Equities research analysts expect Plains GP Holdings LP (NYSE:PAGP) to announce $4.91 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for Plains GP’s earnings. The lowest sales estimate is $3.28 billion and the highest is $6.55 billion. Plains GP posted sales of $5.95 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 17.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, February 6th.
On average, analysts expect that Plains GP will report full year sales of $4.91 billion for the current fiscal year, with estimates ranging from $21.89 billion to $26.02 billion. For the next financial year, analysts forecast that the business will post sales of $24.98 billion per share, with estimates ranging from $18.95 billion to $28.73 billion. Zacks Investment Research’s 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 results on Monday, November 6th. The pipeline company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.20). Plains GP had a return on equity of 0.50% and a net margin of 0.25%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year.
A number of research analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Plains GP in a research note on Thursday, January 4th. They issued an “outperform” rating and a $25.00 target price on the stock. Bank of America assumed coverage on shares of Plains GP in a research note on Tuesday. They issued a “neutral” rating on the stock. ValuEngine cut shares of Plains GP from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. BidaskClub cut shares of Plains GP from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, Seaport Global Securities assumed coverage on shares of Plains GP in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $23.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $25.71.
Several hedge funds and other institutional investors have recently bought and sold shares of PAGP. The Manufacturers Life Insurance Company raised its position in shares of Plains GP by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 428 shares during the period. Toronto Dominion Bank raised its position in shares of Plains GP by 260.0% in the third quarter. Toronto Dominion Bank now owns 6,110 shares of the pipeline company’s stock valued at $134,000 after purchasing an additional 4,413 shares during the period. Penserra Capital Management LLC raised its position in shares of Plains GP by 84.2% in the third quarter. Penserra Capital Management LLC now owns 7,254 shares of the pipeline company’s stock valued at $158,000 after purchasing an additional 3,315 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Plains GP by 126.9% in the third quarter. Chicago Partners Investment Group LLC now owns 8,406 shares of the pipeline company’s stock valued at $184,000 after purchasing an additional 4,702 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Plains GP by 13.9% in the second quarter. HighTower Advisors LLC now owns 8,621 shares of the pipeline company’s stock valued at $225,000 after purchasing an additional 1,050 shares during the period. 83.05% of the stock is currently owned by institutional investors.
Plains GP (NYSE PAGP) traded up $0.15 on Friday, reaching $24.14. 1,260,000 shares of the company’s stock were exchanged, compared to its average volume of 1,470,000. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $6,970.00, a PE ratio of 54.86 and a beta of 1.51. Plains GP has a 52-week low of $18.98 and a 52-week high of $34.63.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Tuesday, January 30th. Plains GP’s dividend payout ratio (DPR) is currently 272.73%.
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About Plains GP
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.
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