Plains Group Holdings, L.P. (NYSE:PAGP)‘s stock had its “buy” rating restated by analysts at Citigroup Inc. in a report issued on Thursday. They presently have a $28.00 price target on the pipeline company’s stock, down from their previous price target of $33.50. Citigroup Inc.’s price target suggests a potential upside of 33.52% from the stock’s current price.

PAGP has been the topic of several other research reports. Zacks Investment Research raised Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, April 12th. BidaskClub raised Plains Group Holdings, L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $26.00 price target (down previously from $30.00) on shares of Plains Group Holdings, L.P. in a report on Wednesday. Deutsche Bank AG dropped their price target on Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 30th. Finally, UBS AG raised Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating in a report on Monday, May 22nd. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Plains Group Holdings, L.P. currently has a consensus rating of “Hold” and a consensus target price of $28.22.

Shares of Plains Group Holdings, L.P. (NYSE:PAGP) opened at 20.97 on Thursday. The firm has a market cap of $3.19 billion, a PE ratio of 50.29 and a beta of 1.48. The firm’s 50-day moving average price is $25.97 and its 200-day moving average price is $29.12. Plains Group Holdings, L.P. has a one year low of $20.74 and a one year high of $36.59.

Plains Group Holdings, L.P. (NYSE:PAGP) last posted its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.72%. Plains Group Holdings, L.P.’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. Equities research analysts expect that Plains Group Holdings, L.P. will post $1.56 earnings per share for the current fiscal year.

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In related news, Chairman Greg L. Armstrong purchased 50,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $21.53 per share, for a total transaction of $1,076,500.00. Following the acquisition, the chairman now directly owns 700,625 shares in the company, valued at approximately $15,084,456.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Everardo Goyanes purchased 20,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were bought at an average price of $21.25 per share, for a total transaction of $425,000.00. Following the completion of the acquisition, the director now owns 42,305 shares in the company, valued at $898,981.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 120,000 shares of company stock worth $2,672,000. 39.93% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. KCG Holdings Inc. boosted 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 valued at $1,097,000 after buying an additional 20,851 shares in the last quarter. DnB Asset Management AS boosted 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 valued at $426,000 after buying an additional 2,700 shares in the last quarter. Investment House LLC bought a new position in Plains Group Holdings, L.P. during the first quarter valued at approximately $2,614,000. Hartree Partners LP bought a new position in Plains Group Holdings, L.P. during the first quarter valued at approximately $2,345,000. Finally, TIAA CREF Investment Management LLC boosted 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 valued at $34,278,000 after buying an additional 157,842 shares in the last quarter. Institutional investors and hedge funds own 85.09% of the company’s stock.

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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