BidaskClub upgraded shares of Plains Group Holdings, L.P. (NYSE:PAGP) from a strong sell rating to a sell rating in a report published on Tuesday morning.

Several other research firms have also recently weighed in on PAGP. Mizuho upgraded shares of Plains Group Holdings, L.P. from a neutral rating to a buy rating and set a $30.00 price target for the company in a report on Monday, July 10th. Barclays PLC reiterated a buy rating and issued a $26.00 price target on shares of Plains Group Holdings, L.P. in a report on Thursday, October 19th. BMO Capital Markets upgraded shares of Plains Group Holdings, L.P. from a market perform rating to an outperform rating and upped their price target for the company from $22.00 to $25.00 in a report on Monday, August 28th. Zacks Investment Research upgraded shares of Plains Group Holdings, L.P. from a hold rating to a buy rating and set a $23.00 price target for the company in a report on Tuesday, October 24th. Finally, Deutsche Bank AG cut shares of Plains Group Holdings, L.P. from a buy rating to a hold rating and reduced their price target for the company from $35.00 to $29.00 in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $27.12.

Plains Group Holdings, L.P. (PAGP) opened at $20.24 on Tuesday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 30.70 and a beta of 1.48. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.79.

Plains Group Holdings, L.P. (NYSE:PAGP) last released 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 company had revenue of $6.08 billion during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. equities research analysts expect that Plains Group Holdings, L.P. will post 1.33 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Monday, October 30th. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is currently 181.91%.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its position 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 worth $338,000 after acquiring an additional 45 shares in the last quarter. Homrich & Berg raised its position in shares of Plains Group Holdings, L.P. by 1.1% in the second quarter. Homrich & Berg now owns 34,014 shares of the pipeline company’s stock valued at $890,000 after purchasing an additional 354 shares during the period. Arete Wealth Advisors LLC raised its position in shares of Plains Group Holdings, L.P. by 2.0% in the second quarter. Arete Wealth Advisors LLC now owns 19,432 shares of the pipeline company’s stock valued at $508,000 after purchasing an additional 378 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Plains Group Holdings, L.P. by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 428 shares during the period. Finally, Keybank National Association OH raised its position in shares of Plains Group Holdings, L.P. by 1.9% in the second quarter. Keybank National Association OH now owns 43,721 shares of the pipeline company’s stock valued at $1,144,000 after purchasing an additional 804 shares during the period. 83.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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