Plains GP Holdings LP (NYSE:PAGP) Expected to Announce Earnings of $0.41 Per Share

Wall Street analysts expect Plains GP Holdings LP (NYSE:PAGP) to report earnings of $0.41 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Plains GP’s earnings. The highest EPS estimate is $0.61 and the lowest is $0.25. Plains GP posted earnings of $0.70 per share in the same quarter last year, which would suggest a negative year over year growth rate of 41.4%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 5th.

On average, analysts expect that Plains GP will report full-year earnings of $2.44 per share for the current year, with EPS estimates ranging from $1.94 to $2.95. For the next fiscal year, analysts forecast that the company will report earnings of $2.25 per share, with EPS estimates ranging from $1.46 to $3.40. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Plains GP.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. Plains GP had a return on equity of 3.78% and a net margin of 1.47%. The business had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.87 billion. During the same period last year, the business posted $0.05 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis.

A number of research firms recently issued reports on PAGP. TheStreet lowered Plains GP from a “b-” rating to a “c+” rating in a report on Thursday, May 9th. Wolfe Research upgraded Plains GP from a “peer perform” rating to an “outperform” rating in a report on Thursday, June 13th. Zacks Investment Research lowered Plains GP from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, ValuEngine lowered Plains GP from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Plains GP currently has an average rating of “Buy” and a consensus price target of $28.73.

In other news, Director Everardo Goyanes sold 20,000 shares of Plains GP stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $24.60, for a total transaction of $492,000.00. Following the sale, the director now owns 32,305 shares in the company, valued at $794,703. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Emg Investment, Llc sold 7,328,291 shares of Plains GP stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total value of $169,283,522.10. The disclosure for this sale can be found here. 16.31% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC acquired a new stake in shares of Plains GP during the second quarter worth about $38,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Plains GP during the second quarter worth about $42,000. Squar Milner Financial Services LLC acquired a new stake in shares of Plains GP during the first quarter worth about $85,000. Advisor Group Inc. increased its position in shares of Plains GP by 107.1% during the second quarter. Advisor Group Inc. now owns 4,738 shares of the pipeline company’s stock worth $118,000 after purchasing an additional 2,450 shares in the last quarter. Finally, Price Wealth Management Inc. acquired a new stake in shares of Plains GP during the second quarter worth about $141,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Shares of PAGP traded down $0.77 during midday trading on Thursday, hitting $22.07. 1,644,310 shares of the stock were exchanged, compared to its average volume of 1,408,681. Plains GP has a 52-week low of $19.17 and a 52-week high of $27.00. The stock’s fifty day moving average is $24.50. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 10.46 and a beta of 1.15. The company has a current ratio of 1.02, a quick ratio of 0.90 and a debt-to-equity ratio of 0.68.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend is Tuesday, July 30th. Plains GP’s dividend payout ratio is presently 68.25%.

About Plains GP

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

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