Plains Group Holdings, L.P. (NYSE:PAGP) Stake Boosted by Eagle Global Advisors LLC

Eagle Global Advisors LLC raised its stake in shares of Plains Group Holdings, L.P. (NYSE:PAGP) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,173,903 shares of the pipeline company’s stock after buying an additional 22,287 shares during the period. Plains Group Holdings, L.P. comprises about 1.6% of Eagle Global Advisors LLC’s portfolio, making the stock its 18th largest position. Eagle Global Advisors LLC owned approximately 1.43% of Plains Group Holdings, L.P. worth $56,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Chicago Partners Investment Group LLC raised its position in shares of 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 during the last quarter. Searle & CO. purchased a new position in shares of Plains Group Holdings, L.P. during the second quarter valued at $209,000. Shell Asset Management Co. raised its position in shares of Plains Group Holdings, L.P. by 110.8% in 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 last quarter. Paloma Partners Management Co purchased a new position in shares of Plains Group Holdings, L.P. during the first quarter valued at $211,000. Finally, Proficio Capital Partners LLC raised its position in shares of Plains Group Holdings, L.P. by 481.5% in the first quarter. Proficio Capital Partners LLC now owns 7,548 shares of the pipeline company’s stock valued at $211,000 after buying an additional 6,250 shares during the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Plains Group Holdings, L.P. (PAGP) opened at 19.77 on Friday. The company’s 50-day moving average price is $25.15 and its 200 day moving average price is $28.53. Plains Group Holdings, L.P. has a 52 week low of $19.60 and a 52 week high of $36.59. The company’s market cap is $3.03 billion.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate 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 the consensus estimate of $5.02 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The firm’s revenue was up 22.8% on a year-over-year basis. On average, equities analysts forecast that Plains Group Holdings, L.P. will post $0.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.13%. The ex-dividend date was Thursday, July 27th. Plains Group Holdings, L.P.’s payout ratio is 333.50%.

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Several research analysts have weighed in on PAGP shares. Zacks Investment Research lowered Plains Group Holdings, L.P. from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Raymond James Financial, Inc. raised Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research report on Monday, May 22nd. They noted that the move was a valuation call. Macquarie reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Jefferies Group LLC lowered Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and upped their target price for the stock from $12.00 to $27.00 in a research report on Friday, April 21st. Finally, Stifel Nicolaus dropped their target price on Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $27.67.

In related news, EVP Richard K. Mcgee acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $21.08 per share, for a total transaction of $52,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Greg L. Armstrong acquired 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 directly owns 650,625 shares of the company’s stock, valued at $15,231,131.25. The disclosure for this purchase can be found here. Insiders bought a total of 122,500 shares of company stock valued at $2,724,700 over the last quarter. 39.93% of the stock is owned by corporate insiders.

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.

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

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