BidaskClub upgraded shares of Plains Group Holdings, L.P. (NYSE:PAGP) from a sell rating to a hold rating in a research report sent to investors on Thursday.
PAGP has been the topic of a number of other reports. ValuEngine cut Plains Group Holdings, L.P. from a hold rating to a sell rating in a report on Thursday. Stifel Nicolaus reiterated a hold rating and issued a $26.00 target price (down from $30.00) on shares of Plains Group Holdings, L.P. in a report on Wednesday, August 9th. Jefferies Group LLC upgraded Plains Group Holdings, L.P. from a hold rating to a buy rating and cut their target price for the stock from $27.00 to $24.00 in a report on Monday, August 21st. UBS AG upgraded Plains Group Holdings, L.P. from an outperform rating to a strong-buy rating in a report on Monday, August 28th. Finally, Zacks Investment Research cut Plains Group Holdings, L.P. from a buy rating to a hold rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $27.18.
Shares of Plains Group Holdings, L.P. (NYSE PAGP) traded down $0.10 on Thursday, hitting $21.55. The company had a trading volume of 1,528,200 shares, compared to its average volume of 1,959,969. Plains Group Holdings, L.P. has a 12 month low of $18.98 and a 12 month high of $38.46. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.79. The company has a market cap of $3,336.87, a PE ratio of 47.89 and a beta of 1.48.
Plains Group Holdings, L.P. (NYSE:PAGP) last issued its earnings results on Monday, November 6th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). Plains Group Holdings, L.P. had a return on equity of 0.50% and a net margin of 0.25%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. Plains Group Holdings, L.P.’s revenue for the quarter was up 13.6% on a year-over-year basis. analysts anticipate that Plains Group Holdings, L.P. will post 1.04 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.57%. The ex-dividend date is Monday, October 30th. Plains Group Holdings, L.P.’s dividend payout ratio is presently 266.67%.
Institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in shares of Plains Group Holdings, L.P. during the 2nd quarter valued at $103,000. The Manufacturers Life Insurance Company increased its position in shares of Plains Group Holdings, L.P. by 11.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 428 shares during the last quarter. Toronto Dominion Bank increased its holdings in Plains Group Holdings, L.P. by 260.0% in the 3rd quarter. Toronto Dominion Bank now owns 6,110 shares of the pipeline company’s stock worth $134,000 after acquiring an additional 4,413 shares during the last quarter. Searle & CO. purchased a new stake in Plains Group Holdings, L.P. in the 2nd quarter worth about $209,000. Finally, Shell Asset Management Co. increased its holdings in Plains Group Holdings, L.P. by 110.8% in the 2nd quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock worth $209,000 after acquiring an additional 4,202 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.
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.
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