Plains GP Holdings LP (PAGP) was Reiterated by Scotia Howard Weil to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 14 from a previous price target of $10 . Scotia Howard Weil advised their investors in a research report released on Oct 10, 2016.
Many Wall Street Analysts have commented on Plains GP Holdings LP. Plains GP Holdings LP was Upgraded by Wells Fargo to ” Outperform” on Oct 5, 2016. Company shares were Reiterated by Wunderlich on Aug 31, 2016 to “Hold”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .Company shares were Upgraded by Robert W. Baird on Jul 13, 2016 to ” Neutral”, Firm has raised the Price Target to $ 12 from a previous price target of $5 .
On the company’s financial health, Plains GP Holdings LP reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.16. The company had revenue of $4950.00 million for the quarter, compared to analysts expectations of $4788.80 million. The company’s revenue was down -25.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.
Plains GP Holdings LP closed down -0.05 points or -0.38% at $13.03 with 15,98,786 shares getting traded on Friday. Post opening the session at $13.12, the shares hit an intraday low of $12.9 and an intraday high of $13.16 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Investors should note that on Sep 30, 2016, Plains GP Holdings LP announced a cash dividend of $0.2065. The company’s management has announced Oct 27, 2016 as the ex-dividend date and fixed the record date on Oct 31, 2016. The payable date has been fixed on Nov 14, 2016.
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.