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

Brokerages predict that Plains GP Holdings LP (NYSE:PAGP) will announce earnings of $0.41 per share for the current quarter, Zacks Investment Research reports. 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 would indicate a negative year-over-year growth rate of 41.4%. The company is expected to issue its next earnings results on Tuesday, November 5th.

According to Zacks, 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 financial year, analysts anticipate that the company will report earnings of $2.25 per share, with EPS estimates ranging from $1.46 to $3.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Plains GP.

Plains GP (NYSE:PAGP) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.08. The company had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $7.87 billion. Plains GP had a net margin of 1.47% and a return on equity of 3.78%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share.

PAGP has been the subject of several research analyst reports. Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating in a report on Thursday, June 13th. TheStreet cut shares of Plains GP from a “b-” rating to a “c+” rating in a report on Thursday, May 9th. Zacks Investment Research cut shares of Plains GP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, ValuEngine cut shares of 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 issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.73.

In other Plains GP 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 transaction of $169,283,522.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Everardo Goyanes sold 20,000 shares of the company’s stock in a transaction on 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 directly owns 32,305 shares in the company, valued at $794,703. The disclosure for this sale can be found here. Insiders own 16.31% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc raised its position in Plains GP by 42.0% during the fourth quarter. Legal & General Group Plc now owns 127,445 shares of the pipeline company’s stock worth $2,561,000 after acquiring an additional 37,702 shares in the last quarter. Perella Weinberg Partners Capital Management LP increased its holdings in shares of Plains GP by 18.4% in the second quarter. Perella Weinberg Partners Capital Management LP now owns 1,738,750 shares of the pipeline company’s stock valued at $43,417,000 after purchasing an additional 270,107 shares during the last quarter. Brasada Capital Management LP increased its holdings in shares of Plains GP by 6.8% in the first quarter. Brasada Capital Management LP now owns 62,933 shares of the pipeline company’s stock valued at $1,568,000 after purchasing an additional 3,992 shares during the last quarter. Tortoise Index Solutions LLC increased its holdings in shares of Plains GP by 1.1% in the first quarter. Tortoise Index Solutions LLC now owns 176,673 shares of the pipeline company’s stock valued at $4,403,000 after purchasing an additional 1,916 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Plains GP by 349.8% in the first quarter. DNB Asset Management AS now owns 72,043 shares of the pipeline company’s stock valued at $1,795,000 after purchasing an additional 56,027 shares during the last quarter. 90.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Plains GP stock traded up $0.22 on Thursday, hitting $22.25. The company had a trading volume of 2,241,084 shares, compared to its average volume of 1,470,631. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 10.55 and a beta of 1.15. Plains GP has a twelve month low of $19.17 and a twelve month high of $26.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.02 and a quick ratio of 0.90. The company has a 50-day simple moving average of $24.29.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.47%. 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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Earnings History and Estimates for Plains GP (NYSE:PAGP)

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