According to Zacks, “Plains GP Holdings, L.P. operates as a holding company. The Company, through its subsidiaries, is involved in the transportation, storage, terminalling, and marketing of crude oil and refined products. It also focuses on the processing, transportation, fractionation, storage, and marketing of natural gas liquids, including ethane and natural gasoline products, as well as propane and butane products. Plains GP Holdings, L.P. is based in Houston, Texas. “
Other equities analysts have also recently issued reports about the company. ValuEngine cut Plains GP from a sell rating to a strong sell rating in a report on Wednesday, July 31st. Wolfe Research upgraded Plains GP from a peer perform rating to an outperform rating in a report on Thursday, June 13th. Finally, TheStreet cut Plains GP from a b- rating to a c+ rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $27.75.
Plains GP (NYSE:PAGP) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Plains GP had a return on equity of 3.71% and a net margin of 1.47%. The company had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $7.87 billion. During the same period last year, the business earned $0.05 EPS. Plains GP’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts expect that Plains GP will post 2.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 6.72%. The ex-dividend date was Tuesday, July 30th. Plains GP’s dividend payout ratio (DPR) is presently 68.25%.
In other Plains GP news, insider Emg Investment, Llc sold 7,328,291 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total transaction of $169,283,522.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 16.31% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in PAGP. Manchester Capital Management LLC purchased a new stake in shares of Plains GP during the 2nd quarter valued at $38,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Plains GP during the 2nd quarter valued at $42,000. Squar Milner Financial Services LLC purchased a new stake in shares of Plains GP during the 1st quarter valued at $85,000. Advisor Group Inc. increased its position in shares of Plains GP by 107.1% during the 2nd quarter. Advisor Group Inc. now owns 4,738 shares of the pipeline company’s stock valued at $118,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Plains GP by 236.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,741 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 3,330 shares during the last quarter. 86.93% of the stock is owned by hedge funds and other institutional investors.
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.
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