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

Plains GP (NYSE:PAGP) posted 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 return on equity of 1.15% and a net margin of 0.35%. During the same quarter in the prior year, the business earned $0.25 earnings per share.

Plains GP Stock Performance

Shares of Plains GP stock opened at $18.40 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.88. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 20.91 and a beta of 1.54. The stock’s 50-day moving average is $18.71 and its 200-day moving average is $18.04. Plains GP has a one year low of $14.71 and a one year high of $20.10.

Plains GP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date is Wednesday, July 31st. Plains GP’s dividend payout ratio (DPR) is presently 144.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PAGP shares. Stifel Nicolaus raised their target price on Plains GP from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Scotiabank initiated coverage on shares of Plains GP in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective for the company. Morgan Stanley increased their target price on shares of Plains GP from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Barclays lifted their price target on shares of Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group raised their price objective on Plains GP from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.11.

About Plains GP

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.