Bullish options flow was detected in PAGP stock on January 3, 2020.
On December 19, 2019, wank Capital, LLC and Cushing® Asset Management, announced an upcoming interim change to the constituents of The Cushing® Transportation Index. The Cushing® 30 MLP Index announced that after the market closes on December 27, 2019, and effective on December 30, 2019, Index constituent Tallgrass Energy, LP (NYSE: TGE) will be removed from the Sub-Index and replaced with Plains GP Holdings, L.P. (NYSE: PAGP). Consequently, per the Index’s Methodology Guide, after the market closes on December 27, 2019, and effective on December 30, 2019, PAGP will replace TGE in the Index at TGE’s then-current weight.
The addition of PAGP to the Cushing Transportation Index has opened the comany’s stock up to new money from ETFs.
On December 9, 2019, Goldman Sachs analyst Michael Lapides initiated coverage of Plains GP Holdings with a Neutral rating and $18 price target. Declining tariffs will create lower returns on newbuild pipelines due to a surplus of Permian takeaway capacity, Lapides tells investors in a research note. Further, the analyst expects elevated capital spending in 2020, with significant improvements in cash flow in 2021 and beyond as new pipelines come online.
On December 2, 2019, Baird analyst Ethan Bellamy upgraded Plains GP Holdings to Outperform from Neutral with a $21 price target.
On November 19, 2019, insider Everardo Goyanes (director) disclosed in a regulatory filing that he had purchased 20,000 shares of company stock at $17.91 per share on November 18. The total transaction value of the purchase was $358,294.