Yorkville Capital Management LLC increased its stake in Plains Group Holdings, L.P. (NYSE:PAGP) by 29.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,132 shares of the pipeline company’s stock after buying an additional 3,253 shares during the period. Yorkville Capital Management LLC’s holdings in Plains Group Holdings, L.P. were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its stake in Plains Group Holdings, L.P. by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 12,922 shares of the pipeline company’s stock worth $338,000 after buying an additional 45 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Plains Group Holdings, L.P. by 2.2% in the first quarter. Envestnet Asset Management Inc. now owns 9,648 shares of the pipeline company’s stock worth $302,000 after buying an additional 210 shares in the last quarter. Homrich & Berg raised its stake in 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 worth $890,000 after buying an additional 354 shares in the last quarter. Arete Wealth Advisors LLC raised its stake in 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 worth $508,000 after buying an additional 378 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in 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 worth $109,000 after buying an additional 428 shares in the last quarter. 83.08% of the stock is owned by institutional investors.

In other news, Chairman Greg L. Armstrong acquired 50,000 shares of Plains Group Holdings, L.P. stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $21.53 per share, for a total transaction of $1,076,500.00. Following the purchase, the chairman now directly owns 700,625 shares in the company, valued at approximately $15,084,456.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard K. Mcgee acquired 2,500 shares of Plains Group Holdings, L.P. stock in a transaction that occurred 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. In the last quarter, insiders have purchased 72,500 shares of company stock valued at $1,554,200. 39.93% of the stock is currently owned by company insiders.

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Shares of Plains Group Holdings, L.P. (NYSE:PAGP) traded up 1.058% during midday trading on Tuesday, hitting $21.495. 583,216 shares of the company traded hands. The company has a 50-day moving average price of $22.29 and a 200-day moving average price of $25.63. Plains Group Holdings, L.P. has a 52 week low of $14.44 and a 52 week high of $36.09. The stock’s market capitalization is $3.30 billion.

Plains Group Holdings, L.P. (NYSE:PAGP) last posted its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.04). The firm had revenue of $6.08 billion for the quarter, compared to the consensus estimate 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 company’s revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. Analysts anticipate that Plains Group Holdings, L.P. will post $1.09 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be paid 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 dividend yield of 5.64%. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is presently 333.50%.

PAGP has been the subject of a number of research reports. Bank of America Corporation set a $22.00 price target on shares of Plains Group Holdings, L.P. and gave the stock a “hold” rating in a research note on Monday, August 28th. 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 for the company. Deutsche Bank AG downgraded shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $35.00 to $29.00 in a research note on Thursday, July 13th. BMO Capital Markets raised shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $22.00 to $25.00 in a research note on Monday, August 28th. Finally, BidaskClub raised shares of Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a research note on Saturday, September 2nd. 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 company. The stock currently has a consensus rating of “Hold” and an average price target of $27.88.

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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