Equities analysts predict that Plains GP Holdings LP (NYSE:PAGP) will report sales of $8.26 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Plains GP’s earnings, with the lowest sales estimate coming in at $7.30 billion and the highest estimate coming in at $9.23 billion. Plains GP reported sales of $8.79 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 6%. The firm is expected to announce its next quarterly earnings results after the market closes on Tuesday, November 5th.
According to Zacks, analysts expect that Plains GP will report full year sales of $33.01 billion for the current fiscal year, with estimates ranging from $28.48 billion to $35.09 billion. For the next financial year, analysts anticipate that the firm will report sales of $31.59 billion, with estimates ranging from $16.13 billion to $38.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Plains GP.
Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Plains GP had a net margin of 1.47% and a return on equity of 3.71%. The business had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.87 billion. During the same period last year, the firm posted $0.05 EPS. The company’s revenue was up 2.1% on a year-over-year basis.
PAGP traded down $0.19 during trading on Thursday, reaching $19.91. 2,204,007 shares of the company traded hands, compared to its average volume of 1,547,992. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.87 and a current ratio of 1.00. Plains GP has a 12-month low of $19.17 and a 12-month high of $25.82. The firm has a fifty day simple moving average of $21.22 and a 200 day simple moving average of $23.23. The company has a market cap of $3.35 billion, a P/E ratio of 9.44 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date of this dividend is Wednesday, October 30th. Plains GP’s dividend payout ratio (DPR) is presently 68.25%.
Several hedge funds have recently bought and sold shares of PAGP. CIBC Private Wealth Group LLC grew its holdings in shares of Plains GP by 123.5% in the third quarter. CIBC Private Wealth Group LLC now owns 5,245,709 shares of the pipeline company’s stock valued at $111,365,000 after purchasing an additional 2,898,578 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Plains GP by 9,160.8% in 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 in the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Plains GP by 19.8% in the second quarter. Chickasaw Capital Management LLC now owns 9,598,059 shares of the pipeline company’s stock valued at $239,664,000 after purchasing an additional 1,586,393 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Plains GP by 2,027.3% in the second quarter. Invesco Ltd. now owns 1,533,733 shares of the pipeline company’s stock valued at $38,298,000 after purchasing an additional 1,461,634 shares in the last quarter. Finally, Morningstar Investment Services LLC purchased a new position in shares of Plains GP in the second quarter valued at $18,877,000. 86.85% of the stock is owned by hedge funds and other institutional investors.
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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