Keybank National Association OH boosted its holdings in Plains Group Holdings, L.P. (NYSE:PAGP) by 30.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,069 shares of the pipeline company’s stock after acquiring an additional 13,348 shares during the quarter. Keybank National Association OH’s holdings in Plains Group Holdings, L.P. were worth $1,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PAGP. Penserra Capital Management LLC acquired a new stake in Plains Group Holdings, L.P. in the 2nd quarter valued at approximately $103,000. The Manufacturers Life Insurance Company increased its position 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 valued at $109,000 after acquiring an additional 428 shares during the period. Searle & CO. acquired a new stake in Plains Group Holdings, L.P. in the 2nd quarter valued at approximately $209,000. Shell Asset Management Co. increased its position 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 valued at $209,000 after acquiring an additional 4,202 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in Plains Group Holdings, L.P. in the 1st quarter valued at approximately $211,000. Hedge funds and other institutional investors own 81.43% of the company’s stock.

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Shares of Plains Group Holdings, L.P. (PAGP) opened at $20.88 on Tuesday. The firm has a market capitalization of $3,336.87, a price-to-earnings ratio of 47.89 and a beta of 1.48. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.78 and a current ratio of 1.00. Plains Group Holdings, L.P. has a one year low of $18.98 and a one year high of $38.46.

Plains Group Holdings, L.P. (NYSE:PAGP) last released its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.20). The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.71 billion. Plains Group Holdings, L.P. had a return on equity of 0.50% and a net margin of 0.25%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. research analysts anticipate that Plains Group Holdings, L.P. will post 1.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Monday, October 30th. Plains Group Holdings, L.P.’s dividend payout ratio is presently 266.67%.

Several analysts recently commented on PAGP shares. Bank of America Corporation set a $22.00 target price on Plains Group Holdings, L.P. and gave the company a “hold” rating in a research report on Monday, August 28th. ValuEngine cut Plains Group Holdings, L.P. from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Raymond James Financial, Inc. raised Plains Group Holdings, L.P. from an “outperform” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, August 28th. BMO Capital Markets raised Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and increased their price target for the company from $22.00 to $25.00 in a research note on Monday, August 28th. Finally, Barclays PLC raised Plains Group Holdings, L.P. from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $32.00 to $31.00 in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.18.

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.

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Institutional Ownership by Quarter for Plains Group Holdings, L.P. (NYSE:PAGP)

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