[Insider Monkey] Plains GP Holdings, L.P. (NYSE:PAGP)(TREND ANALYSIS) Is Plains GP Holdings LP (NYSE:PAGP) a great stock to buy now? The smart money is getting more bullish. The number of long hedge fund positions moved up by 4 in recent months.
Hedge fund activity in Plains GP Holdings LP (NYSE:PAGP)
At the end of the third quarter, a total of 27 of the hedge funds tracked by Insider Monkey were bullish in this stock, a change of 17% from the previous quarter. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were boosting their holdings meaningfully.
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Plains GP Holdings, L.P. (NYSE:PAGP) stock is currently trading 61.17% below its 52-week-high, 11.43% above its 52-week-low. The 1-year stock price history is in the range of $10.41 – $29.87. Plains GP Holdings, L.P. (PAGP) has a price to earnings ratio of 23.43 versus Basic Materials sector average of 35.9. PAGP stock price has underperformed the S&P 500 by 56.4%. The Oil & Gas Midstream company is currently valued at $2.64 billion and its share price closed the last trading session at $11.6. The stock has a 50-day moving average of $15.25 and a 200-day moving average of $21.22.
Plains GP Holdings, L.P. (PAGP) current short interest stands at 5.71 million shares. It has increased by 16% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 4.23 million shares, the number of days required to cover the short positions stand at 1.4 days.
PAGP reported last quarter earnings on November 03. The Oil & Gas Midstream company announced earnings per share of $0.14 against a consensus Street estimate of $0.17, missing estimate by $0.03. This corresponds to an increase of $0.07 compared to the same quarter of the previous fiscal year.
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There are currently twenty-four analysts that cover Plains GP Holdings, L.P. stock. Of those twenty-four, thirteen have a Buy rating, eleven have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $19.27.
A recent analyst activity consisted of Deutsche Bank reiterating their Hold stance on November 18. Deutsche Bank decreased price target from $20 to $13. This corresponds to a 12.07% upside from the last closing price. On the date of report, the stock closed at $11.37.
From an income perspective, Plains GP Holdings, L.P. (PAGP) has a dividend yield of 8.66%. The dividend has remained flat over the last 5 years and the payout ratio stands at the high level of 509.22%.
Another research firm was Stifel Nicolaus who reiterated their Buy stance on November 5. Stifel Nicolaus decreased price target from $22 to $16. This translates to a 37.93% upside from the last closing price. On the date of report, the stock closed at $12.4.
Company snapshot
Plains GP Holdings, L.P., through its 22.1% limited partner interest in Plains AAP, L.P., is engaged in the transportation, storage, terminalling, and marketing of crude oil, refined products, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment is involved in transporting crude oil and NGL on pipelines, gathering systems, trucks, and barges. As of December 31, 2013, this segment had owned and leased assets comprising 16,900 miles of active crude oil and NGL pipelines and gathering systems; 24 million barrels of active, above-ground tank capacity; 744 trailers; and 130 transport and storage barges, as well as 62 transport tugs. The Facilities segment provides storage, terminalling, and throughput services for crude oil, refined products, NGL, and natural gas; NGL fractionation and isomerization services; and natural gas and condensate processing services. As of December 31, 2013, this segment owned and operated approximately 74 million barrels of crude oil and refined products storage capacity; 23 million barrels of NGL storage capacity; 97 billion cubic feet of natural gas storage working capacity; 17 billion cubic feet of base gas; 11 natural gas processing plants; 1 condensate stabilization facility; 7 fractionation plants; 24 crude oil and NGL rail terminals; and 1,250 miles of active pipelines. The Supply and Logistics segment is involved in merchant-related activities, such as purchase of crude oil, cargos, NGL; storage of inventory and NGL; and resell or exchange, and transport of crude oil and NGL. As of December 31, 2013, it owned 12 million barrels of crude oil and NGL line fill; 843 trucks and 982 trailers; and 7,400 crude oil and NGL railcars. PAA GP Holdings LLC operates as a general partner of the company. Plains GP Holdings, L.P. was founded in 2013 and is based in Houston, Texas.
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