Plains GP (PAGP) Set to Announce Quarterly Earnings on Friday

Plains GP (NYSE:PAGP) is scheduled to be posting its quarterly earnings results before the market opens on Friday, November 8th. Analysts expect Plains GP to post earnings of $0.38 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Plains GP (NYSE:PAGP) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.11). Plains GP had a net margin of 0.33% and a return on equity of 1.09%. The business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same period last year, the firm earned $0.25 EPS. On average, analysts expect Plains GP to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Plains GP Trading Down 0.8 %

Shares of PAGP stock opened at $17.20 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 1.00. The firm has a fifty day moving average of $18.61 and a 200-day moving average of $18.60. Plains GP has a 52-week low of $14.93 and a 52-week high of $20.10. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 20.72 and a beta of 1.53.

Plains GP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date is Thursday, October 31st. Plains GP’s dividend payout ratio is 153.01%.

Wall Street Analyst Weigh In

PAGP has been the topic of several analyst reports. Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Wolfe Research upgraded Plains GP to a “hold” rating in a research note on Wednesday, September 18th. Finally, StockNews.com upgraded shares of Plains GP from a “hold” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

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.