Plains GP (PAGP) Scheduled to Post Quarterly Earnings on Friday

Plains GP (NYSE:PAGP) will be releasing its earnings data before the market opens on Friday, May 3rd. Analysts expect Plains GP to post earnings of $0.53 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). Plains GP had a return on equity of 1.33% and a net margin of 0.41%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate 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 $17.78 on Thursday. The firm has a market capitalization of $3.51 billion, a P/E ratio of 17.43 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 has a 52 week low of $12.59 and a 52 week high of $19.77. The firm’s 50 day moving average is $18.08 and its two-hundred day moving average is $16.78.

Plains GP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.14%. Plains GP’s dividend payout ratio is presently 124.51%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PAGP shares. StockNews.com upgraded Plains GP from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Barclays lifted their price target on Plains GP from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Scotiabank assumed coverage on shares of Plains GP in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective on the stock. Citigroup increased their target price on shares of Plains GP from $16.50 to $17.50 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Stifel Nicolaus raised their price objective on Plains GP from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock 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.