Plains GP (NYSE:PAGP) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Plains GP (NYSE:PAGP) issued its quarterly earnings results on Friday. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11), Zacks reports. The company had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. Plains GP had a net margin of 0.35% and a return on equity of 1.15%. During the same quarter last year, the firm posted $0.25 earnings per share.

Plains GP Trading Down 3.1 %

NYSE PAGP traded down $0.59 on Friday, reaching $18.40. The company had a trading volume of 1,759,358 shares, compared to its average volume of 1,396,834. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 20.91 and a beta of 1.54. Plains GP has a fifty-two week low of $14.71 and a fifty-two week high of $20.10. The business has a 50 day moving average of $18.71 and a two-hundred day moving average of $18.03. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.88.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a yield of 6.90%. Plains GP’s payout ratio is 144.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup boosted their price target on Plains GP from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. The Goldman Sachs Group boosted their price target on Plains GP from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. UBS Group boosted their price target on Plains GP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Stifel Nicolaus upped their target price on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Scotiabank initiated coverage on Plains GP in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.11.

Plains GP Company Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.