Stifel Nicolaus reiterated their hold rating on shares of Plains Group Holdings, L.P. (NYSE:PAGP) in a research report report published on Wednesday morning. Stifel Nicolaus currently has a $26.00 price objective on the pipeline company’s stock, down from their prior price objective of $30.00.

Several other research firms have also issued reports on PAGP. Zacks Investment Research raised shares of Plains Group Holdings, L.P. from a hold rating to a buy rating and set a $35.00 price target on the stock in a report on Wednesday, April 12th. Wolfe Research reissued a market perform rating on shares of Plains Group Holdings, L.P. in a report on Friday, April 21st. Macquarie reissued an outperform rating and set a $37.00 price objective on shares of Plains Group Holdings, L.P. in a report on Friday, April 21st. Jefferies Group LLC lowered shares of Plains Group Holdings, L.P. from a buy rating to a hold rating and boosted their price objective for the company from $12.00 to $27.00 in a report on Friday, April 21st. Finally, BMO Capital Markets reissued a hold rating and set a $32.00 price objective on shares of Plains Group Holdings, L.P. in a report on Wednesday, May 24th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $28.22.

Shares of Plains Group Holdings, L.P. (NYSE PAGP) traded down 0.28% during mid-day trading on Wednesday, reaching $21.09. The company’s stock had a trading volume of 1,737,885 shares. The firm’s 50 day moving average is $25.83 and its 200 day moving average is $28.98. The firm’s market cap is $3.23 billion. Plains Group Holdings, L.P. has a one year low of $14.44 and a one year high of $36.09.

Plains Group Holdings, L.P. (NYSE:PAGP) last released its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. Plains Group Holdings, L.P.’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities analysts anticipate that Plains Group Holdings, L.P. will post $1.51 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be given a $0.55 dividend. The ex-dividend date is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.43%. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is currently 333.50%.

In related news, Chairman Greg L. Armstrong purchased 50,000 shares of Plains Group Holdings, L.P. stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $21.53 per share, for a total transaction of $1,076,500.00. Following the transaction, the chairman now directly owns 700,625 shares in the company, valued at $15,084,456.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Everardo Goyanes purchased 20,000 shares of Plains Group Holdings, L.P. stock in a transaction that occurred 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 transaction, the director now owns 42,305 shares in the company, valued at $898,981.25. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 120,000 shares of company stock valued at $2,672,000. Insiders own 39.93% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAGP. Chickasaw Capital Management LLC increased its stake in Plains Group Holdings, L.P. by 4.4% in the second quarter. Chickasaw Capital Management LLC now owns 7,474,728 shares of the pipeline company’s stock worth $195,539,000 after buying an additional 314,691 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in Plains Group Holdings, L.P. by 13.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,983,497 shares of the pipeline company’s stock worth $182,688,000 after buying an additional 803,338 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in Plains Group Holdings, L.P. during the first quarter worth approximately $180,285,000. Goldman Sachs Group Inc. increased its stake in Plains Group Holdings, L.P. by 17.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,431,497 shares of the pipeline company’s stock worth $138,528,000 after buying an additional 673,792 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in 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 worth $90,897,000 after buying an additional 1,311,319 shares during the last quarter. Hedge funds and other institutional investors own 85.09% of the company’s stock.

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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