Plains Group Holdings, L.P. (NYSE:PAGP) has been given a consensus recommendation of “Hold” by the twenty-two research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $27.38.

Several brokerages have issued reports on PAGP. Scotiabank set a $37.00 target price on shares of Plains Group Holdings, L.P. and gave the stock a “hold” rating in a research note on Friday, July 21st. BidaskClub raised shares of Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Robert W. Baird cut shares of Plains Group Holdings, L.P. from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $23.00 in a research note on Tuesday, August 8th. Mizuho reaffirmed a “buy” rating and set a $27.00 target price on shares of Plains Group Holdings, L.P. in a research note on Friday. Finally, Zacks Investment Research raised shares of Plains Group Holdings, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th.

Shares of Plains Group Holdings, L.P. (NYSE:PAGP) traded down 2.35% during trading on Wednesday, hitting $20.75. 1,583,101 shares of the company were exchanged. The firm’s market capitalization is $3.18 billion. Plains Group Holdings, L.P. has a 12 month low of $14.44 and a 12 month high of $36.09. The firm’s 50-day moving average price is $22.20 and its 200 day moving average price is $25.35.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its earnings results 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). Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The business had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the firm earned $0.29 EPS. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities research analysts expect that Plains Group Holdings, L.P. will post $1.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.78%. Plains Group Holdings, L.P.’s payout ratio is 333.50%.

In related news, Director Everardo Goyanes bought 20,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were bought 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard K. Mcgee bought 2,500 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was bought 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. In the last three months, insiders have bought 72,500 shares of company stock worth $1,554,200. Corporate insiders own 39.93% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. APG Asset Management N.V. lifted its position in Plains Group Holdings, L.P. by 259.3% in the third quarter. APG Asset Management N.V. now owns 127,064 shares of the pipeline company’s stock valued at $2,779,000 after buying an additional 91,700 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Plains Group Holdings, L.P. in the third quarter valued at about $238,000. Yorkville Capital Management LLC lifted its position in Plains Group Holdings, L.P. by 29.9% in the second quarter. Yorkville Capital Management LLC now owns 14,132 shares of the pipeline company’s stock valued at $370,000 after buying an additional 3,253 shares during the last quarter. Ecofin Ltd. lifted its position in Plains Group Holdings, L.P. by 2.3% in the second quarter. Ecofin Ltd. now owns 97,243 shares of the pipeline company’s stock valued at $2,544,000 after buying an additional 2,150 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in Plains Group Holdings, L.P. by 154.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 45,849 shares of the pipeline company’s stock valued at $1,199,000 after buying an additional 27,858 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors.

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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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