$6.66 Billion in Sales Expected for Plains Group Holdings, L.P. (PAGP) This Quarter

Equities research analysts expect Plains Group Holdings, L.P. (NYSE:PAGP) to announce $6.66 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Plains Group Holdings, L.P.’s earnings. The lowest sales estimate is $6.07 billion and the highest is $7.26 billion. Plains Group Holdings, L.P. reported sales of $5.17 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 28.8%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.

On average, analysts expect that Plains Group Holdings, L.P. will report full-year sales of $6.66 billion for the current financial year, with estimates ranging from $25.82 billion to $28.07 billion. For the next year, analysts expect that the firm will post sales of $29.40 billion per share, with estimates ranging from $27.41 billion to $31.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Plains Group Holdings, L.P..

Plains Group Holdings, L.P. (NYSE:PAGP) last posted its earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.02 billion. Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.69%. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share.

A number of equities analysts recently issued reports on PAGP shares. Mizuho upgraded Plains Group Holdings, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Monday, July 10th. Deutsche Bank AG lowered Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $35.00 to $29.00 in a research note on Thursday, July 13th. Bank of America Corporation started coverage on Plains Group Holdings, L.P. in a research note on Thursday, August 3rd. They issued a “neutral” rating and a $29.00 target price for the company. Stifel Nicolaus reduced their target price on Plains Group Holdings, L.P. from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th. Finally, BidaskClub lowered Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.50.

In other news, EVP Richard K. Mcgee acquired 2,500 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $21.08 per share, for a total transaction of $52,700.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Greg L. Armstrong acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average price of $23.41 per share, for a total transaction of $1,170,500.00. Following the completion of the acquisition, the chairman now owns 650,625 shares in the company, valued at approximately $15,231,131.25. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 122,500 shares of company stock valued at $2,724,700. 39.93% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of PAGP. Penserra Capital Management LLC purchased a new stake in Plains Group Holdings, L.P. during the second quarter valued at about $103,000. The Manufacturers Life Insurance Company boosted its stake in Plains Group Holdings, L.P. by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,166 shares of the pipeline company’s stock valued at $109,000 after buying an additional 428 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in Plains Group Holdings, L.P. by 1.7% in the first quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the pipeline company’s stock valued at $195,000 after buying an additional 103 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Plains Group Holdings, L.P. during the first quarter valued at about $211,000. Finally, Segment Wealth Management LLC boosted its stake in Plains Group Holdings, L.P. by 19.5% in the first quarter. Segment Wealth Management LLC now owns 7,357 shares of the pipeline company’s stock valued at $230,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Plains Group Holdings, L.P. (NYSE PAGP) traded up 0.05% on Friday, reaching $19.78. 1,839,269 shares of the company’s stock were exchanged. The firm’s market capitalization is $3.04 billion. Plains Group Holdings, L.P. has a 12 month low of $19.60 and a 12 month high of $36.59. The firm has a 50-day moving average of $25.15 and a 200-day moving average of $28.53.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a $0.55 dividend. The ex-dividend date was Thursday, July 27th. This represents a $2.20 annualized dividend and a dividend yield of 11.12%. Plains Group Holdings, L.P.’s dividend payout ratio is presently 333.50%.

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Plains Group Holdings, L.P. Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

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