Plains Group Holdings, L.P. (NYSE:PAGP) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank AG lowered their target price on 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. Mizuho raised Plains Group Holdings, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Monday, July 10th. Raymond James Financial, Inc. set a $24.00 target price on Plains Group Holdings, L.P. and gave the company a “buy” rating in a research note on Wednesday, August 9th. Citigroup Inc. reaffirmed a “buy” rating and set a $28.00 target price (down previously from $33.50) on shares of Plains Group Holdings, L.P. in a research note on Thursday, August 10th. Finally, Jefferies Group LLC raised Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and lowered their target price for the company from $27.00 to $24.00 in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $27.94.

Plains Group Holdings, L.P. (NYSE:PAGP) opened at 22.55 on Friday. Plains Group Holdings, L.P. has a one year low of $19.60 and a one year high of $36.59. The stock’s market capitalization is $3.46 billion. The stock’s 50 day moving average is $23.76 and its 200 day moving average is $27.69.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.04. The company had revenue of $6.08 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. On average, equities analysts forecast that Plains Group Holdings, L.P. will post $1.09 EPS for the current year.

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In other news, Director Everardo Goyanes purchased 20,000 shares of the 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 purchase, the director now owns 42,305 shares in the company, valued at approximately $898,981.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Greg L. Armstrong purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average cost of $23.41 per share, with a total value of $1,170,500.00. Following the purchase, the chairman now owns 650,625 shares in the company, valued at approximately $15,231,131.25. The disclosure for this purchase can be found here. In the last three months, insiders purchased 122,500 shares of company stock valued at $2,724,700. 39.93% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PAGP. Penserra Capital Management LLC acquired a new stake in Plains Group Holdings, L.P. in the 2nd quarter worth approximately $103,000. The Manufacturers Life Insurance Company lifted its holdings in Plains Group Holdings, L.P. by 11.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 428 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Plains Group Holdings, L.P. by 1.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the pipeline company’s stock worth $195,000 after purchasing an additional 103 shares during the last quarter. Searle & CO. acquired a new stake in Plains Group Holdings, L.P. in the 2nd quarter worth approximately $209,000. Finally, Shell Asset Management Co. lifted its holdings in Plains Group Holdings, L.P. by 110.8% in the 2nd quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock worth $209,000 after purchasing an additional 4,202 shares during the last quarter. 83.15% of the stock is owned by institutional investors and hedge funds.

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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