Sumitomo Mitsui Asset Management Company LTD held its position in Plains Group Holdings, L.P. (NYSE:PAGP) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 10,906 shares of the pipeline company’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Plains Group Holdings, L.P. were worth $285,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its position in shares of Plains Group Holdings, L.P. by 4.9% in the first quarter. Creative Planning now owns 25,212 shares of the pipeline company’s stock worth $788,000 after buying an additional 1,181 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Plains Group Holdings, L.P. by 52.2% in the first quarter. Gulf International Bank UK Ltd now owns 42,315 shares of the pipeline company’s stock worth $1,322,000 after buying an additional 14,521 shares during the period. DnB Asset Management AS raised its position in shares of Plains Group Holdings, L.P. by 24.7% in the first quarter. DnB Asset Management AS now owns 13,616 shares of the pipeline company’s stock worth $426,000 after buying an additional 2,700 shares during the period. Duff & Phelps Investment Management Co. raised its position in shares of Plains Group Holdings, L.P. by 38.2% in the first quarter. Duff & Phelps Investment Management Co. now owns 150,436 shares of the pipeline company’s stock worth $4,703,000 after buying an additional 41,560 shares during the period. Finally, Hartford Financial Management Inc. raised its position in shares of Plains Group Holdings, L.P. by 1.2% in the first quarter. Hartford Financial Management Inc. now owns 10,726 shares of the pipeline company’s stock worth $334,000 after buying an additional 125 shares during the period. Institutional investors own 85.09% of the company’s stock.

Shares of Plains Group Holdings, L.P. (NYSE:PAGP) opened at 21.09 on Friday. The company’s market cap is $3.23 billion. Plains Group Holdings, L.P. has a 12-month low of $14.44 and a 12-month high of $36.09. The firm has a 50-day moving average of $25.83 and a 200-day moving average of $28.98.

Plains Group Holdings, L.P. (NYSE:PAGP) last posted its earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.04. The business had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. Plains Group Holdings, L.P.’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. Analysts predict that Plains Group Holdings, L.P. will post $1.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be paid a $0.55 dividend. The ex-dividend date is Thursday, July 27th. This represents a $2.20 annualized dividend and a dividend yield of 10.43%. Plains Group Holdings, L.P.’s payout ratio is 333.50%.

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A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Wolfe Research reiterated a “market perform” rating on shares of Plains Group Holdings, L.P. in a research note on Friday, April 21st. Macquarie reiterated an “outperform” rating and issued a $37.00 price target on shares of Plains Group Holdings, L.P. in a research note on Friday, April 21st. Jefferies Group LLC lowered shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and upped their price target for the company from $12.00 to $27.00 in a research note on Friday, April 21st. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price target on shares of Plains Group Holdings, L.P. in a research note on Wednesday, May 24th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.22.

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 dated Wednesday, June 21st. The stock was purchased at an average price of $23.41 per share, for a total transaction of $1,170,500.00. Following the completion of the purchase, the chairman now directly owns 650,625 shares of the company’s stock, valued at $15,231,131.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Everardo Goyanes bought 20,000 shares of Plains Group Holdings, L.P. stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $21.25 per share, with a total value of $425,000.00. Following the purchase, the director now directly owns 42,305 shares of the company’s stock, valued at $898,981.25. The disclosure for this purchase can be found here. Insiders bought 120,000 shares of company stock valued at $2,672,000 in the last quarter. Corporate insiders own 39.93% of the company’s stock.

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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