Plains Group Holdings, L.P. (NYSE:PAGP) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research analysts have also recently commented on PAGP. Zacks Investment Research raised Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Wednesday, March 8th. Stifel Nicolaus lowered their price target on Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, May 10th. Deutsche Bank AG lowered their price target 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. 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 target on the stock in a report on Monday, May 22nd. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Plains Group Holdings, L.P. in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $26.86.

Shares of Plains Group Holdings, L.P. (PAGP) traded up 0.38% during midday trading on Thursday, hitting $26.25. The stock had a trading volume of 894,563 shares. Plains Group Holdings, L.P. has a 12 month low of $12.81 and a 12 month high of $36.09. The stock’s 50 day moving average price is $26.25 and its 200 day moving average price is $30.67. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 62.95 and a beta of 1.47.

Plains Group Holdings, L.P. (NYSE:PAGP) last posted its quarterly earnings data on Monday, May 8th. The pipeline company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.11. Plains Group Holdings, L.P. had a net margin of 0.44% and a return on equity of 0.90%. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’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 $1.46 EPS for the current fiscal 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, June 21st. The stock was bought at an average price of $23.41 per share, for a total transaction of $1,170,500.00. Following the acquisition, the chairman now directly owns 650,625 shares in the company, valued at $15,231,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Greg L. Armstrong acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were acquired at an average price of $27.64 per share, with a total value of $2,764,000.00. Following the acquisition, the chairman now owns 525,625 shares in the company, valued at $14,528,275. The disclosure for this purchase can be found here. 39.93% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of PAGP. State Board of Administration of Florida Retirement System acquired a new position in Plains Group Holdings, L.P. during the fourth quarter worth about $416,000. Renaissance Technologies LLC boosted its position in Plains Group Holdings, L.P. by 13.8% in the fourth quarter. Renaissance Technologies LLC now owns 198,061 shares of the pipeline company’s stock worth $6,869,000 after buying an additional 24,061 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new position in Plains Group Holdings, L.P. during the fourth quarter worth about $2,188,000. Creative Planning boosted its position in Plains Group Holdings, L.P. by 4.9% in the first quarter. Creative Planning now owns 25,212 shares of the pipeline company’s stock worth $788,000 after buying an additional 1,181 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in Plains Group Holdings, L.P. by 52.2% in the first quarter. Gulf International Bank UK Ltd now owns 42,315 shares of the pipeline company’s stock worth $1,322,000 after buying an additional 14,521 shares during the last quarter. Institutional investors own 83.99% 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.

Analyst Recommendations for Plains Group Holdings, L.P. (NYSE:PAGP)

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