BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 50.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,505 shares of the pipeline company’s stock after selling 127,840 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.08% of Plains Group Holdings, L.P. worth $3,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 worth $1,097,000 after buying an additional 20,851 shares during the period. 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 worth $426,000 after buying an additional 2,700 shares during the period. Investment House LLC purchased a new position in Plains Group Holdings, L.P. during the first quarter worth about $2,614,000. Hartree Partners LP purchased a new position in Plains Group Holdings, L.P. during the first quarter worth about $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 worth $34,278,000 after buying an additional 157,842 shares during the period. Institutional investors own 81.77% of the company’s stock.

Shares of Plains Group Holdings, L.P. (NYSE PAGP) opened at 20.58 on Thursday. Plains Group Holdings, L.P. has a 12-month low of $19.60 and a 12-month high of $36.59. The firm’s market cap is $3.16 billion. The firm’s 50-day moving average is $24.66 and its 200-day moving average is $28.21.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.04. Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.69%. The business had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the company posted $0.29 EPS. Plains Group Holdings, L.P.’s revenue for the quarter was up 22.8% on a year-over-year basis. Analysts predict that Plains Group Holdings, L.P. will post $0.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.69%. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is 333.50%.

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PAGP has been the subject of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th. Deutsche Bank AG cut their target price on shares of Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 30th. Bank of America Corporation initiated coverage on shares of Plains Group Holdings, L.P. in a research note on Thursday, August 3rd. They issued a “neutral” rating and a $29.00 target price for the company. Jefferies Group LLC reiterated a “hold” rating on shares of Plains Group Holdings, L.P. in a research note on Friday, June 23rd. Finally, Raymond James Financial, Inc. upgraded shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Monday, May 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Plains Group Holdings, L.P. has a consensus rating of “Hold” and a consensus target price of $27.50.

In other Plains Group Holdings, L.P. news, Chairman Greg L. Armstrong acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was bought at an average price of $21.53 per share, with a total value of $1,076,500.00. Following the purchase, the chairman now owns 700,625 shares of the company’s stock, valued at $15,084,456.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard K. Mcgee acquired 2,500 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average cost of $21.08 per share, with a total value of $52,700.00. The disclosure for this purchase can be found here. Insiders bought a total of 122,500 shares of company stock valued at $2,724,700 in the last ninety days. 39.93% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Plains Group Holdings, L.P. (NYSE:PAGP)

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