Plains Group Holdings, L.P. (NYSE:PAGP) posted its earnings results on Monday. The pipeline company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.04, Briefing.com reports. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. Plains Group Holdings, L.P. had a net margin of 0.44% and a return on equity of 0.90%. The business’s revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS.

Shares of Plains Group Holdings, L.P. (PAGP) traded down 15.91% on Tuesday, hitting $21.72. 4,014,377 shares of the stock were exchanged. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 52.09 and a beta of 1.48. Plains Group Holdings, L.P. has a 1-year low of $20.64 and a 1-year high of $36.59. The stock’s 50-day moving average is $26.00 and its 200-day moving average is $29.44.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.52%. The ex-dividend date of this dividend is Thursday, July 27th. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is presently 244.68%.

In other Plains Group Holdings, L.P. news, Chairman Greg L. Armstrong bought 50,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $23.41 per share, with a total value of $1,170,500.00. Following the transaction, the chairman now owns 650,625 shares in the company, valued at $15,231,131.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Greg L. Armstrong bought 100,000 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 525,625 shares in the company, valued at approximately $14,528,275. The disclosure for this purchase can be found here. 39.93% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of PAGP. KCG Holdings Inc. raised its position in shares of Plains Group Holdings, L.P. by 146.3% in the first quarter. KCG Holdings Inc. now owns 35,104 shares of the pipeline company’s stock worth $1,097,000 after buying an additional 20,851 shares during the period. DnB Asset Management AS raised its position in shares of Plains Group Holdings, L.P. by 24.7% in the first quarter. DnB Asset Management AS now owns 13,616 shares of the pipeline company’s stock worth $426,000 after buying an additional 2,700 shares during the period. Investment House LLC acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter worth $2,614,000. Hartree Partners LP acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter worth $2,345,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of Plains Group Holdings, L.P. by 16.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,096,532 shares of the pipeline company’s stock worth $34,278,000 after buying an additional 157,842 shares during the period. 85.09% of the stock is owned by institutional investors and hedge funds.

PAGP has been the topic of several research analyst reports. Deutsche Bank AG decreased their price objective on shares of Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 30th. Zacks Investment Research upgraded shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, April 12th. Mizuho upgraded shares of Plains Group Holdings, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, July 10th. BidaskClub upgraded shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (down from $36.00) on shares of Plains Group Holdings, L.P. in a report on Friday, July 14th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Plains Group Holdings, L.P. presently has a consensus rating of “Hold” and a consensus price target of $28.03.

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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.

Earnings History for Plains Group Holdings, L.P. (NYSE:PAGP)

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