Pointe Capital Management LLC decreased its position in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,607 shares of the pipeline company’s stock after selling 112 shares during the period. Pointe Capital Management LLC’s holdings in Plains Group Holdings, L.P. were worth $225,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PAGP. Global X Management Co. LLC boosted its stake in shares of Plains Group Holdings, L.P. by 24.1% in the second quarter. Global X Management Co. LLC now owns 470,377 shares of the pipeline company’s stock worth $12,305,000 after buying an additional 91,395 shares during the last quarter. Endurance Wealth Management Inc. boosted its stake in shares of Plains Group Holdings, L.P. by 5.8% in the second quarter. Endurance Wealth Management Inc. now owns 21,086 shares of the pipeline company’s stock worth $552,000 after buying an additional 1,162 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Plains Group Holdings, L.P. by 13.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,983,497 shares of the pipeline company’s stock worth $182,688,000 after buying an additional 803,338 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in shares of Plains Group Holdings, L.P. by 10.0% in the second quarter. Hodges Capital Management Inc. now owns 16,153 shares of the pipeline company’s stock worth $423,000 after buying an additional 1,474 shares during the last quarter. Finally, Beach Investment Management LLC. acquired a new stake in shares of Plains Group Holdings, L.P. during the second quarter worth approximately $347,000. Institutional investors own 85.09% of the company’s stock.

Plains Group Holdings, L.P. (PAGP) opened at 21.15 on Friday. The company’s market cap is $3.24 billion. Plains Group Holdings, L.P. has a one year low of $14.44 and a one year high of $36.09. The stock has a 50 day moving average of $25.91 and a 200-day moving average of $29.06.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly 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. 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 period in the prior year, the firm earned $0.29 EPS. Plains Group Holdings, L.P.’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities analysts predict that Plains Group Holdings, L.P. will post $1.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 10.40%. The ex-dividend date is Thursday, July 27th. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is presently 333.50%.

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A number of brokerages recently commented on PAGP. Citigroup Inc. restated a “buy” rating and set a $28.00 price target (down from $33.50) on shares of Plains Group Holdings, L.P. in a research note on Thursday. Stifel Nicolaus restated a “hold” rating and set a $26.00 price target (down from $30.00) on shares of Plains Group Holdings, L.P. in a research note on Wednesday. Raymond James Financial, Inc. set a $24.00 price target on shares of Plains Group Holdings, L.P. and gave the company a “buy” rating in a research note on Wednesday. TheStreet cut shares of Plains Group Holdings, L.P. from a “c” rating to a “d+” rating in a research note on Monday. Finally, BidaskClub cut shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $28.22.

In related news, Chairman Greg L. Armstrong bought 50,000 shares of the stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average price of $23.41 per share, with a total value of $1,170,500.00. Following the completion of the acquisition, the chairman now owns 650,625 shares of the company’s stock, valued at $15,231,131.25. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Everardo Goyanes bought 20,000 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 42,305 shares of the company’s stock, valued at approximately $898,981.25. The disclosure for this purchase can be found here. Insiders bought 120,000 shares of company stock worth $2,672,000 in the last three months. Insiders own 39.93% of the company’s stock.

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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