Plains Group Holdings L.P. (PAGP): Price Target and June Short Interest Disclosure

Plains Group Holdings L.P. (PAGP) : The highest short term price target forecast on Plains Group Holdings L.P. (PAGP) is $12 and the lowest target price is $5. A total of 14 equity analysts are currently covering the company. The average price of all the analysts is $9.89 with a standard deviation of $1.75.

Plains Group Holdings L.P. (PAGP) has witnessed a rise of 1.7% or 149,831 shares in its short figure. The short interest augmentation took it from 8,821,701 on June 15,2016 to 8,971,532 on June 30,2016. In terms of floated shares, the short interest was calculated to be 3.4%. The days to cover are 3 given that the daily volume averaged 3,319,731 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Brokerage firm Evercore ISI downgrades its rating on Plains Group Holdings L.P. (NYSE:PAGP). As per the latest information, the brokerage house raises the price target to $10 per share from a prior target of $9. The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on July 7, 2016.


Plains Group Holdings L.P. (NYSE:PAGP): stock turned positive on Thursday. Though the stock opened at $11.03, the bulls momentum made the stock top out at $11.28 level for the day. The stock recorded a low of $10.81 and closed the trading day at $11.21, in the green by 2.75%. The total traded volume for the day was 4,817,879. The stock had closed at $10.91 in the previous days trading.

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.

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