Plains Group Holdings, L.P. (NYSE:PAGP) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded Plains Group Holdings, L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research downgraded Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 6th. Stifel Nicolaus set a $21.00 price objective on Plains Group Holdings, L.P. and gave the company a “hold” rating in a research report on Monday, August 28th. Bank of America Corporation set a $22.00 price objective on Plains Group Holdings, L.P. and gave the company a “hold” rating in a research report on Monday, August 28th. Finally, Raymond James Financial, Inc. upgraded Plains Group Holdings, L.P. from an “outperform” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.50.

Plains Group Holdings, L.P. (NYSE:PAGP) opened at 21.70 on Thursday. The firm’s market capitalization is $3.33 billion. The company’s 50-day moving average price is $21.93 and its 200 day moving average price is $26.15. 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 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). The firm had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. On average, analysts forecast that Plains Group Holdings, L.P. will post $1.09 earnings per share for the current year.

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In other news, Director Everardo Goyanes purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was bought at an average cost of $21.25 per share, for a total transaction of $425,000.00. Following the completion of the acquisition, the director now directly owns 42,305 shares of the company’s stock, valued at $898,981.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Richard K. Mcgee purchased 2,500 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $21.08 per share, with a total value of $52,700.00. The disclosure for this purchase can be found here. Insiders have acquired 72,500 shares of company stock valued at $1,554,200 over the last 90 days. Corporate insiders own 39.93% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas boosted its holdings in Plains Group Holdings, L.P. by 0.3% during the second quarter. Teacher Retirement System of Texas now owns 12,922 shares of the pipeline company’s stock valued at $338,000 after acquiring an additional 45 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Plains Group Holdings, L.P. by 2.2% during the first 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. Homrich & Berg boosted its holdings in Plains Group Holdings, L.P. by 1.1% during the second quarter. Homrich & Berg now owns 34,014 shares of the pipeline company’s stock valued at $890,000 after acquiring an additional 354 shares during the period. Arete Wealth Advisors LLC boosted its holdings in Plains Group Holdings, L.P. by 2.0% during the second quarter. Arete Wealth Advisors LLC now owns 19,432 shares of the pipeline company’s stock valued at $508,000 after acquiring an additional 378 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Plains Group Holdings, L.P. by 11.4% during the second quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 428 shares during the period. Institutional investors own 83.04% 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.

Analyst Recommendations for Plains Group Holdings, L.P. (NYSE:PAGP)

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