Penserra Capital Management LLC purchased a new stake in shares of Plains Group Holdings, L.P. (NYSE:PAGP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,939 shares of the pipeline company’s stock, valued at approximately $103,000.

A number of other large investors have also bought and sold shares of the stock. Texas Yale Capital Corp. raised its stake in Plains Group Holdings, L.P. by 6.1% in the first quarter. Texas Yale Capital Corp. now owns 69,853 shares of the pipeline company’s stock valued at $2,179,000 after buying an additional 4,000 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Plains Group Holdings, L.P. during the first quarter valued at approximately $1,778,000. Princeton Alpha Management LP acquired a new stake in Plains Group Holdings, L.P. during the first quarter valued at approximately $353,000. TIAA CREF Trust Co. FSB MO acquired a new stake in Plains Group Holdings, L.P. during the first quarter valued at approximately $1,944,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Plains Group Holdings, L.P. by 21.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 436,977 shares of the pipeline company’s stock valued at $13,660,000 after buying an additional 76,989 shares during the last quarter. 83.15% of the stock is currently owned by institutional investors.

Shares of Plains Group Holdings, L.P. (NYSE:PAGP) opened at 21.43 on Wednesday. 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 $3.29 billion. The firm has a 50-day moving average of $24.37 and a 200-day moving average of $28.07.

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 consensus estimate of $0.20 by $0.04. The company had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The company’s revenue was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. On average, equities analysts forecast that Plains Group Holdings, L.P. will post $1.04 earnings per share for the current fiscal year.

The business 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 annualized dividend and a dividend yield of 10.27%. Plains Group Holdings, L.P.’s payout ratio is 333.50%.

WARNING: “3,939 Shares in Plains Group Holdings, L.P. (PAGP) Acquired by Penserra Capital Management LLC” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/08/30/3939-shares-in-plains-group-holdings-l-p-pagp-acquired-by-penserra-capital-management-llc.html.

Several equities research analysts have recently issued reports on PAGP shares. Bank of America Corporation set a $22.00 target price on shares of Plains Group Holdings, L.P. and gave the stock a “hold” rating in a research note on Monday. Stifel Nicolaus lowered their target price on shares of Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, May 10th. Deutsche Bank AG lowered their target price on shares of Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 30th. Raymond James Financial, Inc. raised shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research note on Monday, May 22nd. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Plains Group Holdings, L.P. in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.00.

In related news, Director Everardo Goyanes acquired 20,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $21.25 per share, for a total transaction of $425,000.00. Following the completion of the purchase, the director now owns 42,305 shares in the company, valued at approximately $898,981.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard K. Mcgee acquired 2,500 shares of the stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $21.08 per share, for a total transaction of $52,700.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 122,500 shares of company stock worth $2,724,700. 39.93% of the stock is currently owned by corporate insiders.

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.

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

Receive News & Stock Ratings for Plains Group Holdings L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains Group Holdings L.P. and related stocks with our FREE daily email newsletter.