Plains Group Holdings, L.P. (PAGP) Rating Lowered to Hold at Deutsche Bank AG

Plains Group Holdings, L.P. (NYSE:PAGP) was downgraded by stock analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They presently have a $29.00 price target on the pipeline company’s stock, down from their previous price target of $35.00. Deutsche Bank AG’s target price suggests a potential upside of 8.37% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. UBS AG upgraded shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating in a research note on Monday, May 22nd. BidaskClub upgraded shares of Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of Plains Group Holdings, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BMO Capital Markets reiterated a “hold” rating and set a $32.00 target price on shares of Plains Group Holdings, L.P. in a research note on Wednesday, May 24th. Finally, Wolfe Research reiterated a “market perform” rating on shares of Plains Group Holdings, L.P. in a research note on Friday, April 21st. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Plains Group Holdings, L.P. presently has a consensus rating of “Hold” and an average price target of $28.26.

Plains Group Holdings, L.P. (NYSE:PAGP) traded up 0.056% during trading on Thursday, hitting $26.775. The company’s stock had a trading volume of 298,097 shares. Plains Group Holdings, L.P. has a one year low of $23.33 and a one year high of $36.59. The firm has a market cap of $4.08 billion, a PE ratio of 64.209 and a beta of 1.47. The company has a 50-day moving average of $26.25 and a 200 day moving average of $30.67.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its earnings results on Monday, May 8th. The pipeline company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.11. Plains Group Holdings, L.P. had a return on equity of 0.90% and a net margin of 0.44%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same quarter last year, the company posted $0.14 EPS. Plains Group Holdings, L.P.’s quarterly revenue was up 62.2% on a year-over-year basis. On average, equities analysts forecast that Plains Group Holdings, L.P. will post $1.62 earnings per share for the current year.

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In other Plains Group Holdings, L.P. news, Chairman Greg L. Armstrong acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was acquired at an average cost of $27.64 per share, with a total value of $2,764,000.00. Following the purchase, the chairman now directly owns 525,625 shares in the company, valued at approximately $14,528,275. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Greg L. Armstrong acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $23.41 per share, with a total value of $1,170,500.00. Following the completion of the purchase, the chairman now owns 650,625 shares in the company, valued at $15,231,131.25. The disclosure for this purchase can be found here. Company insiders own 39.93% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC boosted its position in shares of Plains Group Holdings, L.P. by 1.7% in the first quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the pipeline company’s stock worth $195,000 after buying an additional 103 shares during the period. Paloma Partners Management Co acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter worth $211,000. Segment Wealth Management LLC boosted its position in shares of Plains Group Holdings, L.P. by 19.5% in the first quarter. Segment Wealth Management LLC now owns 7,357 shares of the pipeline company’s stock worth $230,000 after buying an additional 1,200 shares during the period. Hollencrest Securities LLC acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter worth $234,000. Finally, Proficio Capital Partners LLC boosted its position in shares of Plains Group Holdings, L.P. by 481.5% in the first quarter. Proficio Capital Partners LLC now owns 7,548 shares of the pipeline company’s stock worth $211,000 after buying an additional 6,250 shares during the period. 83.82% of the stock is owned by institutional investors and hedge funds.

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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