Plains GP (PAGP) Scheduled to Post Quarterly Earnings on Friday

Plains GP (NYSE:PAGPGet Free Report) is set to announce its 12/31/2023 earnings results before the market opens on Friday, February 9th. Analysts expect the company to announce earnings of $0.32 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Plains GP Stock Down 1.0 %

Plains GP stock opened at $15.95 on Wednesday. The company has a market capitalization of $3.13 billion, a P/E ratio of 16.28 and a beta of 1.55. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $16.06 and a 200-day moving average price of $15.93. Plains GP has a twelve month low of $11.79 and a twelve month high of $17.05.

Plains GP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.3175 per share. This is a boost from Plains GP’s previous quarterly dividend of $0.27. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.96%. The ex-dividend date is Tuesday, January 30th. Plains GP’s dividend payout ratio is presently 129.59%.

Analysts Set New Price Targets

Several analysts have issued reports on PAGP shares. Truist Financial increased their target price on shares of Plains GP from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. StockNews.com cut shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.22.

View Our Latest Analysis on Plains GP

Institutional Investors Weigh In On Plains GP

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Plains GP by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 168,128 shares of the pipeline company’s stock valued at $2,091,000 after acquiring an additional 771 shares during the period. California State Teachers Retirement System raised its holdings in Plains GP by 0.5% in the third quarter. California State Teachers Retirement System now owns 171,847 shares of the pipeline company’s stock worth $2,770,000 after buying an additional 781 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Plains GP by 6.1% in the first quarter. D.A. Davidson & CO. now owns 17,598 shares of the pipeline company’s stock worth $203,000 after buying an additional 1,019 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Plains GP by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 220,334 shares of the pipeline company’s stock worth $3,552,000 after buying an additional 1,056 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in Plains GP by 7.0% in the second quarter. Prudential Financial Inc. now owns 17,365 shares of the pipeline company’s stock worth $179,000 after buying an additional 1,137 shares during the last quarter. Institutional investors own 84.45% of the company’s stock.

About Plains GP

(Get Free Report)

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., 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.

See Also

Earnings History for Plains GP (NYSE:PAGP)

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