Plains Group Holdings, L.P.’s (NYSE:PAGP) Hold Rating Reiterated at Stifel Nicolaus

Plains Group Holdings, L.P. (NYSE:PAGP)‘s stock had its “hold” rating reaffirmed by stock analysts at Stifel Nicolaus in a research report issued on Wednesday. They currently have a $26.00 price objective on the pipeline company’s stock, down from their previous price objective of $30.00. Stifel Nicolaus’ price target points to a potential upside of 23.99% from the stock’s current price.

A number of other research analysts have also commented on the company. Zacks Investment Research lowered Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a report on Thursday, June 22nd. Raymond James Financial, Inc. raised Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Monday, May 22nd. They noted that the move was a valuation call. Jefferies Group LLC lowered Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and increased their target price for the stock from $12.00 to $27.00 in a report on Friday, April 21st. Macquarie reissued an “outperform” rating and set a $37.00 target price on shares of Plains Group Holdings, L.P. in a report on Friday, April 21st. Finally, Deutsche Bank AG reduced their target price on Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 30th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Plains Group Holdings, L.P. currently has a consensus rating of “Hold” and an average price target of $27.36.

Shares of Plains Group Holdings, L.P. (PAGP) traded down 0.33% on Wednesday, reaching $20.97. The company had a trading volume of 5,330,516 shares. The company’s 50-day moving average price is $26.12 and its 200-day moving average price is $29.38. Plains Group Holdings, L.P. has a 52-week low of $14.44 and a 52-week high of $36.09. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 50.29 and a beta of 1.48.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. On average, analysts predict that Plains Group Holdings, L.P. will post $1.56 earnings per share for the current year.

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In other Plains Group Holdings, L.P. news, Chairman Greg L. Armstrong acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $21.53 per share, for a total transaction of $1,076,500.00. Following the transaction, the chairman now directly owns 700,625 shares in the company, valued at $15,084,456.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Everardo Goyanes acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average price of $21.25 per share, with a total value of $425,000.00. Following the completion of the transaction, the director now owns 42,305 shares in the company, valued at $898,981.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 120,000 shares of company stock valued at $2,672,000. 39.93% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new stake in shares of Plains Group Holdings, L.P. during the second quarter valued at $103,000. Chicago Partners Investment Group LLC increased its stake 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 valued at $195,000 after buying an additional 103 shares in the last quarter. Searle & CO. acquired a new stake in shares of Plains Group Holdings, L.P. during the second quarter valued at $209,000. Shell Asset Management Co. increased its stake in shares of Plains Group Holdings, L.P. by 110.8% in the second quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock valued at $209,000 after buying an additional 4,202 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Plains Group Holdings, L.P. during the first quarter valued at $211,000. Institutional investors and hedge funds own 85.09% of the company’s stock.

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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