Zacks: Analysts Anticipate Plains GP Holdings, L.P. (NYSE:PAGP) to Post $0.19 EPS

Equities analysts forecast that Plains GP Holdings, L.P. (NYSE:PAGP) will announce $0.19 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Plains GP’s earnings. The lowest EPS estimate is $0.13 and the highest is $0.25. Plains GP posted earnings per share of $0.09 in the same quarter last year, which indicates a positive year-over-year growth rate of 111.1%. The company is expected to announce its next earnings report on Monday, November 1st.

On average, analysts expect that Plains GP will report full year earnings of $0.37 per share for the current year, with EPS estimates ranging from $0.35 to $0.39. For the next fiscal year, analysts expect that the firm will report earnings of $1.02 per share, with EPS estimates ranging from $0.78 to $1.28. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Plains GP.

Several equities research analysts have commented on PAGP shares. Raymond James upped their price target on Plains GP from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 21st. Wells Fargo & Company increased their price target on Plains GP from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. Citigroup increased their price target on Plains GP from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 13th. Zacks Investment Research downgraded Plains GP from a “hold” rating to a “strong sell” rating in a report on Thursday, September 16th. Finally, Morgan Stanley raised Plains GP from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a report on Friday, July 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.86.

Several institutional investors have recently made changes to their positions in PAGP. IFP Advisors Inc raised its position in shares of Plains GP by 207.0% during the 1st quarter. IFP Advisors Inc now owns 2,904 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 1,958 shares during the period. Quadrant Capital Group LLC acquired a new stake in shares of Plains GP during the 1st quarter worth approximately $31,000. Patriot Financial Group Insurance Agency LLC raised its position in shares of Plains GP by 56.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,027 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 1,086 shares during the period. PNC Managed Account Solutions Inc. acquired a new stake in shares of Plains GP during the 2nd quarter worth approximately $51,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in shares of Plains GP during the 1st quarter worth approximately $118,000. Institutional investors and hedge funds own 86.87% of the company’s stock.

PAGP traded up $0.08 during trading on Friday, reaching $10.66. 2,330,867 shares of the stock were exchanged, compared to its average volume of 2,587,381. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.92 and a quick ratio of 0.81. Plains GP has a 1 year low of $5.55 and a 1 year high of $12.95. The business’s 50 day moving average price is $10.23 and its two-hundred day moving average price is $10.43. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -1,066.00 and a beta of 2.20.

The business also recently declared a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, July 30th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend was Thursday, July 29th. Plains GP’s payout ratio is 9.24%.

About Plains GP

Plains GP Holdings LP owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil, natural gas liquids and natural gas through its indirect investment in Plains All American Pipeline, L.P. The firm operates through the following segments: Transportation, Facilities and Supply and Logistics.

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Earnings History and Estimates for Plains GP (NYSE:PAGP)

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