Endurance Wealth Management Inc. boosted its stake in Plains Group Holdings, L.P. (NYSE:PAGP) by 5.8% during the second quarter, Holdings Channel reports. The fund owned 21,086 shares of the pipeline company’s stock after buying an additional 1,162 shares during the period. Endurance Wealth Management Inc.’s holdings in Plains Group Holdings, L.P. were worth $552,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains Group Holdings, L.P. by 13.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,983,497 shares of the pipeline company’s stock valued at $182,688,000 after buying an additional 803,338 shares during the last quarter. Hodges Capital Management Inc. raised its stake in shares of Plains Group Holdings, L.P. by 10.0% in the second quarter. Hodges Capital Management Inc. now owns 16,153 shares of the pipeline company’s stock valued at $423,000 after buying an additional 1,474 shares during the last quarter. Beach Investment Counsel Inc. PA raised its stake in shares of Plains Group Holdings, L.P. by 59.7% in the second quarter. Beach Investment Counsel Inc. PA now owns 13,273 shares of the pipeline company’s stock valued at $347,000 after buying an additional 4,960 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Plains Group Holdings, L.P. by 389.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 151,100 shares of the pipeline company’s stock valued at $3,953,000 after buying an additional 120,200 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Plains Group Holdings, L.P. by 3.6% in the second quarter. Bessemer Group Inc. now owns 27,748 shares of the pipeline company’s stock valued at $726,000 after buying an additional 962 shares during the last quarter. 85.09% of the stock is owned by institutional investors.

Plains Group Holdings, L.P. (NYSE:PAGP) opened at 25.83 on Tuesday. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 61.94 and a beta of 1.48. The stock has a 50 day moving average price of $26.00 and a 200-day moving average price of $29.44. Plains Group Holdings, L.P. has a 1-year low of $23.33 and a 1-year high of $36.59.

Plains Group Holdings, L.P. (NYSE:PAGP) last posted its earnings results on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Plains Group Holdings, L.P. had a return on equity of 0.90% and a net margin of 0.44%. The firm had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the firm earned $0.29 EPS. The company’s quarterly revenue was up 22.8% on a year-over-year basis. On average, equities research 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. Stockholders of record on Monday, July 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.52%. The ex-dividend date of this dividend is Thursday, July 27th. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is presently 244.68%.

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Several brokerages recently commented on PAGP. Bank of America Corporation began coverage on Plains Group Holdings, L.P. in a report on Thursday, August 3rd. They issued a “neutral” rating and a $29.00 price objective for the company. BidaskClub raised Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered Plains Group Holdings, L.P. from a “strong-buy” rating to a “hold” rating in a report on Friday, July 28th. Scotiabank set a $37.00 price target on Plains Group Holdings, L.P. and gave the company a “hold” rating in a report on Friday, July 21st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $30.00 price target on shares of Plains Group Holdings, L.P. in a report on Wednesday, July 19th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $29.53.

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