Vanguard Group Inc. decreased its position in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 3.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 910,449 shares of the pipeline company’s stock after selling 36,107 shares during the quarter. Vanguard Group Inc. owned approximately 0.59% of Plains Group Holdings, L.P. worth $23,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAGP. Teacher Retirement System of Texas lifted its stake in Plains Group Holdings, L.P. by 0.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,922 shares of the pipeline company’s stock worth $338,000 after purchasing an additional 45 shares in the last quarter. Homrich & Berg lifted its stake in Plains Group Holdings, L.P. by 1.1% in the 2nd quarter. Homrich & Berg now owns 34,014 shares of the pipeline company’s stock worth $890,000 after purchasing an additional 354 shares in the last quarter. Keybank National Association OH lifted its stake in Plains Group Holdings, L.P. by 1.9% in the 2nd quarter. Keybank National Association OH now owns 43,721 shares of the pipeline company’s stock worth $1,144,000 after purchasing an additional 804 shares in the last quarter. Bessemer Group Inc. lifted its stake in Plains Group Holdings, L.P. by 3.6% in the 2nd quarter. Bessemer Group Inc. now owns 27,748 shares of the pipeline company’s stock worth $726,000 after purchasing an additional 962 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. lifted its stake in Plains Group Holdings, L.P. by 0.9% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 107,083 shares of the pipeline company’s stock worth $2,802,000 after purchasing an additional 982 shares in the last quarter. Institutional investors own 81.43% of the company’s stock.

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PAGP has been the topic of several research analyst reports. Barclays PLC reiterated a “buy” rating and issued a $26.00 price target on shares of Plains Group Holdings, L.P. in a research note 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 boosted their price target for the stock from $22.00 to $25.00 in a research note 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 on the stock in a research note on Tuesday, October 24th. ValuEngine upgraded shares of Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Seaport Global Securities initiated coverage on shares of Plains Group Holdings, L.P. in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.18.

Plains Group Holdings, L.P. (NYSE PAGP) opened at $20.88 on Tuesday. The company has a market cap of $3,336.87, a PE ratio of 47.89 and a beta of 1.48. Plains Group Holdings, L.P. has a fifty-two week low of $18.98 and a fifty-two week high of $38.46. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 0.84.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.20). The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.71 billion. Plains Group Holdings, L.P. had a net margin of 0.25% and a return on equity of 0.50%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share. equities analysts predict that Plains Group Holdings, L.P. will post 1.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.20 annualized dividend and a yield of 5.75%. Plains Group Holdings, L.P.’s payout ratio is 266.67%.

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.

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

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