SunTrust Robinson Humphrey Initiates Coverage on Plains GP Holdings LP to Neutral

SunTrust Robinson Humphrey Initiates Coverage on Plains GP Holdings LP(NYSE:PAGP). The shares have been rated Neutral. The rating by SunTrust Robinson Humphrey was issued on Jun 15, 2016.

In a different note, On May 27, 2016, JP Morgan said it Maintains its rating on Plains GP Holdings LP. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 26, 2016, Morgan Stanley said it Maintains its rating on Plains GP Holdings LP. In the research note, the firm Raises the price-target to $9.50 per share. The shares have been rated ‘Equal-weight’ by the firm. BMO Capital said it Initiates Coverage on Plains GP Holdings LP, according to a research note issued on Apr 19, 2016. The shares have been rated ‘Market Perform’ by the firm. On Apr 1, 2016, Piper Jaffray said it Assumes its rating on Plains GP Holdings LP. The shares have been rated ‘Neutral’ by the firm.

Plains GP Holdings LP (PAGP) made into the market gainers list on Tuesdays trading session with the shares advancing 1.97% or 0.2 points. Due to strong positive momentum, the stock ended at $10.35, which is also near the day’s high of $10.44. The stock began the session at $10.09 and the volume stood at 29,23,371 shares. The 52-week high of the shares is $27.37 and the 52 week low is $4.72. The company has a current market capitalization of $6,459 M and it has 62,40,26,120 shares in outstanding.

Plains GP Holdings LP(PAGP) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $4.11B. Analysts had an estimated revenue of $6.66B. Earnings per share were $0.14. Analysts had estimated an EPS of $0.21.

Several Insider Transactions has been reported to the SEC. On Feb 10, 2016, Greg L Armstrong (CEO) purchased 1,000,000 shares at $5.86 per share price.Also, On Feb 10, 2016, Harry N Pefanis (COO) purchased 20,000 shares at $5.75 per share price.On Dec 23, 2015, John T Raymond (director) purchased 423,954 shares at $7.40 per share price, according to the Form-4 filing with the securities and exchange commission.

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. PAA’s 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.

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