APG Asset Management N.V. continued to hold its position in shares of Plains Group Holdings, L.P. (NYSE:PAGP) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,364 shares of the pipeline company’s stock at the end of the second quarter. APG Asset Management N.V.’s holdings in Plains Group Holdings, L.P. were worth $925,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. OppenheimerFunds Inc. acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter worth about $180,285,000. State Street Corp acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter worth about $51,634,000. Massachusetts Financial Services Co. MA increased its position in shares of Plains Group Holdings, L.P. by 82.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,907,764 shares of the pipeline company’s stock worth $90,897,000 after buying an additional 1,311,319 shares during the period. HITE Hedge Asset Management LLC increased its position in shares of Plains Group Holdings, L.P. by 1,710.7% in the first quarter. HITE Hedge Asset Management LLC now owns 1,142,511 shares of the pipeline company’s stock worth $35,715,000 after buying an additional 1,079,413 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of Plains Group Holdings, L.P. by 108.7% in the first quarter. Nuveen Asset Management LLC now owns 2,014,680 shares of the pipeline company’s stock worth $62,979,000 after buying an additional 1,049,315 shares during the period. 84.13% of the stock is owned by institutional investors and hedge funds.

Shares of Plains Group Holdings, L.P. (PAGP) traded down 0.83% during midday trading on Friday, reaching $26.27. The company’s stock had a trading volume of 839,058 shares. Plains Group Holdings, L.P. has a 12 month low of $23.33 and a 12 month high of $36.59. The stock has a market capitalization of $4.00 billion, a PE ratio of 63.00 and a beta of 1.48. The stock’s 50 day moving average is $26.00 and its 200 day moving average is $29.44.

Plains Group Holdings, L.P. (NYSE:PAGP) last posted its quarterly earnings results on Monday, May 8th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.11. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $5.21 billion. Plains Group Holdings, L.P. had a net margin of 0.44% and a return on equity of 0.90%. Plains Group Holdings, L.P.’s quarterly revenue was up 62.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. On average, analysts forecast that Plains Group Holdings, L.P. will post $1.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.20 annualized dividend and a dividend yield of 8.37%. Plains Group Holdings, L.P.’s dividend payout ratio is currently 244.68%.

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A number of equities research analysts recently weighed in on PAGP shares. Zacks Investment Research cut Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a report on Thursday, June 22nd. Raymond James Financial, Inc. upgraded 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 report on Monday, May 22nd. They noted that the move was a valuation call. Macquarie restated an “outperform” rating and issued a $37.00 price target on shares of Plains Group Holdings, L.P. in a report on Friday, April 21st. Jefferies Group LLC cut Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and upped their price target for the stock from $12.00 to $27.00 in a report on Friday, April 21st. Finally, Stifel Nicolaus lowered their price target on Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, May 10th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $29.53.

In related news, Chairman Greg L. Armstrong purchased 100,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average price of $27.64 per share, with a total value of $2,764,000.00. Following the completion of the acquisition, the chairman now owns 525,625 shares of the company’s stock, valued at $14,528,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Greg L. Armstrong purchased 50,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was bought at an average cost of $23.41 per share, for a total transaction of $1,170,500.00. Following the acquisition, the chairman now directly owns 650,625 shares of the company’s stock, valued at approximately $15,231,131.25. The disclosure for this purchase can be found here. 39.93% of the stock is currently owned by corporate 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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