Plains Group Holdings, L.P. (NYSE:PAGP) was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a report issued on Thursday, July 13th. They presently have a $29.00 price target on the pipeline company’s stock, down from their previous price target of $35.00. Deutsche Bank AG’s price target suggests a potential upside of 37.83% from the stock’s current price.

PAGP has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, April 12th. BidaskClub upgraded shares of Plains Group Holdings, L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. UBS AG upgraded shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating in a report on Monday, May 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price target on shares of Plains Group Holdings, L.P. in a report on Wednesday, May 24th. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Plains Group Holdings, L.P. in a report on Friday, June 23rd. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Plains Group Holdings, L.P. currently has an average rating of “Hold” and a consensus target price of $28.03.

Plains Group Holdings, L.P. (PAGP) opened at 21.04 on Thursday. The company’s 50 day moving average price is $26.12 and its 200 day moving average price is $29.38. The firm has a market capitalization of $3.20 billion, a P/E ratio of 50.46 and a beta of 1.48. Plains Group Holdings, L.P. has a 12 month low of $14.44 and a 12 month high of $36.09.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.20 by $0.04. Plains Group Holdings, L.P. had a return on equity of 0.72% and a net margin of 0.34%. The business had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. Analysts anticipate that Plains Group Holdings, L.P. will post $1.56 EPS for the current year.

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In other news, Chairman Greg L. Armstrong purchased 50,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average cost of $23.41 per share, with a total value of $1,170,500.00. Following the completion of the transaction, the chairman now owns 650,625 shares of the company’s stock, valued at approximately $15,231,131.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 39.93% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PAGP. Chickasaw Capital Management LLC raised its stake in Plains Group Holdings, L.P. by 9.7% in the first quarter. Chickasaw Capital Management LLC now owns 7,160,037 shares of the pipeline company’s stock valued at $223,823,000 after buying an additional 635,626 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new stake in Plains Group Holdings, L.P. during the first quarter valued at about $565,000. Hollencrest Securities LLC purchased a new stake in Plains Group Holdings, L.P. during the first quarter valued at about $234,000. CAPROCK Group Inc. raised its stake in Plains Group Holdings, L.P. by 8.3% in the first quarter. CAPROCK Group Inc. now owns 25,723 shares of the pipeline company’s stock valued at $802,000 after buying an additional 1,978 shares during the period. Finally, Hartford Financial Management Inc. raised its stake in Plains Group Holdings, L.P. by 1.2% in the first quarter. Hartford Financial Management Inc. now owns 10,726 shares of the pipeline company’s stock valued at $334,000 after buying an additional 125 shares during the period. 85.09% of the stock is currently owned by hedge funds and other institutional investors.

Plains Group Holdings, L.P. Company Profile

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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