Plains Group Holdings, L.P. (PAGP) PT Set at $21.00 by Stifel Nicolaus

Plains Group Holdings, L.P. (NYSE:PAGP) has been given a $21.00 price target by equities research analysts at Stifel Nicolaus in a report issued on Monday, August 28th. The firm currently has a “hold” rating on the pipeline company’s stock. Stifel Nicolaus’ target price points to a potential downside of 7.94% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Deutsche Bank AG lowered their price objective on Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 30th. Mizuho raised Plains Group Holdings, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, July 10th. BidaskClub raised Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. set a $24.00 price objective on Plains Group Holdings, L.P. and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $28.00 price objective (down previously from $33.50) on shares of Plains Group Holdings, L.P. in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $27.94.

Plains Group Holdings, L.P. (NYSE PAGP) traded down 2.31% during midday trading on Monday, reaching $22.81. The company’s stock had a trading volume of 1,365,736 shares. The firm has a 50 day moving average price of $22.59 and a 200-day moving average price of $27.10. The company’s market cap is $3.50 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 announced its earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) 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%. The firm’s revenue was up 22.8% compared to the same quarter last year. During the same period last year, the business posted $0.29 EPS. On average, equities research analysts predict that Plains Group Holdings, L.P. will post $1.09 earnings per share for the current fiscal year.

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In related news, EVP Richard K. Mcgee acquired 2,500 shares of Plains Group Holdings, L.P. 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Greg L. Armstrong acquired 50,000 shares of Plains Group Holdings, L.P. stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $21.53 per share, with a total value of $1,076,500.00. Following the purchase, 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. Insiders have acquired a total of 122,500 shares of company stock valued at $2,724,700 in the last quarter. Company insiders own 39.93% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KCG Holdings Inc. raised its stake in shares of Plains Group Holdings, L.P. by 146.3% during the 1st 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 during the last quarter. DnB Asset Management AS increased its stake in shares of Plains Group Holdings, L.P. by 24.7% in the 1st quarter. DnB Asset Management AS now owns 13,616 shares of the pipeline company’s stock valued at $426,000 after purchasing an additional 2,700 shares in the last quarter. Investment House LLC purchased a new position in shares of Plains Group Holdings, L.P. in the 1st quarter valued at about $2,614,000. Hartree Partners LP purchased a new position in shares of Plains Group Holdings, L.P. in the 1st quarter valued at about $2,345,000. Finally, State of Wisconsin Investment Board increased its stake in shares of Plains Group Holdings, L.P. by 9.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 316,550 shares of the pipeline company’s stock valued at $8,281,000 after purchasing an additional 28,420 shares in the last quarter. Institutional investors and hedge funds own 83.17% 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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