Plains GP Holdings LP (NASDAQ:PAGP) finished Wednesday with an addition of $0.08 to close at $16.04, an upside of 0.50 percent. An average of 3,251,500 shares of common stock have been traded in the last five days. There was a fall of -$0.28 in the past week, and it reached a new high 53 times over the past 12 months. The last 20 days have seen an average of 2,056,645 shares traded, while the 50-day average volume stands at 2,136,996.
PAGP stock has increased by 0.63% in the last month. The company shares reached their 1-month lowest point of $15.48 on 09/07/23. With the stock rallying to its 52-week high on 09/22/23, shares of the company touched a low of $10.46 and a high of $16.70 in 52 weeks. It has reached a new high 49 times so far this year and achieved 28.94% or $3.60 in price. In spite of this, the price is down -3.95% from the 52-week high.
Valuation Metrics
Plains GP Holdings LP (PAGP) has a trailing price-to-earnings (P/E) ratio of 15.56. The stock’s beta is 1.56. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.06, the price-to-book (PB) ratio at 2.00, and the price-to-cash flow ratio at 1.33.
Financial Health
The quick ratio of Plains GP Holdings LP for the three months ended June 29 was 0.92, and the current ratio was 1.00, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 4.84 and a total debt to equity ratio of 5.29 for the quarter ending June 29. Its gross profit as reported stood at $2.85 billion compared to revenue of $57.34 billion.
Earnings Surprise
For the three-month period that ended June 29, Plains GP Holdings LP had $7.24 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $48.0 million in the quarter, while revenues were grew 35.42%. The analyst consensus anticipated Plains GP Holdings LP’s latest quarter earnings to come in at $0.19 per share, but it turned out to be $0.25, a 31.60% surprise. For the quarter, EBITDA amounted to $635.0 million. Shareholders own equity worth $195.96 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Plains GP Holdings LP (PAGP) price momentum. RSI 9-day as of the close on 27 September was 48.75%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.11%.
As of today, PAGP’s price is $16.26 -1.72% or -$0.28 from its 5-day moving average. However, the stock’s current price level is +4.22% above the SMA50 and +30.83% above the SMA200.
The stochastic %K and %D were 51.60% and 67.45%, respectively, and the average true range (ATR) was 0.27. With the 14-day stochastic at 45.34% and the average true range at 0.26, the RSI (14) stands at 51.62%. The stock has reached -0.09 on the 9-day MACD Oscillator while the 14-day reading was at 0.07.
Analyst Ratings
Barclays downgraded Plains GP Holdings LP (NASDAQ: PAGP) to a an Underweight rating in its most recent analyst report. Previously, the stock was rated as an Equal weight.
