KCM Investment Advisors LLC purchased a new stake in shares of Plains Group Holdings, L.P. (NYSE:PAGP) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the pipeline company’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PAGP. Penserra Capital Management LLC bought a new stake in shares of Plains Group Holdings, L.P. during the second quarter valued at about $103,000. Chicago Partners Investment Group LLC increased its position in shares of Plains Group Holdings, L.P. by 1.7% during 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 during the period. Searle & CO. bought a new stake in shares of Plains Group Holdings, L.P. during the second quarter valued at about $209,000. Shell Asset Management Co. increased its position in shares of Plains Group Holdings, L.P. by 110.8% during the second quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock valued at $209,000 after buying an additional 4,202 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Plains Group Holdings, L.P. during the first quarter valued at about $211,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/09/17/kcm-investment-advisors-llc-invests-262000-in-plains-group-holdings-l-p-pagp.html.

Shares of Plains Group Holdings, L.P. (NYSE:PAGP) opened at 22.81 on Friday. The firm has a 50-day moving average price of $22.59 and a 200 day moving average price of $27.10. The stock’s market cap is $3.50 billion. 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 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.04). Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The firm had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company’s quarterly revenue was up 22.8% on a year-over-year basis. On average, analysts forecast that Plains Group Holdings, L.P. will post $1.09 EPS for the current fiscal year.

Several research analysts have recently commented on PAGP shares. Bank of America Corporation set a $22.00 price objective on Plains Group Holdings, L.P. and gave the stock a “hold” rating in a report on Monday, August 28th. Deutsche Bank AG lowered Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and cut their price objective for the stock from $35.00 to $29.00 in a report on Thursday, July 13th. BMO Capital Markets raised Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $22.00 to $25.00 in a report on Monday, August 28th. Raymond James Financial, Inc. raised Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Monday, May 22nd. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Plains Group Holdings, L.P. in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Plains Group Holdings, L.P. has an average rating of “Hold” and an average price target of $27.94.

In related news, EVP Richard K. Mcgee bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $21.08 per share, for a total transaction of $52,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Greg L. Armstrong bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $23.41 per share, with a total value of $1,170,500.00. Following the completion of the acquisition, the chairman now 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. Over the last 90 days, insiders have bought 122,500 shares of company stock valued at $2,724,700. Company insiders own 39.93% of the company’s stock.

Plains Group Holdings, L.P. 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.

Want to see what other hedge funds are holding PAGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains Group Holdings, L.P. (NYSE:PAGP).

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

Receive News & Ratings for Plains Group Holdings L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains Group Holdings L.P. and related companies with MarketBeat.com's FREE daily email newsletter.