Plains GP (PAGP) Set to Announce Earnings on Friday

Plains GP (NYSE:PAGP) is set to post its quarterly earnings results before the market opens on Friday, May 3rd. Analysts expect Plains GP to post earnings of $0.53 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Plains GP (NYSE:PAGP) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a net margin of 0.41% and a return on equity of 1.33%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.88 billion. On average, analysts expect Plains GP to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Plains GP Price Performance

Shares of NYSE PAGP opened at $18.21 on Wednesday. The firm’s 50-day moving average price is $18.07 and its 200-day moving average price is $16.77. Plains GP has a 1-year low of $12.59 and a 1-year high of $19.77. The firm has a market capitalization of $3.59 billion, a P/E ratio of 17.85 and a beta of 1.55. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 6.97%. Plains GP’s dividend payout ratio is currently 124.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup upped their target price on shares of Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. Barclays upped their target price on shares of Plains GP from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Scotiabank initiated coverage on shares of Plains GP in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price on the stock. Finally, UBS Group upped their target price on shares of Plains GP from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Plains GP presently has an average rating of “Moderate Buy” and an average target price of $19.55.

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.