Analysts Anticipate Plains GP Holdings, L.P. (NYSE:PAGP) Will Post Earnings of $0.12 Per Share

Analysts expect that Plains GP Holdings, L.P. (NYSE:PAGPGet Rating) will post earnings per share (EPS) of $0.12 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Plains GP’s earnings. The lowest EPS estimate is $0.11 and the highest is $0.13. Plains GP posted earnings per share of ($0.35) during the same quarter last year, which would indicate a positive year-over-year growth rate of 134.3%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Plains GP will report full-year earnings of $0.96 per share for the current year, with EPS estimates ranging from $0.78 to $1.21. For the next financial year, analysts expect that the business will post earnings of $1.17 per share, with EPS estimates ranging from $1.12 to $1.23. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Plains GP.

Several analysts have commented on PAGP shares. Raymond James upped their target price on shares of Plains GP from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. Morgan Stanley boosted their price target on shares of Plains GP from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, April 26th. Credit Suisse Group raised shares of Plains GP from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $13.00 to $14.00 in a report on Thursday, May 12th. Zacks Investment Research lowered shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Finally, StockNews.com downgraded shares of Plains GP from a “buy” rating to a “hold” rating in a research note on Monday, April 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Plains GP presently has a consensus rating of “Hold” and a consensus price target of $13.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its stake in Plains GP by 4.5% in the fourth quarter. SG Americas Securities LLC now owns 56,668 shares of the pipeline company’s stock valued at $575,000 after purchasing an additional 2,444 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Plains GP by 12.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 570,604 shares of the pipeline company’s stock valued at $5,786,000 after buying an additional 64,158 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Plains GP by 225.3% during the third quarter. Two Sigma Advisers LP now owns 2,065,900 shares of the pipeline company’s stock valued at $22,260,000 after buying an additional 1,430,900 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Plains GP by 11.1% during the third quarter. Cetera Investment Advisers now owns 12,244 shares of the pipeline company’s stock valued at $132,000 after buying an additional 1,225 shares during the last quarter. Finally, Tortoise Index Solutions LLC grew its holdings in shares of Plains GP by 5.8% during the fourth quarter. Tortoise Index Solutions LLC now owns 154,914 shares of the pipeline company’s stock valued at $1,571,000 after buying an additional 8,550 shares during the last quarter. 90.45% of the stock is owned by institutional investors and hedge funds.

Shares of Plains GP stock traded down $0.06 on Wednesday, hitting $12.55. 39,414 shares of the company’s stock traded hands, compared to its average volume of 2,438,732. The firm’s 50-day moving average price is $11.71 and its two-hundred day moving average price is $11.27. The stock has a market capitalization of $2.44 billion, a PE ratio of 179.29 and a beta of 1.75. Plains GP has a one year low of $9.24 and a one year high of $12.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.94 and a quick ratio of 0.88.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were paid a dividend of $0.2175 per share. The ex-dividend date was Thursday, April 28th. This represents a $0.87 annualized dividend and a dividend yield of 6.93%. This is an increase from Plains GP’s previous quarterly dividend of $0.18. Plains GP’s dividend payout ratio (DPR) is presently 1,242.86%.

About Plains GP (Get Rating)

Plains GP Holdings, L.P., together with its subsidiaries, owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks.

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

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