Plains GP Holdings LP (NYSE:PAGP) – Equities researchers at Jefferies Financial Group upped their Q3 2020 earnings estimates for shares of Plains GP in a research note issued on Thursday, January 16th. Jefferies Financial Group analyst C. Sighinolfi now expects that the pipeline company will post earnings of $0.86 per share for the quarter, up from their previous estimate of $0.85. Jefferies Financial Group also issued estimates for Plains GP’s FY2020 earnings at $3.19 EPS, FY2021 earnings at $3.83 EPS, FY2022 earnings at $4.04 EPS, FY2023 earnings at $4.16 EPS and FY2024 earnings at $4.24 EPS.
Plains GP (NYSE:PAGP) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.06. Plains GP had a return on equity of 3.30% and a net margin of 1.39%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $8.15 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. Plains GP’s revenue was down 10.3% compared to the same quarter last year.
NYSE:PAGP opened at $19.27 on Friday. Plains GP has a 52-week low of $16.99 and a 52-week high of $25.82. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $18.55 and a 200-day simple moving average of $20.82. The company has a market capitalization of $3.50 billion, a PE ratio of 6.76 and a beta of 1.18.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Usca Ria LLC acquired a new position in Plains GP in the 3rd quarter valued at $28,000. Cerebellum GP LLC purchased a new stake in shares of Plains GP in the third quarter valued at $72,000. Tower Research Capital LLC TRC acquired a new position in Plains GP in the third quarter valued at $105,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Plains GP by 236.0% in the second 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. Finally, Lakeview Capital Partners LLC purchased a new position in Plains GP during the third quarter worth about $204,000. Hedge funds and other institutional investors own 86.41% of the company’s stock.
In other news, CEO Willie Cw Chiang acquired 60,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average price of $17.14 per share, with a total value of $1,028,400.00. Following the completion of the transaction, the chief executive officer now directly owns 135,104 shares in the company, valued at approximately $2,315,682.56. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Everardo Goyanes acquired 20,000 shares of Plains GP stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $17.91 per share, for a total transaction of $358,200.00. Following the purchase, the director now directly owns 57,305 shares of the company’s stock, valued at approximately $1,026,332.55. The disclosure for this purchase can be found here. 16.31% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.36 dividend. The ex-dividend date is Thursday, January 30th. This represents a $1.44 annualized dividend and a dividend yield of 7.47%. Plains GP’s dividend payout ratio is currently 68.25%.
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.
Read More: Price to Earnings Ratio (PE) Basics
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