BMO Capital Markets Analysts Give Plains Group Holdings, L.P. (NYSE:PAGP) a $25.00 Price Target

BMO Capital Markets set a $25.00 price objective on Plains Group Holdings, L.P. (NYSE:PAGP) in a report issued on Tuesday, October 17th. The firm currently has a buy rating on the pipeline company’s stock.

PAGP has been the topic of a number of other research reports. BidaskClub raised Plains Group Holdings, L.P. from a hold rating to a buy rating in a report on Monday, July 31st. Mizuho raised Plains Group Holdings, L.P. from a neutral rating to a buy rating and set a $30.00 price objective on the stock in a report on Monday, July 10th. 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 report on Wednesday, August 9th. Citigroup Inc. reissued a buy rating and set a $28.00 price objective (down previously from $33.50) on shares of Plains Group Holdings, L.P. in a report on Thursday, August 10th. Finally, Jefferies Group LLC raised Plains Group Holdings, L.P. from a hold rating to a buy rating and dropped their price objective for the stock from $27.00 to $24.00 in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $27.12.

Shares of Plains Group Holdings, L.P. (NYSE PAGP) traded up $0.46 during trading hours on Tuesday, reaching $20.70. The company’s stock had a trading volume of 680,794 shares, compared to its average volume of 1,682,524. The stock has a market cap of $3,106.52, a P/E ratio of 30.68 and a beta of 1.48. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.69 and a current ratio of 0.94.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.69%. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. sell-side analysts predict that Plains Group Holdings, L.P. will post 1.32 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a $0.30 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.80%. Plains Group Holdings, L.P.’s dividend payout ratio is currently 181.91%.

In related news, EVP Richard K. Mcgee acquired 2,500 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Greg L. Armstrong acquired 50,000 shares of the 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 of the company’s stock, valued at approximately $15,084,456.25. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 72,500 shares of company stock valued at $1,554,200. 39.93% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its stake in Plains Group Holdings, L.P. by 0.3% during 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. Envestnet Asset Management Inc. raised its stake in Plains Group Holdings, L.P. by 2.2% during 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 last quarter. Homrich & Berg raised its stake in Plains Group Holdings, L.P. by 1.1% during the second quarter. Homrich & Berg now owns 34,014 shares of the pipeline company’s stock valued at $890,000 after buying an additional 354 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in Plains Group Holdings, L.P. by 2.0% during the second quarter. Arete Wealth Advisors LLC now owns 19,432 shares of the pipeline company’s stock valued at $508,000 after buying an additional 378 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Plains Group Holdings, L.P. by 11.4% during the second quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after buying an additional 428 shares during the last quarter. Institutional investors and hedge funds own 82.41% 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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