Plains Group Holdings L.P. (PAGP) : Traders are bullish on Plains Group Holdings L.P. (PAGP) as it has outperformed the S&P 500 by a wide margin of 6.76% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 16.14%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 17.87% in the last 1 week, and is up 11.43% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 9.73% and the 50-Day Moving Average is 12.99%.
Plains Group Holdings L.P. (NYSE:PAGP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $11.28 and $10.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $11.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $11.41, notching a gain of 1.78% for the day. The total traded volume was 2,898,623 . The stock had closed at $11.21 on the previous day.
Institutional Investors own 76.18% of Plains Group Holdings L.P. shares. During last six month period, the net percent change held by insiders has seen a change of 500%. In a related news, Armstrong Greg L, CEO of Plains Gp Holdings Lp, had purchased 1,000,000 shares on February 10, 2016. The total value of the transaction was $5,860,000. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Plains GP Holdings, L.P. (PAGP), owns an interest in the general partner and incentive distribution rights of Plains All American Pipeline, L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. PAAs operational segments include Transportation, Facilities, and Supply and Logistics. The transportation segment operations consist of fee-based activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges. The facilities segment operations consist of fee-based activities associated with providing storage, terminalling and throughput services for crude oil, refined products, NGL and natural gas. The supply and logistics segment operations consist of merchant-related activities.