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

Several other research firms have also recently issued reports on PAGP. Zacks Investment Research cut shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Wolfe Research reaffirmed a “market perform” rating on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Macquarie reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Jefferies Group LLC cut shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $12.00 to $27.00 in a research report on Friday, April 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 price objective on shares of Plains Group Holdings, L.P. in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.22.

Shares of Plains Group Holdings, L.P. (PAGP) traded down 2.21% during trading on Wednesday, reaching $20.35. 4,651,173 shares of the company were exchanged. Plains Group Holdings, L.P. has a 1-year low of $19.68 and a 1-year high of $36.59. The stock’s market capitalization is $3.11 billion. The firm has a 50-day moving average price of $25.48 and a 200-day moving average price of $28.68.

Plains Group Holdings, L.P. (NYSE:PAGP) last released its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. Plains Group Holdings, L.P.’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. Equities research analysts predict that Plains Group Holdings, L.P. will post $0.97 earnings per share 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 on Wednesday, June 21st. The shares were bought at an average cost of $23.41 per share, for a total transaction of $1,170,500.00. Following the completion of the purchase, the chairman now owns 650,625 shares in the company, valued at approximately $15,231,131.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard K. Mcgee acquired 2,500 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of $21.08 per share, for a total transaction of $52,700.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 122,500 shares of company stock worth $2,724,700. 39.93% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PAGP. Teacher Retirement System of Texas raised its position 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. Chicago Partners Investment Group LLC raised its position in 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 in the last quarter. Hartford Financial Management Inc. raised its position in Plains Group Holdings, L.P. by 1.2% in the first quarter. Hartford Financial Management Inc. now owns 10,726 shares of the pipeline company’s stock worth $334,000 after buying an additional 125 shares in the last quarter. Envestnet Asset Management Inc. raised its position 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. Finally, Endurance Wealth Management Inc. raised its position in Plains Group Holdings, L.P. by 1.1% in the first quarter. Endurance Wealth Management Inc. now owns 19,924 shares of the pipeline company’s stock worth $623,000 after buying an additional 217 shares in the last quarter. Institutional investors own 81.77% 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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