Analysts expect that Plains GP Holdings LP (NYSE:PAGP) will report earnings of $0.41 per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Plains GP’s earnings, with the lowest EPS estimate coming in at $0.25 and the highest estimate coming in at $0.61. Plains GP posted earnings per share of $0.70 in the same quarter last year, which suggests a negative year over year growth rate of 41.4%. The firm is scheduled to report its next earnings results 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 expect that the firm will post 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 sell-side research analysts that cover Plains GP.
Plains GP (NYSE:PAGP) last posted 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 net margin of 1.47% and a return on equity of 3.78%. The company had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same quarter in the previous year, the business posted $0.05 EPS. The firm’s revenue was up 2.1% on a year-over-year basis.
In other news, insider Emg Investment, Llc sold 7,328,291 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total value of $169,283,522.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.31% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Plains GP by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 338,322 shares of the pipeline company’s stock valued at $6,800,000 after buying an additional 7,734 shares during the last quarter. Northern Trust Corp raised its stake in Plains GP by 21.9% during the 4th quarter. Northern Trust Corp now owns 441,328 shares of the pipeline company’s stock valued at $8,870,000 after buying an additional 79,278 shares during the last quarter. Bank of America Corp DE grew its position in shares of Plains GP by 21.1% during the 4th quarter. Bank of America Corp DE now owns 466,603 shares of the pipeline company’s stock valued at $9,379,000 after acquiring an additional 81,211 shares during the period. Legal & General Group Plc grew its position in shares of Plains GP by 42.0% during the 4th quarter. Legal & General Group Plc now owns 127,445 shares of the pipeline company’s stock valued at $2,561,000 after acquiring an additional 37,702 shares during the period. Finally, DNB Asset Management AS grew its position in shares of Plains GP by 349.8% during the 1st quarter. DNB Asset Management AS now owns 72,043 shares of the pipeline company’s stock valued at $1,795,000 after acquiring an additional 56,027 shares during the period. Institutional investors and hedge funds own 90.33% of the company’s stock.
NYSE PAGP traded down $0.08 on Thursday, hitting $21.90. 1,500,383 shares of the stock were exchanged, compared to its average volume of 1,475,274. The company has a quick ratio of 0.90, a current ratio of 1.02 and a debt-to-equity ratio of 0.68. Plains GP has a fifty-two week low of $19.17 and a fifty-two week high of $26.99. The company has a market cap of $3.67 billion, a PE ratio of 10.38 and a beta of 1.15. The company has a 50-day moving average price of $24.19 and a 200-day moving average price of $24.08.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend was Tuesday, July 30th. Plains GP’s payout ratio is 68.25%.
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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