Wall Street brokerages expect Plains GP Holdings LP (NYSE:PAGP) to report sales of $8.51 billion for the current quarter, Zacks reports. Five analysts have provided estimates for Plains GP’s earnings, with estimates ranging from $7.38 billion to $9.23 billion. Plains GP posted sales of $8.79 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 5th.
On average, analysts expect that Plains GP will report full-year sales of $35.25 billion for the current year, with estimates ranging from $34.11 billion to $36.78 billion. For the next financial year, analysts expect that the company will post sales of $34.28 billion, with estimates ranging from $19.35 billion to $40.90 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Plains GP.
Plains GP (NYSE:PAGP) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $7.87 billion. Plains GP had a return on equity of 3.78% and a net margin of 1.47%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 earnings per share.
In other Plains GP news, insider Emg Investment, Llc sold 7,328,291 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.31% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System grew its holdings in shares of Plains GP by 18.8% during the second quarter. California Public Employees Retirement System now owns 1,032,790 shares of the pipeline company’s stock worth $25,789,000 after buying an additional 163,147 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Plains GP by 114.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 19,129 shares of the pipeline company’s stock worth $478,000 after buying an additional 10,200 shares in the last quarter. Worldquant Millennium Advisors LLC grew its holdings in shares of Plains GP by 3.1% during the second quarter. Worldquant Millennium Advisors LLC now owns 673,767 shares of the pipeline company’s stock worth $16,824,000 after buying an additional 20,199 shares in the last quarter. Advisors Capital Management LLC grew its holdings in shares of Plains GP by 2.7% during the second quarter. Advisors Capital Management LLC now owns 470,995 shares of the pipeline company’s stock worth $11,761,000 after buying an additional 12,255 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Plains GP by 9,160.8% during the second quarter. Nuveen Asset Management LLC now owns 1,841,232 shares of the pipeline company’s stock valued at $45,975,000 after purchasing an additional 1,821,350 shares during the last quarter. Institutional investors own 90.33% of the company’s stock.
NYSE PAGP traded down $0.08 on Friday, reaching $21.90. The company had a trading volume of 1,500,383 shares, compared to its average volume of 1,475,274. The stock’s 50 day moving average is $24.19 and its 200-day moving average is $24.08. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 10.38 and a beta of 1.15. 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 52 week low of $19.17 and a 52 week high of $26.99.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.58%. Plains GP’s dividend payout ratio (DPR) is currently 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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