Tiaa Fsb purchased a new position in shares of Plains Group Holdings, L.P. (NYSE:PAGP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 96,439 shares of the pipeline company’s stock, valued at approximately $2,523,000. Tiaa Fsb owned 0.06% of Plains Group Holdings, L.P. as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PAGP. Oregon Public Employees Retirement Fund increased its stake in shares of Plains Group Holdings, L.P. by 47.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 14,961 shares of the pipeline company’s stock worth $468,000 after acquiring an additional 4,800 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Plains Group Holdings, L.P. by 10.8% during the first quarter. Great West Life Assurance Co. Can now owns 30,879 shares of the pipeline company’s stock worth $964,000 after acquiring an additional 3,006 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Plains Group Holdings, L.P. by 70.7% during the first quarter. Pictet Asset Management Ltd. now owns 56,480 shares of the pipeline company’s stock worth $1,766,000 after acquiring an additional 23,400 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Plains Group Holdings, L.P. by 51.8% during the first quarter. UBS Asset Management Americas Inc. now owns 287,700 shares of the pipeline company’s stock worth $8,994,000 after acquiring an additional 98,134 shares during the period. Finally, TD Asset Management Inc. acquired a new position in shares of Plains Group Holdings, L.P. during the first quarter worth about $263,000. Institutional investors and hedge funds own 83.03% of the company’s stock.

Plains Group Holdings, L.P. (NYSE:PAGP) traded up 0.18% during mid-day trading on Friday, hitting $22.50. 128,934 shares of the stock traded hands. The stock has a 50 day moving average price of $22.34 and a 200 day moving average price of $26.87. The firm’s market cap is $3.45 billion. Plains Group Holdings, L.P. has a 12-month low of $14.44 and a 12-month high of $36.09.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.04). The business had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Plains Group Holdings, L.P. had a return on equity of 0.69% and a net margin of 0.34%. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. On average, analysts expect that Plains Group Holdings, L.P. will post $1.09 earnings per share for the current fiscal year.

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In other news, Chairman Greg L. Armstrong bought 50,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $21.53 per share, with a total value of $1,076,500.00. Following the completion of the transaction, the chairman now directly owns 700,625 shares in the company, valued at approximately $15,084,456.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard K. Mcgee bought 2,500 shares of the company’s stock in a transaction dated 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 disclosure for this purchase can be found here. Over the last three months, insiders bought 72,500 shares of company stock worth $1,554,200. 39.93% of the stock is currently owned by insiders.

Several brokerages have weighed in on PAGP. Deutsche Bank AG lowered their target price on shares of Plains Group Holdings, L.P. from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 30th. Zacks Investment Research lowered shares of Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Jefferies Group LLC restated a “hold” rating on shares of Plains Group Holdings, L.P. in a research report on Friday, June 23rd. BidaskClub upgraded shares of Plains Group Holdings, L.P. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Mizuho upgraded shares of Plains Group Holdings, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.94.

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.

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

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