Wall Street analysts expect that Plains GP Holdings, L.P. (NYSE:PAGP) will post $0.35 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Plains GP’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.17. Plains GP posted earnings per share of $0.09 during the same quarter last year, which indicates a positive year-over-year growth rate of 288.9%. The company is expected to issue its next earnings results on Tuesday, August 3rd.
On average, analysts expect that Plains GP will report full-year earnings of $0.84 per share for the current year, with EPS estimates ranging from $0.74 to $0.93. For the next fiscal year, analysts expect that the firm will post earnings of $1.02 per share, with EPS estimates ranging from $0.84 to $1.20. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Plains GP.
Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Tuesday, May 4th. The pipeline company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.20. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $7.30 billion. Plains GP had a net margin of 0.35% and a return on equity of 0.73%.
PAGP has been the topic of several research analyst reports. Zacks Investment Research raised shares of Plains GP from a “sell” rating to a “hold” rating in a research report on Tuesday, June 1st. Wolfe Research restated a “peer perform” rating on shares of Plains GP in a research note on Wednesday, March 17th. Morgan Stanley upped their price target on shares of Plains GP from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 26th. Finally, Barclays decreased their price target on shares of Plains GP from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, March 19th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $11.75.
A number of institutional investors have recently made changes to their positions in PAGP. Amundi Pioneer Asset Management Inc. grew its stake in Plains GP by 5.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 163,926 shares of the pipeline company’s stock worth $4,085,000 after buying an additional 8,694 shares in the last quarter. Cowa LLC acquired a new stake in Plains GP during the fourth quarter worth about $185,000. Jennison Associates LLC grew its stake in Plains GP by 230.2% during the fourth quarter. Jennison Associates LLC now owns 1,681,094 shares of the pipeline company’s stock worth $14,205,000 after buying an additional 1,171,905 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Plains GP by 63.0% in the 4th quarter. Russell Investments Group Ltd. now owns 187,774 shares of the pipeline company’s stock valued at $1,585,000 after purchasing an additional 72,580 shares in the last quarter. Finally, Vident Investment Advisory LLC boosted its stake in shares of Plains GP by 4.6% in the 4th quarter. Vident Investment Advisory LLC now owns 145,165 shares of the pipeline company’s stock valued at $1,227,000 after purchasing an additional 6,430 shares in the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.
Shares of PAGP opened at $12.72 on Friday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 29.58 and a beta of 2.21. The company has a 50-day moving average of $10.32. Plains GP has a fifty-two week low of $5.45 and a fifty-two week high of $12.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.84.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Friday, April 30th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, April 29th. This represents a $0.72 dividend on an annualized basis and a yield of 5.66%. Plains GP’s payout ratio is 9.24%.
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, and trucks.
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