Global X Management Co. LLC boosted its stake in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 24.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 470,377 shares of the pipeline company’s stock after buying an additional 91,395 shares during the period. Global X Management Co. LLC’s holdings in Plains Group Holdings, L.P. were worth $12,305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. KCG Holdings Inc. increased its position in Plains Group Holdings, L.P. by 146.3% in the first quarter. KCG Holdings Inc. now owns 35,104 shares of the pipeline company’s stock valued at $1,097,000 after buying an additional 20,851 shares during the last quarter. DnB Asset Management AS increased its position in 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 valued at $426,000 after buying an additional 2,700 shares during the last quarter. Investment House LLC purchased a new position in Plains Group Holdings, L.P. during the first quarter valued at approximately $2,614,000. Hartree Partners LP purchased a new position in Plains Group Holdings, L.P. during the first quarter valued at approximately $2,345,000. Finally, TIAA CREF Investment Management LLC increased its stake in Plains Group Holdings, L.P. by 16.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,096,532 shares of the pipeline company’s stock valued at $34,278,000 after buying an additional 157,842 shares in the last quarter. Institutional investors and hedge funds own 85.09% of the company’s stock.

Shares of Plains Group Holdings, L.P. (NYSE:PAGP) opened at 20.97 on Thursday. Plains Group Holdings, L.P. has a 12 month low of $14.44 and a 12 month high of $36.09. The company has a 50 day moving average price of $25.97 and a 200-day moving average price of $29.12. The stock has a market cap of $3.19 billion, a P/E ratio of 50.29 and a beta of 1.48.

Plains Group Holdings, L.P. (NYSE:PAGP) last released its earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share 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 0.72%. The firm had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. On average, equities research analysts predict that Plains Group Holdings, L.P. will post $1.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.49%. The ex-dividend date is Thursday, July 27th. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is 333.50%.

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Several equities research analysts have issued reports on PAGP shares. Zacks Investment Research downgraded Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Raymond James Financial, Inc. upgraded Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research report on Monday, May 22nd. They noted that the move was a valuation call. Macquarie restated an “outperform” rating and set a $37.00 target price on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Jefferies Group LLC downgraded Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and increased their target price for the stock from $12.00 to $27.00 in a research report on Friday, April 21st. Finally, Stifel Nicolaus dropped their target price on Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, May 10th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Plains Group Holdings, L.P. currently has an average rating of “Hold” and a consensus price target of $28.22.

In other news, Chairman Greg L. Armstrong bought 50,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were bought at an average price of $23.41 per share, for a total transaction of $1,170,500.00. Following the purchase, the chairman now owns 650,625 shares in the company, valued at $15,231,131.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Everardo Goyanes bought 20,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average price of $21.25 per share, for a total transaction of $425,000.00. Following the purchase, the director now owns 42,305 shares in the company, valued at approximately $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 worth $2,672,000. 39.93% of the stock is owned by corporate insiders.

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.

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

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