Airain ltd boosted its position in Plains Group Holdings, L.P. (NYSE:PAGP) by 597.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,383 shares of the pipeline company’s stock after buying an additional 91,128 shares during the period. Airain ltd owned 0.07% of Plains Group Holdings, L.P. worth $2,783,000 as of its most recent SEC filing.

A number of other large investors have also 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. bought a new stake in Plains Group Holdings, L.P. during the first quarter worth $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. 83.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Plains Group Holdings, L.P. (PAGP) opened at 21.17 on Tuesday. Plains Group Holdings, L.P. has a 12 month low of $19.60 and a 12 month high of $36.59. The firm’s 50 day moving average is $24.37 and its 200 day moving average is $28.07. The company’s market cap is $3.25 billion.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.69%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, equities analysts predict that Plains Group Holdings, L.P. will post $1.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.20 annualized dividend and a yield of 10.39%. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is presently 333.50%.

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PAGP has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price objective on 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. UBS AG upgraded shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating in a research note on Monday, May 22nd. Raymond James Financial, Inc. upgraded shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Monday, May 22nd. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 target price on shares of Plains Group Holdings, L.P. in a research note on Wednesday, May 24th. Finally, Deutsche Bank AG cut their target price on shares of Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.28.

In other news, Chairman Greg L. Armstrong acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were bought at an average cost of $23.41 per share, with a total value of $1,170,500.00. Following the transaction, the chairman now owns 650,625 shares of the company’s stock, valued at approximately $15,231,131.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Everardo Goyanes acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $21.25 per share, for a total transaction of $425,000.00. Following the completion of the transaction, the director now directly owns 42,305 shares in the company, valued at approximately $898,981.25. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 122,500 shares of company stock valued at $2,724,700. 39.93% of the stock is owned by company insiders.

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.

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

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