Analysts forecast that Plains GP Holdings LP (NYSE:PAGP) will announce $10.84 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Plains GP’s earnings, with the lowest sales estimate coming in at $9.04 billion and the highest estimate coming in at $12.65 billion. Plains GP posted sales of $8.40 billion in the same quarter last year, which suggests a positive year over year growth rate of 29%. The firm is scheduled to announce its next earnings results after the market closes on Tuesday, May 7th.
According to Zacks, analysts expect that Plains GP will report full year sales of $37.71 billion for the current fiscal year, with estimates ranging from $34.54 billion to $40.88 billion. For the next financial year, analysts expect that the business will report sales of $28.69 billion, with estimates ranging from $22.86 billion to $34.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Plains GP.
Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Tuesday, February 5th. The pipeline company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.61. Plains GP had a return on equity of 2.64% and a net margin of 0.98%. The company had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $10.52 billion. During the same period in the prior year, the business earned ($5.16) earnings per share. Plains GP’s revenue for the quarter was up 15.5% compared to the same quarter last year.
Several brokerages recently commented on PAGP. TheStreet raised Plains GP from a “c” rating to a “b-” rating in a research report on Friday, April 5th. Zacks Investment Research raised Plains GP from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $28.57.
PAGP stock traded down $0.27 during midday trading on Thursday, hitting $24.15. The stock had a trading volume of 905,718 shares, compared to its average volume of 1,086,451. The stock has a market cap of $3.85 billion, a P/E ratio of 11.45 and a beta of 1.23. Plains GP has a 52 week low of $19.17 and a 52 week high of $27.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 0.84.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.36 dividend. This is a boost from Plains GP’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains GP’s dividend payout ratio (DPR) is 56.87%.
A number of hedge funds have recently modified their holdings of PAGP. Energy Income Partners LLC bought a new position in shares of Plains GP during the fourth quarter valued at $81,279,000. Cohen & Steers Inc. lifted its holdings in shares of Plains GP by 296.3% during the fourth quarter. Cohen & Steers Inc. now owns 4,917,057 shares of the pipeline company’s stock valued at $98,833,000 after acquiring an additional 3,676,379 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Plains GP by 148.1% during the third quarter. Clearbridge Investments LLC now owns 2,861,825 shares of the pipeline company’s stock valued at $70,201,000 after acquiring an additional 1,708,217 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Plains GP by 203.7% during the fourth quarter. APG Asset Management N.V. now owns 1,581,500 shares of the pipeline company’s stock valued at $27,808,000 after acquiring an additional 1,060,836 shares during the period. Finally, Chickasaw Capital Management LLC lifted its holdings in shares of Plains GP by 8.3% during the first quarter. Chickasaw Capital Management LLC now owns 8,011,666 shares of the pipeline company’s stock valued at $199,651,000 after acquiring an additional 610,930 shares during the period. 85.46% of the stock is owned by hedge funds and other institutional investors.
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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