Plains Group Holdings, L.P. (NYSE:PAGP) was downgraded by equities research analysts at TheStreet from a “c” rating to a “d+” rating in a report issued on Monday.

Several other brokerages have also recently commented on PAGP. Zacks Investment Research raised shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, April 12th. Wolfe Research reaffirmed a “market perform” rating on shares of Plains Group Holdings, L.P. in a report on Friday, April 21st. Macquarie reaffirmed an “outperform” rating and set a $37.00 target price on shares of Plains Group Holdings, L.P. in a report on Friday, April 21st. Jefferies Group LLC cut shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and raised their target price for the stock from $12.00 to $27.00 in a report on Friday, April 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 target price on shares of Plains Group Holdings, L.P. in a report on Wednesday, May 24th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $28.03.

Plains Group Holdings, L.P. (PAGP) opened at 21.04 on Monday. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 50.46 and a beta of 1.48. The company’s 50-day moving average price is $26.12 and its 200 day moving average price is $29.38. Plains Group Holdings, L.P. has a 52 week low of $14.44 and a 52 week high of $36.09.

Plains Group Holdings, L.P. (NYSE:PAGP) last released its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.72%. The firm’s revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 earnings per share. On average, analysts predict that Plains Group Holdings, L.P. will post $1.56 EPS for the current year.

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In other news, Chairman Greg L. Armstrong purchased 50,000 shares of Plains Group Holdings, L.P. stock in a transaction that occurred on 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 transaction, the chairman now owns 650,625 shares of the company’s stock, valued at approximately $15,231,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 39.93% of the company’s stock.

Several hedge funds have recently bought and sold shares of PAGP. Penserra Capital Management LLC purchased a new stake in Plains Group Holdings, L.P. during the second quarter valued at about $103,000. Chicago Partners Investment Group LLC raised its stake in Plains Group Holdings, L.P. by 1.7% in the first quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the pipeline company’s stock valued at $195,000 after buying an additional 103 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Plains Group Holdings, L.P. during the first quarter valued at about $211,000. Segment Wealth Management LLC raised its stake in shares of Plains Group Holdings, L.P. by 19.5% in the first quarter. Segment Wealth Management LLC now owns 7,357 shares of the pipeline company’s stock worth $230,000 after buying an additional 1,200 shares in the last quarter. Finally, Hollencrest Securities LLC bought a new stake in shares of Plains Group Holdings, L.P. during the first quarter worth $234,000. Institutional investors and hedge funds own 85.09% of the company’s stock.

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.

Analyst Recommendations for Plains Group Holdings, L.P. (NYSE:PAGP)

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