BidaskClub upgraded shares of Plains Group Holdings, L.P. (NYSE:PAGP) from a sell rating to a hold rating in a research note issued to investors on Thursday, July 6th.

Several other analysts have also recently commented on PAGP. UBS AG raised Plains Group Holdings, L.P. from a market perform rating to an outperform rating in a research report on Monday, May 22nd. Jefferies Group LLC reaffirmed a hold rating on shares of Plains Group Holdings, L.P. in a research report on Friday, June 23rd. BMO Capital Markets reaffirmed a hold rating and issued a $32.00 target price on shares of Plains Group Holdings, L.P. in a research report on Wednesday, May 24th. Wolfe Research reaffirmed a market perform rating on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Finally, Zacks Investment Research raised Plains Group Holdings, L.P. from a hold rating to a buy rating and set a $35.00 target price for the company in a research report on Wednesday, April 12th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $29.53.

Plains Group Holdings, L.P. (NYSE PAGP) traded down 0.83% during trading on Thursday, reaching $26.27. The company had a trading volume of 839,058 shares. Plains Group Holdings, L.P. has a 12 month low of $23.33 and a 12 month high of $36.59. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 63.00 and a beta of 1.48. The stock has a 50 day moving average price of $26.00 and a 200 day moving average price of $29.44.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its earnings results on Monday, May 8th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.11. The company had revenue of $6.67 billion during the quarter, compared to analyst estimates of $5.21 billion. Plains Group Holdings, L.P. had a return on equity of 0.90% and a net margin of 0.44%. The business’s revenue was up 62.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. On average, equities research analysts predict that Plains Group Holdings, L.P. will post $1.56 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be given a $0.55 dividend. The ex-dividend date is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.37%. Plains Group Holdings, L.P.’s dividend payout ratio is currently 244.68%.

In related news, Chairman Greg L. Armstrong purchased 50,000 shares of Plains Group Holdings, L.P. stock in a transaction on Wednesday, June 21st. The stock was bought at an average price of $23.41 per share, with a total value of $1,170,500.00. Following the completion of the transaction, the chairman now directly owns 650,625 shares of the company’s stock, valued at $15,231,131.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Greg L. Armstrong purchased 100,000 shares of Plains Group Holdings, L.P. stock in a transaction on Wednesday, May 10th. The stock was bought at an average cost of $27.64 per share, with a total value of $2,764,000.00. Following the transaction, the chairman now directly owns 525,625 shares of the company’s stock, valued at $14,528,275. The disclosure for this purchase can be found here. 39.93% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. KCG Holdings Inc. raised its position in Plains Group Holdings, L.P. by 146.3% in the first quarter. KCG Holdings Inc. now owns 35,104 shares of the pipeline company’s stock worth $1,097,000 after buying an additional 20,851 shares during the last quarter. DnB Asset Management AS raised its position in Plains Group Holdings, L.P. by 24.7% in the first quarter. DnB Asset Management AS now owns 13,616 shares of the pipeline company’s stock worth $426,000 after buying an additional 2,700 shares during the last quarter. Investment House LLC acquired a new position in Plains Group Holdings, L.P. during the first quarter worth approximately $2,614,000. Hartree Partners LP acquired a new position in Plains Group Holdings, L.P. during the first quarter worth approximately $2,345,000. Finally, TIAA CREF Investment Management LLC raised its position in Plains Group Holdings, L.P. by 16.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,096,532 shares of the pipeline company’s stock worth $34,278,000 after buying an additional 157,842 shares during the last quarter. 84.13% of the stock is owned by institutional investors.

About Plains Group Holdings, L.P.

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Analyst Recommendations for Plains Group Holdings, L.P. (NYSE:PAGP)

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