Plains Group Holdings, L.P. (NYSE:PAGP) was upgraded by research analysts at UBS AG from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Monday.

Other analysts have also issued research reports about the company. BidaskClub raised Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Scotiabank set a $37.00 price objective on Plains Group Holdings, L.P. and gave the stock a “hold” rating in a report on Friday, July 21st. Robert W. Baird lowered Plains Group Holdings, L.P. from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $23.00 in a report on Tuesday, August 8th. Zacks Investment Research raised Plains Group Holdings, L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $32.00 target price on shares of Plains Group Holdings, L.P. in a research report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.00.

Shares of Plains Group Holdings, L.P. (NYSE:PAGP) opened at 21.43 on Monday. The stock has a 50 day moving average price of $24.37 and a 200 day moving average price of $28.07. The firm’s market cap is $3.29 billion. Plains Group Holdings, L.P. has a 12-month low of $19.60 and a 12-month high of $36.59.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The firm had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue was up 22.8% on a year-over-year basis. On average, equities analysts expect that Plains Group Holdings, L.P. will post $1.03 earnings per share for the current year.

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In other news, Chairman Greg L. Armstrong bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average cost of $21.53 per share, for a total transaction of $1,076,500.00. Following the completion of the transaction, the chairman now owns 700,625 shares of the company’s stock, valued at $15,084,456.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Everardo Goyanes bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $21.25 per share, for a total transaction of $425,000.00. Following the completion of the transaction, the director now directly owns 42,305 shares of the company’s stock, valued at approximately $898,981.25. The disclosure for this purchase can be found here. Insiders bought 122,500 shares of company stock worth $2,724,700 over the last 90 days. Company insiders own 39.93% of the company’s stock.

Several large investors have recently bought and sold shares of the company. DnB Asset Management AS increased its stake 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 in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Plains Group Holdings, L.P. during the first quarter worth approximately $966,000. Russell Investments Group Ltd. increased its stake in Plains Group Holdings, L.P. by 88.2% in the first quarter. Russell Investments Group Ltd. now owns 593,393 shares of the pipeline company’s stock worth $18,539,000 after buying an additional 278,051 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Plains Group Holdings, L.P. by 69.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,906 shares of the pipeline company’s stock worth $340,000 after buying an additional 4,473 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Plains Group Holdings, L.P. by 47.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,961 shares of the pipeline company’s stock worth $468,000 after buying an additional 4,800 shares in the last quarter. Institutional investors own 83.15% 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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