Intrinsic Edge Capital Management LLC trimmed its holdings in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 35.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,083 shares of the pipeline company’s stock after selling 21,000 shares during the period. Intrinsic Edge Capital Management LLC’s holdings in Plains Group Holdings, L.P. were worth $1,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAGP. Great West Life Assurance Co. Can lifted its stake in Plains Group Holdings, L.P. by 10.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 30,879 shares of the pipeline company’s stock valued at $964,000 after acquiring an additional 3,006 shares during the period. UBS Asset Management Americas Inc. lifted its stake in Plains Group Holdings, L.P. by 51.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 287,700 shares of the pipeline company’s stock valued at $8,994,000 after acquiring an additional 98,134 shares during the period. TD Asset Management Inc. acquired a new stake in Plains Group Holdings, L.P. during the 1st quarter valued at approximately $263,000. Ameriprise Financial Inc. lifted its stake in Plains Group Holdings, L.P. by 1.3% during the 1st quarter. Ameriprise Financial Inc. now owns 66,247 shares of the pipeline company’s stock valued at $2,069,000 after acquiring an additional 855 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Plains Group Holdings, L.P. by 2.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,648 shares of the pipeline company’s stock valued at $302,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 83.04% of the company’s stock.

Several analysts have commented on PAGP shares. Mizuho upgraded shares of Plains Group Holdings, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Monday, July 10th. BMO Capital Markets upgraded shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $22.00 to $25.00 in a research note on Monday, August 28th. Deutsche Bank AG cut shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $35.00 to $29.00 in a research note on Thursday, July 13th. ValuEngine upgraded shares of Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Bank of America Corporation started coverage on shares of Plains Group Holdings, L.P. in a research note on Thursday, August 3rd. They set a “neutral” rating and a $29.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Plains Group Holdings, L.P. has an average rating of “Hold” and a consensus target price of $27.50.

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Shares of Plains Group Holdings, L.P. (PAGP) traded up 0.73% during midday trading on Friday, reaching $22.20. 1,159,215 shares of the company traded hands. The stock’s market capitalization is $3.41 billion. The stock’s 50-day moving average is $22.05 and its 200-day moving average is $26.05. Plains Group Holdings, L.P. has a 1-year low of $14.44 and a 1-year high of $36.09.

Plains Group Holdings, L.P. (NYSE:PAGP) last released its earnings results on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.69%. The business had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the business posted $0.29 EPS. Plains Group Holdings, L.P.’s revenue was up 22.8% compared to the same quarter last year. Equities analysts predict that Plains Group Holdings, L.P. will post $1.09 EPS for the current fiscal year.

In other Plains Group Holdings, L.P. news, Chairman Greg L. Armstrong bought 50,000 shares of Plains Group Holdings, L.P. stock in a transaction on Wednesday, August 9th. The stock was bought at an average price of $21.53 per share, with a total value of $1,076,500.00. Following the completion of the acquisition, the chairman now owns 700,625 shares in the company, valued at $15,084,456.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard K. Mcgee bought 2,500 shares of Plains Group Holdings, L.P. stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $21.08 per share, with a total value of $52,700.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 72,500 shares of company stock valued at $1,554,200. 39.93% of the stock is owned by corporate insiders.

Plains Group Holdings, L.P. 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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