Brokerages forecast that Plains GP Holdings LP (NYSE:PAGP) will announce earnings of $0.32 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Plains GP’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.49. Plains GP posted earnings per share of $0.16 during the same quarter last year, which suggests a positive year over year growth rate of 100%. The business is expected to report its next quarterly earnings report on Monday, August 6th.
According to Zacks, analysts expect that Plains GP will report full year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.00 to $1.79. For the next year, analysts expect that the company will post earnings of $1.70 per share, with EPS estimates ranging from $1.24 to $2.18. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Plains GP.
Get Plains GP alerts:Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Tuesday, May 8th. The pipeline company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.08). Plains GP had a positive return on equity of 0.70% and a negative net margin of 2.63%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the business posted $0.34 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis.
PAGP has been the subject of several research analyst reports. Bank of America lowered their price objective on Plains GP from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Deutsche Bank assumed coverage on Plains GP in a research note on Thursday, April 19th. They issued a “buy” rating and a $29.00 target price for the company. Morgan Stanley upgraded Plains GP from an “equal weight” rating to an “overweight” rating and set a $32.00 target price for the company in a research note on Tuesday, February 13th. Robert W. Baird set a $22.00 target price on Plains GP and gave the company a “hold” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research upgraded Plains GP from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.65.
A number of hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC boosted its stake in Plains GP by 0.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 324,183 shares of the pipeline company’s stock valued at $7,051,000 after purchasing an additional 2,793 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Plains GP by 12.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 19,567 shares of the pipeline company’s stock worth $426,000 after buying an additional 2,107 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Plains GP by 34.3% during the 1st quarter. Royal Bank of Canada now owns 1,142,961 shares of the pipeline company’s stock worth $24,859,000 after buying an additional 292,147 shares in the last quarter. Atlantic Trust Group LLC lifted its position in shares of Plains GP by 23.2% during the 1st quarter. Atlantic Trust Group LLC now owns 1,749,974 shares of the pipeline company’s stock worth $38,062,000 after buying an additional 329,763 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Plains GP by 12.1% during the 1st quarter. Legal & General Group Plc now owns 83,762 shares of the pipeline company’s stock worth $1,821,000 after buying an additional 9,051 shares in the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.
Plains GP opened at $23.78 on Friday, Marketbeat.com reports. Plains GP has a 1-year low of $18.98 and a 1-year high of $27.75. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.73. The stock has a market capitalization of $3.72 billion, a PE ratio of 41.60 and a beta of 1.23.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, April 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.05%. Plains GP’s dividend payout ratio (DPR) is currently 184.62%.
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.
Get a free copy of the Zacks research report on Plains GP (PAGP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment