Wells Fargo upgraded Plains GP (NYSE:PAGP) from Market Perform to Outperform in a report released today.
- Updated: October 5, 2016
Yesterday Plains GP (NYSE:PAGP) traded 4.11% higher at $12.77. The company’s 50-day moving average is $11.83 and its 200-day moving average is $10.41. The last closing price is up 27.70% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 572,215 shares of the stock traded hands, down from an average trading volume of 2,828,140
Wells Fargo has upgraded Plains GP (NYSE:PAGP) from Market Perform to Outperform in a report released on 10/05/2016.
Previously on 10/04/2016, Morgan Stanley reported on Plains GP (NYSE:PAGP) increased the target price from $12.50 to $14.00. At the time, this indicated a possible upside of 0.09%.
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Plains GP has a 52 week low of $4.72 and a 52 week high of $19.49 with a P/E ratio of 23.91 The company’s market cap is currently $0.
In addition to Wells Fargo reporting its stock price target, a total of 22 brokers have issued a research note on the company. The average stock price target is $10.70 with 4 brokers rating the stock a strong buy, 3 brokers rating the stock a buy, 17 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell.
General Information About Plains GP (NYSE:PAGP)
Plains GP Holdings, L.P. (PAGP) owns an interest in the general partner and incentive distribution rights (IDRs) 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 conducts its operations through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas. The majority of its activities are focused on crude oil, which is the principal feedstock used by refineries in the production of transportation fuels.
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