Plains Group Holdings, L.P. (NYSE:PAGP) Shares Bought by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC boosted its position in Plains Group Holdings, L.P. (NYSE:PAGP) by 2,516.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,920 shares of the pipeline company’s stock after buying an additional 301,920 shares during the period. Harbour Capital Advisors LLC owned approximately 0.21% of Plains Group Holdings, L.P. worth $12,000,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its position in shares of 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 in the last quarter. Searle & CO. bought a new position in shares of Plains Group Holdings, L.P. during the second quarter valued at approximately $209,000. Shell Asset Management Co. raised its position in shares of Plains Group Holdings, L.P. by 110.8% in the second quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock valued at $209,000 after buying an additional 4,202 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Plains Group Holdings, L.P. during the first quarter valued at approximately $211,000. Finally, Proficio Capital Partners LLC raised its position in shares of Plains Group Holdings, L.P. by 481.5% in the first quarter. Proficio Capital Partners LLC now owns 7,548 shares of the pipeline company’s stock valued at $211,000 after buying an additional 6,250 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Shares of Plains Group Holdings, L.P. (NYSE PAGP) opened at 19.77 on Friday. Plains Group Holdings, L.P. has a one year low of $19.60 and a one year high of $36.59. The firm’s market capitalization is $3.03 billion. The company’s 50 day moving average price is $25.15 and its 200 day moving average price 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 EPS for the quarter, missing the Zacks’ 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 return on equity of 0.69% and a net margin of 0.34%. Plains Group Holdings, L.P.’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 earnings per share. On average, analysts expect that Plains Group Holdings, L.P. will post $0.97 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a yield of 11.13%. Plains Group Holdings, L.P.’s payout ratio is currently 333.50%.

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PAGP has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Raymond James Financial, Inc. upgraded shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Monday, May 22nd. They noted that the move was a valuation call. Macquarie reiterated an “outperform” rating and issued a $37.00 price target on shares of Plains Group Holdings, L.P. in a research note on Friday, April 21st. Jefferies Group LLC downgraded Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and increased their price objective for the company from $12.00 to $27.00 in a report on Friday, April 21st. Finally, Stifel Nicolaus decreased their price objective on 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. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. Plains Group Holdings, L.P. currently has a consensus rating of “Hold” and an average target price of $27.67.

In other Plains Group Holdings, L.P. news, Director Everardo Goyanes purchased 20,000 shares of Plains Group Holdings, L.P. stock in a transaction on Wednesday, August 9th. The stock was bought at an average price of $21.25 per share, for a total transaction of $425,000.00. Following the transaction, the director now owns 42,305 shares of the company’s stock, valued at approximately $898,981.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Greg L. Armstrong purchased 50,000 shares of Plains Group Holdings, L.P. stock in a transaction on Wednesday, August 9th. The shares were acquired at an average price of $21.53 per share, with a total value of $1,076,500.00. Following the transaction, the chairman now directly owns 700,625 shares in the company, valued at approximately $15,084,456.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 122,500 shares of company stock valued at $2,724,700. 39.93% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for Plains Group Holdings, L.P. (NYSE:PAGP)

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