The stock of Plains GP Holdings L.P. (NASDAQ:PAGP) decreased by -$0.17 on Tuesday to finish at $15.75, down -1.07 percent. The last five days have seen an average of 1,299,640 shares of common stock traded. 38 times new highs were reached in the current year, with a gain of $3.31. The average number of shares traded over the last 20 days was 2,117,060, while the average volume over the last 50 days totaled 2,525,550.
PAGP stock appreciated 3.69% since last month. On 07/17/23, the company’s shares reached a one-month low of $15.05. The stock touched a high of $15.98 on 08/14/23, after rallying from a low of $10.45 in 52 weeks. The price of PAGP stock has risen by 26.61% or $3.31 this year, reaching a new high 38 times. Still, the stock price is down -1.41% from the 52-week high.
Insider Transactions
PAGP stock investors should be aware that Plains GP Holdings L.P. (PAGP) stock had its last reported insider trading activity 100 days ago on May 08. On May 08, Chairman & CEO Chiang Willie CW acquired 75,000 shares at $13.25 each. This transaction resulted in the insider spending $993,525. On Aug 19, DeSanctis Ellen added 10,000 shares at a price of US$11.98. After the transaction, the insider now owns 10,000 shares.
Valuation Metrics
Plains GP Holdings L.P. (PAGP) has a trailing price-to-earnings (P/E) ratio of 13.18. Beta for the stock is 1.58. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.06, the price-to-book (PB) ratio of 1.96, and the price-to-cash flow ratio of 1.27.
Financial Health
For the three months ended June 29, Plains GP Holdings L.P.’s quick ratio was 0.90, while its current ratio was 1.00, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 4.65, and the total debt to equity ratio is 5.10. As far as profitability goes, gross margin for the trailing twelve months is 8.40% percent. Plains GP Holdings L.P.’s EBITDA margin for the year ended June 29 was 3.99%, whereas its operating margin stood at 3.50% for the same period. Based on annual data, it had gross profit of $2.85 billion and revenue of $57.34 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PAGP’s return on assets (ROA) during the last 12 months has been 0.80%. There was a 13.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 15.10%.
Earnings Surprise
According to Plains GP Holdings L.P.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $11.6 billion, while revenues fell by -41.0% to $12.34 billion. It was predicted that Plains GP Holdings L.P.’s quarterly earnings would be $0.25, but it ended up being $0.21, beating the consensus by 19.00%. EBITDA was $635.0 million for the quarter. At the end of Plains GP Holdings L.P.’s most recent quarter ended June 29, its liabilities totaled 13.3 billion, while its total debt was $8.3 billion. Equity owned by shareholders amounts to $195.96 million.
Technical Picture
Here’s a quick look at Plains GP Holdings L.P.’s (PAGP) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 56.08%, suggesting the stock is Neutral, with a 13.37% historical volatility rate.
The stochastic %K and %D were 88.77% and 85.25% respectively, while the average true range (ATR) was 0.24. Based on the 14-day stochastic reading of 74.86%, the RSI (14) reading is 58.25%. On the 9-day MACD Oscillator, the stock is at 0.14, and the 14-day reading is at 0.21.
Analyst Ratings
In its most recent analyst report, Raymond James raised its rating on Plains GP Holdings L.P. (NASDAQ: PAGP) to a Strong buy. Prior to this, analysts firm rated the stock as an Outperform. Analysts have assigned Plains GP Holdings L.P. (PAGP) an Overweight rating. PAGP is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 8 others recommend it as a buy.
What is PAGP’s price target for the next 12 months?
The current consensus forecast for the stock is between $14.00 and $22.00, with a median target price of $17.00. In analyzing these forecasts, the average price target given by analysts for Plains GP Holdings L.P. (PAGP) is $17.12.
