Jefferies Group Comments on Plains GP Holdings LP’s FY2017 Earnings (PAGP)

Plains GP Holdings LP (NYSE:PAGP) – Equities research analysts at Jefferies Group issued their FY2017 earnings per share estimates for Plains GP in a research note issued to investors on Wednesday. Jefferies Group analyst C. Sighinolfi forecasts that the pipeline company will earn $0.86 per share for the year. Jefferies Group also issued estimates for Plains GP’s Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.63 EPS, Q4 2018 earnings at $0.68 EPS, FY2018 earnings at $2.11 EPS, FY2019 earnings at $2.49 EPS and FY2020 earnings at $3.06 EPS.

Plains GP (NYSE:PAGP) last issued its earnings results on Monday, November 6th. The pipeline company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.20). Plains GP had a net margin of 0.25% and a return on equity of 0.50%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the company posted $0.39 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis.

A number of other brokerages have also recently commented on PAGP. Zacks Investment Research cut shares of Plains GP from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 6th. BidaskClub upgraded shares of Plains GP from a “sell” rating to a “hold” rating in a research note on Saturday, September 2nd. ValuEngine cut shares of Plains GP from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Seaport Global Securities assumed coverage on shares of Plains GP in a research note on Tuesday, October 10th. They set a “neutral” rating and a $23.00 target price for the company. Finally, Stifel Nicolaus raised their target price on shares of Plains GP from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Plains GP presently has an average rating of “Hold” and a consensus target price of $25.75.

Shares of Plains GP (PAGP) opened at $21.97 on Friday. The company has a market cap of $3,387.97, a price-to-earnings ratio of 48.82 and a beta of 1.48. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.00 and a quick ratio of 0.78. Plains GP has a 12 month low of $18.98 and a 12 month high of $35.86.

Large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC acquired a new position in shares of Plains GP in the 2nd quarter worth approximately $103,000. The Manufacturers Life Insurance Company lifted its position in shares of Plains GP by 11.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 428 shares during the period. Toronto Dominion Bank lifted its position in shares of Plains GP by 260.0% in the 3rd quarter. Toronto Dominion Bank now owns 6,110 shares of the pipeline company’s stock worth $134,000 after purchasing an additional 4,413 shares during the period. Chicago Partners Investment Group LLC lifted its position in shares of Plains GP by 126.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,406 shares of the pipeline company’s stock worth $184,000 after purchasing an additional 4,702 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of Plains GP by 13.9% in the 2nd quarter. HighTower Advisors LLC now owns 8,621 shares of the pipeline company’s stock worth $225,000 after purchasing an additional 1,050 shares during the period. Institutional investors and hedge funds own 83.05% of the company’s stock.

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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.

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

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