Stifel Nicolaus Reiterates $21.00 Price Target for Plains Group Holdings, L.P. (PAGP)

Plains Group Holdings, L.P. (NYSE:PAGP) received a $21.00 price objective from analysts at Stifel Nicolaus in a note issued to investors on Monday, August 28th. The brokerage currently has a “hold” rating on the pipeline company’s stock. Stifel Nicolaus’ price target points to a potential downside of 8.77% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Bank of America Corporation set a $22.00 price objective on shares of Plains Group Holdings, L.P. and gave the company a “hold” rating in a report on Monday, August 28th. Raymond James Financial, Inc. raised shares of Plains Group Holdings, L.P. from an “outperform” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Monday, August 28th. UBS AG raised shares of Plains Group Holdings, L.P. from an “outperform” rating to a “strong-buy” rating in a report on Monday, August 28th. BMO Capital Markets raised shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $22.00 to $25.00 in a report on Monday, August 28th. Finally, Jefferies Group LLC raised shares of Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and cut their price objective for the company from $27.00 to $24.00 in a report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $27.94.

Plains Group Holdings, L.P. (NYSE:PAGP) traded up 0.26% during midday trading on Monday, reaching $23.08. The company had a trading volume of 81,691 shares. The company’s market capitalization is $3.54 billion. The firm has a 50-day moving average price of $23.09 and a 200-day moving average price of $27.29. 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 data on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.69%. The firm had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. Analysts expect that Plains Group Holdings, L.P. will post $1.10 EPS for the current fiscal year.

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In other Plains Group Holdings, L.P. news, EVP Richard K. Mcgee acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $21.08 per share, with a total value of $52,700.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Greg L. Armstrong acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were acquired at an average cost of $23.41 per share, with a total value of $1,170,500.00. Following the purchase, the chairman now owns 650,625 shares in the company, valued at approximately $15,231,131.25. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 122,500 shares of company stock valued at $2,724,700. 39.93% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its holdings in Plains Group Holdings, L.P. by 0.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,922 shares of the pipeline company’s stock valued at $338,000 after purchasing an additional 45 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Plains Group Holdings, L.P. by 1.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the pipeline company’s stock worth $195,000 after acquiring an additional 103 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Plains Group Holdings, L.P. by 2.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,648 shares of the pipeline company’s stock worth $302,000 after acquiring an additional 210 shares during the last quarter. Endurance Wealth Management Inc. lifted its holdings in Plains Group Holdings, L.P. by 1.1% during the 1st quarter. Endurance Wealth Management Inc. now owns 19,924 shares of the pipeline company’s stock worth $623,000 after buying an additional 217 shares in the last quarter. Finally, Homrich & Berg lifted its holdings in Plains Group Holdings, L.P. by 1.1% during the 2nd quarter. Homrich & Berg now owns 34,014 shares of the pipeline company’s stock worth $890,000 after buying an additional 354 shares in the last quarter. Institutional investors own 83.17% 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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