Plains Group Holdings, L.P. (NYSE:PAGP) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,751,629 shares, a decline of 37.5% from the October 13th total of 4,404,127 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily trading volume, of 1,888,432 shares, the short-interest ratio is currently 1.5 days.

Hedge funds have recently modified their holdings of the stock. State of Wisconsin Investment Board increased its position in Plains Group Holdings, L.P. by 9.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 316,550 shares of the pipeline company’s stock valued at $8,281,000 after acquiring an additional 28,420 shares during the period. Atlantic Trust Group LLC increased its position in Plains Group Holdings, L.P. by 14.9% in the 2nd quarter. Atlantic Trust Group LLC now owns 2,223,939 shares of the pipeline company’s stock valued at $58,179,000 after acquiring an additional 287,807 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Plains Group Holdings, L.P. by 14.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 502,103 shares of the pipeline company’s stock valued at $13,135,000 after acquiring an additional 65,126 shares during the period. Penserra Capital Management LLC acquired a new position in Plains Group Holdings, L.P. in the 2nd quarter valued at about $103,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Plains Group Holdings, L.P. in the 3rd quarter valued at about $238,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

PAGP has been the subject of a number of recent analyst reports. Barclays PLC reaffirmed a “buy” rating and set a $26.00 price target on shares of Plains Group Holdings, L.P. in a report on Thursday, October 19th. BMO Capital Markets raised Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $22.00 to $25.00 in a report on Monday, August 28th. Zacks Investment Research raised Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 24th. ValuEngine raised Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Seaport Global Securities started coverage on Plains Group Holdings, L.P. in a report on Tuesday, October 10th. They set a “neutral” rating and a $23.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Plains Group Holdings, L.P. presently has a consensus rating of “Hold” and a consensus price target of $27.18.

Plains Group Holdings, L.P. (PAGP) opened at $21.55 on Friday. The stock has a market capitalization of $3,336.87, a PE ratio of 47.89 and a beta of 1.48. Plains Group Holdings, L.P. has a 52-week low of $18.98 and a 52-week high of $38.46. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.94 and a quick ratio of 0.69.

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.20). The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.71 billion. Plains Group Holdings, L.P. had a net margin of 0.25% and a return on equity of 0.50%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. equities analysts expect that Plains Group Holdings, L.P. will post 1.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend is Monday, October 30th. Plains Group Holdings, L.P.’s dividend payout ratio (DPR) is presently 266.67%.

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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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