Plains Group Holdings, L.P. (NYSE:PAGP) Stock Rating Upgraded by BidaskClub

Plains Group Holdings, L.P. (NYSE:PAGP) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, July 31st.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Plains Group Holdings, L.P. from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 28th. Scotiabank set a $37.00 target price on Plains Group Holdings, L.P. and gave the stock a “hold” rating in a research note on Friday, July 21st. Stifel Nicolaus reiterated a “hold” rating and set a $30.00 target price on shares of Plains Group Holdings, L.P. in a research note on Wednesday, July 19th. Barclays PLC upgraded Plains Group Holdings, L.P. from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $32.00 to $31.00 in a research note on Tuesday, July 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price (down from $36.00) on shares of Plains Group Holdings, L.P. in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $27.67.

Plains Group Holdings, L.P. (NYSE:PAGP) traded down 0.25% on Monday, reaching $19.77. 2,087,569 shares of the company’s stock traded hands. The stock’s market capitalization is $3.03 billion. Plains Group Holdings, L.P. has a 52-week low of $14.44 and a 52-week high of $36.09. The firm’s 50-day moving average is $25.15 and its 200 day moving average is $28.53.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.04. The company had revenue of $6.08 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $0.29 earnings per share. Analysts forecast that Plains Group Holdings, L.P. will post $0.97 EPS for the current year.

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In related news, Director Everardo Goyanes acquired 20,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was 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 of the company’s stock, valued at approximately $898,981.25. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Richard K. Mcgee acquired 2,500 shares of the stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $21.08 per share, with a total value of $52,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 122,500 shares of company stock valued at $2,724,700 in the last 90 days. 39.93% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased its stake in shares of 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 valued at $338,000 after buying an additional 45 shares during the last quarter. Chicago Partners Investment Group LLC boosted 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 valued at $195,000 after buying an additional 103 shares during the period. Hartford Financial Management Inc. boosted 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 valued at $334,000 after buying an additional 125 shares during the period. Envestnet Asset Management Inc. boosted 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 valued at $302,000 after buying an additional 210 shares during the period. Finally, Endurance Wealth Management Inc. boosted 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 valued at $623,000 after buying an additional 217 shares during the period. Hedge funds and other 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.

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