Brokerages expect Plains GP Holdings LP (NYSE:PAGP) to post $0.28 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Plains GP’s earnings, with the lowest EPS estimate coming in at ($0.32) and the highest estimate coming in at $0.53. Plains GP posted earnings per share of $0.05 during the same quarter last year, which would indicate a positive year-over-year growth rate of 460%. The business is expected to issue its next quarterly earnings results after the market closes on Tuesday, August 6th.
According to Zacks, analysts expect that Plains GP will report full year earnings of $2.27 per share for the current financial year, with EPS estimates ranging from $1.82 to $2.95. For the next fiscal year, analysts expect that the business will post earnings of $2.23 per share, with EPS estimates ranging from $1.39 to $3.40. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Plains GP.
Plains GP (NYSE:PAGP) last issued its quarterly earnings data on Tuesday, May 7th. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.49. The firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $10.54 billion. Plains GP had a return on equity of 3.41% and a net margin of 1.31%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS.
In related news, insider Emg Investment, Llc sold 7,328,291 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total transaction of $169,283,522.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Everardo Goyanes sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $24.60, for a total value of $492,000.00. Following the sale, the director now owns 32,305 shares of the company’s stock, valued at approximately $794,703. The disclosure for this sale can be found here. 16.31% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of PAGP. FDx Advisors Inc. acquired a new position in Plains GP during the second quarter worth $1,066,000. Polianta Ltd acquired a new position in Plains GP during the second quarter worth $1,128,000. Chickasaw Capital Management LLC grew its holdings in Plains GP by 19.8% during the second quarter. Chickasaw Capital Management LLC now owns 9,598,059 shares of the pipeline company’s stock worth $239,664,000 after acquiring an additional 1,586,393 shares during the period. NN Investment Partners Holdings N.V. grew its holdings in Plains GP by 69.8% during the second quarter. NN Investment Partners Holdings N.V. now owns 245,000 shares of the pipeline company’s stock worth $6,117,000 after acquiring an additional 100,707 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Plains GP during the second quarter worth $749,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.
Plains GP stock traded down $0.04 during midday trading on Tuesday, reaching $24.75. 913,181 shares of the stock traded hands, compared to its average volume of 1,363,495. The business has a 50-day simple moving average of $24.36. Plains GP has a 12-month low of $19.17 and a 12-month high of $27.00. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 11.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.90 and a current ratio of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.82%. The ex-dividend date is Tuesday, July 30th. Plains GP’s payout ratio is 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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