Plains Group Holdings, L.P. (NYSE:PAGP) Earns “Buy” Rating from Mizuho

Mizuho reiterated their buy rating on shares of Plains Group Holdings, L.P. (NYSE:PAGP) in a research note released on Friday, October 20th. The brokerage currently has a $27.00 target price on the pipeline company’s stock.

Several other equities analysts also recently weighed in on the company. Barclays PLC reaffirmed a buy rating and issued a $26.00 price objective on shares of Plains Group Holdings, L.P. in a research note on Thursday, October 19th. BMO Capital Markets set a $25.00 target price on Plains Group Holdings, L.P. and gave the company a buy rating in a report on Tuesday, October 17th. BidaskClub cut Plains Group Holdings, L.P. from a sell rating to a strong sell rating in a report on Tuesday, October 17th. Robert W. Baird set a $20.00 target price on Plains Group Holdings, L.P. and gave the company a hold rating in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded Plains Group Holdings, L.P. from a strong sell rating to a hold rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $27.12.

Plains Group Holdings, L.P. (PAGP) opened at 20.20 on Friday. The company’s market capitalization is $3.10 billion. The stock’s 50 day moving average price is $21.83 and its 200-day moving average price is $24.95. 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 the 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 analysts’ expectations of $5.02 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. Analysts predict that Plains Group Holdings, L.P. will post $1.09 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.94%. Plains Group Holdings, L.P.’s dividend payout ratio is presently 333.50%.

In related news, Director Everardo Goyanes purchased 20,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $21.25 per share, with a total value of $425,000.00. Following the completion of the acquisition, the director now owns 42,305 shares of the company’s stock, valued at $898,981.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Greg L. Armstrong purchased 50,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was bought at an average cost of $21.53 per share, for a total transaction of $1,076,500.00. Following the acquisition, the chairman now directly owns 700,625 shares of the company’s stock, valued at approximately $15,084,456.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 72,500 shares of company stock valued at $1,554,200. Insiders own 39.93% of the company’s stock.

Large investors have recently made changes to their positions in the business. Penserra Capital Management LLC acquired a new stake in Plains Group Holdings, L.P. during the 2nd quarter valued at $103,000. The Manufacturers Life Insurance Company raised its stake in Plains Group Holdings, L.P. by 11.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 428 shares during the period. Paloma Partners Management Co acquired a new stake in Plains Group Holdings, L.P. during the 1st quarter valued at $211,000. Proficio Capital Partners LLC raised its stake in Plains Group Holdings, L.P. by 481.5% during the 1st quarter. Proficio Capital Partners LLC now owns 7,548 shares of the pipeline company’s stock valued at $211,000 after purchasing an additional 6,250 shares during the period. Finally, Shell Asset Management Co. raised its stake in Plains Group Holdings, L.P. by 110.8% during the 2nd quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock valued at $209,000 after purchasing an additional 4,202 shares during the period. 83.34% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Plains Group Holdings, L.P. (NYSE:PAGP)

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