Plains Group Holdings, L.P. (PAGP) Director Acquires $425,000.00 in Stock

Plains Group Holdings, L.P. (NYSE:PAGP) Director Everardo Goyanes bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $21.25 per share, with a total value of $425,000.00. Following the transaction, the director now directly owns 42,305 shares of the company’s stock, valued at $898,981.25. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Plains Group Holdings, L.P. (NYSE:PAGP) opened at 21.09 on Friday. Plains Group Holdings, L.P. has a 52-week low of $14.44 and a 52-week high of $36.09. The company’s 50-day moving average is $25.83 and its 200-day moving average is $28.98. The firm’s market capitalization is $3.23 billion.

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 the Zacks’ consensus estimate of $0.20 by $0.04. The business had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.69%. Plains Group Holdings, L.P.’s revenue was up 22.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Equities analysts predict that Plains Group Holdings, L.P. will post $1.51 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.55 dividend. The ex-dividend date is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a yield of 10.43%. Plains Group Holdings, L.P.’s payout ratio is 333.50%.

ILLEGAL ACTIVITY NOTICE: This report was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://www.com-unik.info/2017/08/12/plains-group-holdings-l-p-pagp-director-acquires-425000-00-in-stock.html.

Several large investors have recently added to or reduced their stakes in the company. KCG Holdings Inc. boosted its stake 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 valued at $1,097,000 after buying an additional 20,851 shares in the last quarter. DnB Asset Management AS boosted its stake in 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 valued at $426,000 after buying an additional 2,700 shares in the last quarter. Investment House LLC purchased a new stake in Plains Group Holdings, L.P. during the first quarter valued at about $2,614,000. Hartree Partners LP purchased a new stake in Plains Group Holdings, L.P. during the first quarter valued at about $2,345,000. Finally, TIAA CREF Investment Management LLC boosted its stake 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 valued at $34,278,000 after buying an additional 157,842 shares in the last quarter. 85.09% of the stock is currently owned by institutional investors.

PAGP has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of 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 shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Monday, May 22nd. They noted that the move was a valuation call. Macquarie reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Plains Group Holdings, L.P. in a 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 raised their price target for the stock from $12.00 to $27.00 in a report on Friday, April 21st. Finally, Stifel Nicolaus decreased their price target on shares of Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, May 10th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Plains Group Holdings, L.P. has an average rating of “Hold” and a consensus target price of $28.22.

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.

What are top analysts saying about Plains Group Holdings L.P.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Plains Group Holdings L.P. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit