Plains GP Holdings L.P. (NASDAQ:PAGP) saw an upside of 0.51% to close Monday at $15.73 after adding $0.08 on the day. The 5-day average trading volume is 3,109,680 shares of the company’s common stock. It has gained $15.85 in the past week and touched a new high 2 times within the past 5 days. An average of 2,984,920 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,681,916.
PAGP’s 1-month performance is 4.73% or $0.71 on its low of $14.97 reached on 07/10/23. The company’s shares have touched a 52-week low of $10.45 and high of $15.92, with the stock’s rally to the 52-week high happening on 07/24/23. YTD, PAGP has achieved 26.45% or $3.29 and has reached a new high 37 times. However, the current price is down -1.19% from the 52-week high price.
Valuation Metrics
PAGP stock has a beta of 1.59. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.05 while the price-to-book (PB) in the most recent quarter is 1.98, with the price to cash flow ratio at 1.68.
Plains GP Holdings L.P.’s quick ratio for the period ended March 30 was 0.90, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending March 30 was 4.72, while the total debt to equity was 5.18. In terms of profitability, the gross margin trailing 12 months is 7.60%. The trailing 12-month EBITDA margin is 3.99% while for the period ending March 30, Plains GP Holdings L.P.’s operating margin was 2.90%. The firm’s gross profit as reported stood at $2.85 billion against revenue of $57.34 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 68.12% to $69.0 million, while revenue of $44.0 million was 36.23% off the previous quarter. Analysts expected PAGP to announce $0.56 per share in earnings in its latest quarter, but it posted $1.46, representing a 160.70% surprise. EBITDA for the quarter stood at more than $728.0 million. PAGP stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 13.97 billion, with total debt at $8.3 billion. Shareholders hold equity totaling $194.41 million.
Let’s look briefly at Plains GP Holdings L.P. (PAGP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 60.46% to suggest the stock is trending Neutral, with historical volatility in this time period at 19.53%.
The stock’s 5-day moving average is $15.48, reflecting a +0.25% or $0.04 change from its current price. PAGP is currently trading +3.76% above its 20-day SMA, +20.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +10.85% and SMA200 by+28.83%.
Stochastic %K and %D was 61.44% and 45.39% and the average true range (ATR) pointed at 0.28. The RSI (14) points at 60.91%, while the 14-day stochastic is at 77.38% with the period’s ATR at 0.28. The stock’s 9-day MACD Oscillator is pointing at 0.01 and -0.01 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Plains GP Holdings L.P. (NASDAQ: PAGP), Raymond James upgraded it to a Strong buy rating. They previously had an Outperform rating on the stock. Analysts offering their rating for PAGP stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate PAGP as a “sell,”, while 5 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 8 have offered a “buy” rating.
What is PAGP’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $14.00 and a high of $23.00, with their median price target at $17.50. Looking at these predictions, the average price target given by analysts is for Plains GP Holdings L.P. (PAGP) stock is $17.17.
