Raymond James Financial, Inc. upgraded shares of Plains Group Holdings, L.P. (NYSE:PAGP) from an outperform rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage currently has $24.00 price objective on the pipeline company’s stock.

Other analysts have also issued research reports about the stock. BMO Capital Markets reissued a hold rating and issued a $32.00 price objective on shares of Plains Group Holdings, L.P. in a research report on Wednesday, May 24th. UBS AG upgraded shares of Plains Group Holdings, L.P. from a market perform rating to an outperform rating in a report on Monday, May 22nd. Stifel Nicolaus decreased their price objective on shares of Plains Group Holdings, L.P. from $34.00 to $30.00 and set a hold rating on the stock in a report on Wednesday, May 10th. Deutsche Bank AG decreased their price objective on shares of 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, BidaskClub upgraded shares of Plains Group Holdings, L.P. from a hold rating to a buy rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Plains Group Holdings, L.P. has a consensus rating of Hold and an average price target of $27.94.

Shares of Plains Group Holdings, L.P. (NYSE PAGP) opened at 22.48 on Monday. The company’s 50-day moving average is $23.87 and its 200 day moving average is $27.76. The firm’s market capitalization is $3.45 billion. Plains Group Holdings, L.P. has a 1-year low of $19.60 and a 1-year 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 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 firm had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were given a $0.55 dividend. The ex-dividend date was Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a yield of 9.79%. Plains Group Holdings, L.P.’s payout ratio is 333.50%.

In other Plains Group Holdings, L.P. news, Director Everardo Goyanes bought 20,000 shares of Plains Group Holdings, L.P. stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average cost of $21.25 per share, with a total value of $425,000.00. Following the completion of the purchase, the director now owns 42,305 shares of the company’s stock, valued at $898,981.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard K. Mcgee bought 2,500 shares of Plains Group Holdings, L.P. stock in a transaction dated Thursday, August 10th. The shares were acquired at an average cost of $21.08 per share, for a total transaction of $52,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 122,500 shares of company stock valued at $2,724,700 in the last 90 days. 39.93% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new stake in shares of Plains Group Holdings, L.P. during the second quarter valued at $103,000. The Manufacturers Life Insurance Company boosted its stake in Plains Group Holdings, L.P. by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock worth $109,000 after buying an additional 428 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in Plains Group Holdings, L.P. by 1.7% in the first quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the pipeline company’s stock worth $195,000 after buying an additional 103 shares in the last quarter. Searle & CO. bought a new stake in Plains Group Holdings, L.P. during the second quarter worth approximately $209,000. Finally, Shell Asset Management Co. boosted its stake in Plains Group Holdings, L.P. by 110.8% in the second quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock worth $209,000 after buying an additional 4,202 shares in the last quarter. 83.15% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Plains Group Holdings, L.P. (NYSE:PAGP)

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