Plains GP Holdings LP (NASDAQ: PAGP)’s stock price has soared by 0.59 in relation to previous closing price of 18.80. Nevertheless, the company has seen a gain of 1.34% in its stock price over the last five trading days. zacks.com reported 2024-07-25 that Does Plains GP Holdings (PAGP) have what it takes to be a top stock pick for momentum investors? Let’s find out.
Is It Worth Investing in Plains GP Holdings LP (NASDAQ: PAGP) Right Now?
The price-to-earnings ratio for Plains GP Holdings LP (NASDAQ: PAGP) is above average at 22.94x. The 36-month beta value for PAGP is also noteworthy at 1.50. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 6 rating it as “overweight,” 8 rating it as “hold,” and 0 rating it as “sell.”
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The public float for PAGP is 191.62M, and at present, short sellers hold a 4.27% of that float. The average trading volume of PAGP on August 22, 2024 was 1.35M shares.
PAGP’s Market Performance
PAGP’s stock has seen a 1.34% increase for the week, with a -2.07% drop in the past month and a 3.33% gain in the past quarter. The volatility ratio for the week is 1.52%, and the volatility levels for the past 30 days are at 2.21% for Plains GP Holdings LP The simple moving average for the last 20 days is 1.12% for PAGP’s stock, with a simple moving average of 7.81% for the last 200 days.
Analysts’ Opinion of PAGP
Many brokerage firms have already submitted their reports for PAGP stocks, with Scotiabank repeating the rating for PAGP by listing it as a “Sector Outperform.” The predicted price for PAGP in the upcoming period, according to Scotiabank is $23 based on the research report published on April 08, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see PAGP reach a price target of $13.50. The rating they have provided for PAGP stocks is “Sell” according to the report published on October 06th, 2023.
Barclays gave a rating of “Underweight” to PAGP, setting the target price at $15 in the report published on September 25th of the previous year.
PAGP Trading at 0.42% from the 50-Day Moving Average
After a stumble in the market that brought PAGP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.92% of loss for the given period.
Volatility was left at 2.21%, however, over the last 30 days, the volatility rate increased by 1.52%, as shares sank -0.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.48% upper at present.
During the last 5 trading sessions, PAGP rose by +1.07%, which changed the moving average for the period of 200-days by +16.13% in comparison to the 20-day moving average, which settled at $18.69. In addition, Plains GP Holdings LP saw 18.56% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PAGP starting from Chiang Willie CW, who purchase 62,000 shares at the price of $16.24 back on Sep 28 ’23. After this action, Chiang Willie CW now owns 318,704 shares of Plains GP Holdings LP, valued at $1,006,694 using the latest closing price.
Stock Fundamentals for PAGP
Current profitability levels for the company are sitting at:
- 0.03 for the present operating margin
- 0.05 for the gross margin
The net margin for Plains GP Holdings LP stands at 0.01. The total capital return value is set at 0.07. Equity return is now at value 10.60, with 0.57 for asset returns.
Based on Plains GP Holdings LP (PAGP), the company’s capital structure generated 0.84 points at debt to capital in total, while cash flow to debt ratio is standing at 0.27. The debt to equity ratio resting at 5.35. The interest coverage ratio of the stock is 9.0.
Currently, EBITDA for the company is 2.43 billion with net debt to EBITDA at 3.07. When we switch over and look at the enterprise to sales, we see a ratio of 0.23. The receivables turnover for the company is 11.85for trailing twelve months and the total asset turnover is 1.74. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.00.
Conclusion
In summary, Plains GP Holdings LP (PAGP) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
