Brokerages forecast that Plains GP Holdings LP (NYSE:PAGP) will announce $0.41 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Plains GP’s earnings, with estimates ranging from $0.25 to $0.61. Plains GP reported earnings of $0.70 per share in the same quarter last year, which suggests a negative year over year growth rate of 41.4%. The firm is scheduled to announce its next 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 financial year, with EPS estimates ranging from $1.94 to $2.95. For the next year, analysts expect that the business will report earnings of $2.25 per share, with EPS estimates ranging from $1.46 to $3.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Plains GP.
Plains GP (NYSE:PAGP) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same period last year, the firm posted $0.05 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis.
Shares of PAGP traded down $0.08 during mid-day trading on Thursday, reaching $21.90. The company’s stock had a trading volume of 1,500,383 shares, compared to its average volume of 1,475,274. Plains GP has a 1-year low of $19.17 and a 1-year high of $26.99. The stock has a market cap of $3.67 billion, a P/E ratio of 10.38 and a beta of 1.15. The business has a 50-day simple moving average of $24.19 and a two-hundred day simple moving average of $24.08. 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 was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.36 dividend. The ex-dividend date was Tuesday, July 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.58%. Plains GP’s payout ratio is 68.25%.
In other news, insider Emg Investment, Llc sold 7,328,291 shares of Plains GP stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total value of $169,283,522.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 16.31% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Plains GP by 0.8% in the 2nd quarter. US Bancorp DE now owns 72,608 shares of the pipeline company’s stock valued at $1,813,000 after purchasing an additional 553 shares during the last quarter. HighTower Advisors LLC grew its position in Plains GP by 0.4% during the 2nd quarter. HighTower Advisors LLC now owns 177,098 shares of the pipeline company’s stock worth $4,422,000 after acquiring an additional 641 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Plains GP by 3.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,083 shares of the pipeline company’s stock worth $550,000 after acquiring an additional 802 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Plains GP by 5.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 15,397 shares of the pipeline company’s stock worth $384,000 after acquiring an additional 862 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. grew its position in Plains GP by 4.2% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 25,024 shares of the pipeline company’s stock worth $625,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 90.33% of the company’s stock.
Plains GP Company Profile
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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