UBS AG upgraded shares of Plains Group Holdings, L.P. (NYSE:PAGP) from an outperform rating to a strong-buy rating in a research note issued to investors on Monday morning.

Several other research analysts have also issued reports on PAGP. Stifel Nicolaus decreased their price target on shares of Plains Group Holdings, L.P. from $34.00 to $30.00 and set a hold rating for the company in a research note on Wednesday, May 10th. Raymond James Financial, Inc. upgraded shares of Plains Group Holdings, L.P. from a market perform rating to an outperform rating and set a $32.00 price target for the company in a research note on Monday, May 22nd. They noted that the move was a valuation call. 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. Deutsche Bank AG decreased their price target on shares of Plains Group Holdings, L.P. from $40.00 to $35.00 and set a buy rating for the company in a research note on Tuesday, May 30th. Finally, Zacks Investment Research lowered shares of Plains Group Holdings, L.P. from a hold rating to a strong sell rating in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and an average target price of $27.28.

Plains Group Holdings, L.P. (PAGP) opened at 21.17 on Monday. Plains Group Holdings, L.P. has a 52 week low of $19.60 and a 52 week high of $36.59. The company has a 50-day moving average of $24.37 and a 200-day moving average of $28.07. The firm’s market capitalization is $3.25 billion.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities analysts forecast that Plains Group Holdings, L.P. will post $1.03 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 10.39%. The ex-dividend date was Thursday, July 27th. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is 333.50%.

In other news, EVP Richard K. Mcgee acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $21.08 per share, with a total value of $52,700.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Everardo Goyanes acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $21.25 per share, for a total transaction of $425,000.00. Following the completion of the transaction, the director now directly owns 42,305 shares in the company, valued at approximately $898,981.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 122,500 shares of company stock worth $2,724,700 over the last three months. 39.93% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. DnB Asset Management AS increased its stake 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 last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Plains Group Holdings, L.P. during the first quarter worth about $966,000. Russell Investments Group Ltd. increased its stake in shares of Plains Group Holdings, L.P. by 88.2% in the first quarter. Russell Investments Group Ltd. now owns 593,393 shares of the pipeline company’s stock worth $18,539,000 after buying an additional 278,051 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Plains Group Holdings, L.P. by 69.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,906 shares of the pipeline company’s stock worth $340,000 after buying an additional 4,473 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Plains Group Holdings, L.P. by 47.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,961 shares of the pipeline company’s stock worth $468,000 after buying an additional 4,800 shares during the last quarter. 83.15% of the stock is currently owned by institutional investors.

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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