Oregon Public Employees Retirement Fund raised its position in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 23.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,461 shares of the pipeline company’s stock after buying an additional 3,500 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Plains Group Holdings, L.P. were worth $483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chickasaw Capital Management LLC increased its position in shares of Plains Group Holdings, L.P. by 9.7% in the first quarter. Chickasaw Capital Management LLC now owns 7,160,037 shares of the pipeline company’s stock worth $223,823,000 after buying an additional 635,626 shares during the period. OppenheimerFunds Inc. purchased a new position in shares of Plains Group Holdings, L.P. during the first quarter worth approximately $180,285,000. Goldman Sachs Group Inc. increased its position in shares of Plains Group Holdings, L.P. by 17.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,431,497 shares of the pipeline company’s stock worth $138,528,000 after buying an additional 673,792 shares during the period. 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. Finally, Eagle Global Advisors LLC increased its position in shares of Plains Group Holdings, L.P. by 19.8% in the first quarter. Eagle Global Advisors LLC now owns 2,151,616 shares of the pipeline company’s stock worth $67,260,000 after buying an additional 355,254 shares during the period. 85.09% of the stock is owned by institutional investors and hedge funds.

Shares of Plains Group Holdings, L.P. (NYSE PAGP) traded down 14.98% during mid-day trading on Tuesday, reaching $21.96. 5,873,579 shares of the company’s stock traded hands. The firm has a 50-day moving average of $26.00 and a 200 day moving average of $29.44. The company has a market cap of $3.34 billion, a P/E ratio of 52.66 and a beta of 1.48. Plains Group Holdings, L.P. has a 12-month low of $20.64 and a 12-month high of $36.59.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.04. The business 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 0.90% and a net margin of 0.44%. Plains Group Holdings, L.P.’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Equities analysts forecast that Plains Group Holdings, L.P. will post $1.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a yield of 8.52%. Plains Group Holdings, L.P.’s dividend payout ratio is presently 244.68%.

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PAGP has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, April 12th. Jefferies Group LLC downgraded shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and lifted their price objective for the company from $12.00 to $27.00 in a research report on Friday, April 21st. Macquarie reissued an “outperform” rating and issued a $37.00 price objective on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Wolfe Research reissued a “market perform” rating on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Finally, Stifel Nicolaus decreased their price objective on shares of Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, May 10th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.03.

In other Plains Group Holdings, L.P. news, Chairman Greg L. Armstrong bought 100,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was purchased at an average price of $27.64 per share, for a total transaction of $2,764,000.00. Following the completion of the transaction, the chairman now directly owns 525,625 shares of the company’s stock, valued at $14,528,275. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Greg L. Armstrong bought 50,000 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were acquired at an average price of $23.41 per share, with a total value of $1,170,500.00. Following the transaction, the chairman now directly owns 650,625 shares of the company’s stock, valued at $15,231,131.25. The disclosure for this purchase can be found here. 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.

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

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