armstrong (CEO) purchased 1,000,000 shares at $5.86 per share price. According to the SEC, 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.

Plains GP Holdings LP

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