Why GoDaddy, Agrium, and Other Stocks Are Trending on Wednesday

Analysts Give the thumbs up to Agrium 

Agrium Inc. (USA) (NYSE:AGU) is in the spotlight today after analysts at UBS reiterated their ‘Buy’ rating on Agrium and raised their target price to $102 per share from $93 per share. The analysts think, ‘fertilizer markets are bottoming as Ag fundamentals and crop prices improve’. If the bottom is close or in, Agrium’s free cash flow could be higher than expected and its stock could rally. Among the funds we track, 23 funds owned $452.49 million worth of Agrium Inc. (USA) (NYSE:AGU)’s stock, which accounted for 3.70% of the float on March 31, versus 22 funds and $1.2 billion, respectively, a quarter earlier.

ConocoPhillips Pipeline Leaks

A ConocoPhillips (NYSE:COP) pipeline has leaked around 2,400 barrels on ultra-light crude, potentially threatening an endangered grizzly bear and caribou range in Canada’s  Alberta province, Canada. To protect the environment, the province’s government has shut down the pipeline and is investigating the reason for the leak. ConocoPhillips shares are unchanged in pre-market trading as traders focus more on today’s EIA numbers and the dollar’s movements after the FOMC meeting. The number funds from our database with holdings in ConocoPhillips (NYSE:COP) rose by 14 quarter-over-quarter to 45 at the end of March.

Green Plains Partners Up With Fortress

Green Plains Inc (NASDAQ:GPRE) has entered into a joint venture with a subsidiary of Fortress Transportation and Infrastructure Investors LLC to build and operate an intermodal import/export fuel terminal in Beaumont, Texas. The venture will be 50/50 owned and is expected to cost around $55 million in its first phase of development. If successful, the venture could help Green Plains increase its revenue and EBITDA. Shares of Green Plains are down by 18% year-to-date and could use a little good news. A total of 21 funds tracked by Insider Monkey owned shares of Green Plains Inc (NASDAQ:GPRE) at the end of March, up by four funds from the previous quarter.

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