Stifel Nicolaus set a $21.00 target price on Plains Group Holdings, L.P. (NYSE:PAGP) in a report issued on Monday morning. The brokerage currently has a hold rating on the pipeline company’s stock.

A number of other research firms have also recently commented on PAGP. Mizuho raised shares of Plains Group Holdings, L.P. from a neutral rating to a buy rating and set a $30.00 price objective for the company in a research report on Monday, July 10th. BMO Capital Markets raised shares of Plains Group Holdings, L.P. from a market perform rating to an outperform rating and lifted their price objective for the stock from $22.00 to $25.00 in a research report on Monday. Deutsche Bank AG cut shares of Plains Group Holdings, L.P. from a buy rating to a hold rating and reduced their price objective for the stock from $35.00 to $29.00 in a research report on Thursday, July 13th. Bank of America Corporation started coverage on shares of Plains Group Holdings, L.P. in a research report on Thursday, August 3rd. They set a neutral rating and a $29.00 price objective for the company. Finally, BidaskClub cut shares of Plains Group Holdings, L.P. from a buy rating to a hold rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $27.94.

Shares of Plains Group Holdings, L.P. (NYSE PAGP) opened at 22.48 on Monday. Plains Group Holdings, L.P. has a one year low of $19.60 and a one year high of $36.59. The firm has a 50-day moving average of $23.87 and a 200-day moving average of $27.76. The company’s market capitalization is $3.45 billion.

Plains Group Holdings, L.P. (NYSE:PAGP) last released its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, missing the Zacks’ 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 company had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period last year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. Equities research analysts expect that Plains Group Holdings, L.P. will post $1.04 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.20 annualized dividend and a yield of 9.79%. Plains Group Holdings, L.P.’s dividend payout ratio is 333.50%.

In other news, Director Everardo Goyanes acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average price of $21.25 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Greg L. Armstrong acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $21.53 per share, with a total value of $1,076,500.00. Following the transaction, the chairman now directly owns 700,625 shares of the company’s stock, valued at $15,084,456.25. The disclosure for this purchase can be found here. Insiders have purchased 122,500 shares of company stock valued at $2,724,700 in the last ninety days. 39.93% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter valued at approximately $180,285,000. State Street Corp acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter valued at approximately $51,634,000. Canyon Capital Advisors LLC acquired a new position in shares of Plains Group Holdings, L.P. during the second quarter valued at approximately $35,731,000. Massachusetts Financial Services Co. MA increased its position in shares of Plains Group Holdings, L.P. by 82.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,907,764 shares of the pipeline company’s stock valued at $90,897,000 after buying an additional 1,311,319 shares during the last quarter. Finally, HITE Hedge Asset Management LLC increased its position in shares of Plains Group Holdings, L.P. by 1,710.7% in the first quarter. HITE Hedge Asset Management LLC now owns 1,142,511 shares of the pipeline company’s stock valued at $35,715,000 after buying an additional 1,079,413 shares during the last quarter. 83.15% of the stock is owned by hedge funds and other institutional investors.

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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