$8.17 Billion in Sales Expected for Plains GP Holdings, L.P. (NYSE:PAGP) This Quarter

Wall Street brokerages expect that Plains GP Holdings, L.P. (NYSE:PAGP) will report $8.17 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Plains GP’s earnings, with estimates ranging from $6.08 billion to $10.16 billion. Plains GP posted sales of $5.83 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 40.1%. The firm is expected to issue its next quarterly earnings report after the market closes on Tuesday, November 2nd.

According to Zacks, analysts expect that Plains GP will report full year sales of $35.92 billion for the current fiscal year, with estimates ranging from $31.58 billion to $38.44 billion. For the next fiscal year, analysts forecast that the business will report sales of $34.12 billion, with estimates ranging from $25.61 billion to $38.94 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Plains GP.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Tuesday, August 3rd. The pipeline company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.64). The company had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $7.54 billion. Plains GP had a negative return on equity of 0.02% and a negative net margin of 0.01%.

PAGP has been the subject of a number of research analyst reports. Bank of America assumed coverage on shares of Plains GP in a report on Tuesday, September 28th. They issued an “underperform” rating for the company. Zacks Investment Research cut shares of Plains GP from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 16th. Wells Fargo & Company lifted their target price on shares of Plains GP from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Morgan Stanley upgraded Plains GP from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a research report on Friday, July 16th. Finally, Raymond James raised their price target on Plains GP from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, July 21st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.86.

Institutional investors have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. grew its position in Plains GP by 9,023.6% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 13,244,281 shares of the pipeline company’s stock worth $124,496,000 after buying an additional 13,099,116 shares during the period. First Trust Advisors LP raised its position in Plains GP by 2,156.9% in the second quarter. First Trust Advisors LP now owns 7,612,786 shares of the pipeline company’s stock worth $90,897,000 after acquiring an additional 7,275,478 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Plains GP by 56.7% during the second quarter. Clearbridge Investments LLC now owns 6,311,853 shares of the pipeline company’s stock valued at $75,364,000 after buying an additional 2,282,622 shares in the last quarter. RR Advisors LLC raised its holdings in Plains GP by 95.7% during the second quarter. RR Advisors LLC now owns 4,302,000 shares of the pipeline company’s stock valued at $51,364,000 after buying an additional 2,104,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Plains GP by 31.1% during the second quarter. Goldman Sachs Group Inc. now owns 7,891,813 shares of the pipeline company’s stock valued at $94,229,000 after purchasing an additional 1,871,340 shares during the period. Hedge funds and other institutional investors own 86.87% of the company’s stock.

PAGP traded up $0.18 during trading on Monday, hitting $11.56. The company’s stock had a trading volume of 40,720 shares, compared to its average volume of 2,550,589. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 0.76. Plains GP has a twelve month low of $5.78 and a twelve month high of $12.95. The business’s fifty day simple moving average is $10.35 and its 200 day simple moving average is $10.56. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -1,147.00 and a beta of 2.20.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Friday, October 29th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 6.23%. The ex-dividend date of this dividend is Thursday, October 28th. Plains GP’s payout ratio is currently 9.24%.

Plains GP Company Profile

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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