Plains Group Holdings, L.P. (NYSE:PAGP) has received a consensus rating of “Hold” from the twenty-three ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $27.50.

A number of research firms recently commented on PAGP. Zacks Investment Research downgraded Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 6th. BidaskClub upgraded Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a research note on Saturday, September 2nd. ValuEngine downgraded Plains Group Holdings, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Stifel Nicolaus set a $21.00 price target on Plains Group Holdings, L.P. and gave the stock a “hold” rating in a research note on Monday, August 28th. Finally, Bank of America Corporation set a $22.00 price target on Plains Group Holdings, L.P. and gave the stock a “hold” rating in a research note on Monday, August 28th.

In other Plains Group Holdings, L.P. news, Director Everardo Goyanes purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average price of $21.25 per share, for a total transaction of $425,000.00. Following the completion of the transaction, the director now owns 42,305 shares in the company, valued at approximately $898,981.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard K. Mcgee purchased 2,500 shares of the firm’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. In the last 90 days, insiders acquired 72,500 shares of company stock worth $1,554,200. 39.93% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. KCG Holdings Inc. grew its position in 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 last quarter. Investment House LLC acquired a new position in Plains Group Holdings, L.P. in the first quarter worth approximately $2,614,000. State of Wisconsin Investment Board grew its position in Plains Group Holdings, L.P. by 9.9% in the second quarter. State of Wisconsin Investment Board now owns 316,550 shares of the pipeline company’s stock worth $8,281,000 after buying an additional 28,420 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in 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 last quarter. Finally, TD Asset Management Inc. acquired a new position in Plains Group Holdings, L.P. in the first quarter worth approximately $263,000. Hedge funds and other institutional investors own 83.03% of the company’s stock.

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Shares of Plains Group Holdings, L.P. (PAGP) opened at 22.33 on Friday. The stock has a 50 day moving average price of $22.34 and a 200 day moving average price of $26.87. The stock’s market capitalization is $3.43 billion. Plains Group Holdings, L.P. has a 12-month low of $14.44 and a 12-month high of $36.09.

Plains Group Holdings, L.P. (NYSE:PAGP) last posted its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.04). The firm had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. On average, equities analysts anticipate that Plains Group Holdings, L.P. will post $1.09 earnings per share for the current fiscal year.

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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