Brokerages expect that Plains GP Holdings LP (NYSE:PAGP) will report sales of $7.85 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Plains GP’s earnings, with the highest sales estimate coming in at $8.30 billion and the lowest estimate coming in at $7.39 billion. Plains GP reported sales of $8.79 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.7%. The business is scheduled to issue its next quarterly earnings report on Tuesday, February 4th.
On average, analysts expect that Plains GP will report full year sales of $32.37 billion for the current fiscal year, with estimates ranging from $31.91 billion to $32.84 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $29.97 billion, with estimates ranging from $25.92 billion to $34.02 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Plains GP.
Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. Plains GP had a return on equity of 3.30% and a net margin of 1.39%. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $8.15 billion. During the same period last year, the company posted $0.70 EPS. The business’s quarterly revenue was down 10.3% on a year-over-year basis.
PAGP has been the topic of several recent analyst reports. Zacks Investment Research upgraded Plains GP from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Robert W. Baird upgraded shares of Plains GP from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $22.00 to $21.00 in a research note on Monday. Scotiabank assumed coverage on shares of Plains GP in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 price objective for the company. ValuEngine upgraded shares of Plains GP from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Barclays set a $24.00 price target on shares of Plains GP and gave the stock a “hold” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.40.
NYSE PAGP traded down $0.26 during trading hours on Monday, hitting $17.09. 189,752 shares of the company’s stock were exchanged, compared to its average volume of 1,755,068. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 8.14 and a beta of 1.16. The stock has a 50-day simple moving average of $18.60 and a 200 day simple moving average of $21.96. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. Plains GP has a 1-year low of $16.99 and a 1-year high of $25.82.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 8.43%. The ex-dividend date of this dividend was Wednesday, October 30th. Plains GP’s dividend payout ratio (DPR) is currently 68.25%.
In other Plains GP news, Director Everardo Goyanes acquired 20,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $17.91 per share, with a total value of $358,200.00. Following the completion of the purchase, the director now owns 57,305 shares of the company’s stock, valued at $1,026,332.55. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Willie Cw Chiang acquired 60,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $17.14 per share, for a total transaction of $1,028,400.00. Following the completion of the purchase, the chief executive officer now directly owns 135,104 shares of the company’s stock, valued at approximately $2,315,682.56. The disclosure for this purchase can be found here. 16.31% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. raised its stake in shares of Plains GP by 5.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 163,926 shares of the pipeline company’s stock worth $4,085,000 after purchasing an additional 8,694 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Plains GP during the 2nd quarter valued at $42,000. Virginia Retirement Systems ET AL purchased a new position in Plains GP during the 2nd quarter worth $307,000. Kayne Anderson Capital Advisors LP boosted its holdings in Plains GP by 1.9% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 7,216,719 shares of the pipeline company’s stock worth $180,191,000 after acquiring an additional 136,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Plains GP by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 263,323 shares of the pipeline company’s stock worth $6,575,000 after acquiring an additional 20,137 shares in the last quarter. 86.41% of the stock is currently owned by institutional investors and hedge funds.
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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