Analysts predict that Plains Group Holdings, L.P. (NYSE:PAGP) will announce $0.24 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Plains Group Holdings, L.P.’s earnings, with estimates ranging from ($0.11) to $0.48. Plains Group Holdings, L.P. posted earnings per share of $0.40 in the same quarter last year, which would indicate a negative year-over-year growth rate of 40%. The firm is expected to announce its next earnings report after the market closes on Monday, August 7th.

On average, analysts expect that Plains Group Holdings, L.P. will report full year earnings of $1.93 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $2.95. For the next financial year, analysts forecast that the business will report earnings of $2.31 per share, with EPS estimates ranging from $1.32 to $3.60. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Plains Group Holdings, L.P..

Plains Group Holdings, L.P. (NYSE:PAGP) last issued its quarterly earnings results on Monday, May 8th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.11. The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $5.21 billion. Plains Group Holdings, L.P. had a return on equity of 0.90% and a net margin of 0.44%. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 EPS.

Several equities analysts have issued reports on the company. Barclays PLC reiterated an “equal weight” rating and set a $32.00 target price on shares of Plains Group Holdings, L.P. in a research report on Thursday, March 30th. Zacks Investment Research upgraded Plains Group Holdings, L.P. from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, April 12th. Wolfe Research reiterated a “market perform” rating on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Macquarie reiterated an “outperform” rating and set a $37.00 target price on shares of Plains Group Holdings, L.P. in a research report on Friday, April 21st. Finally, Jefferies Group LLC cut Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and boosted their target price for the stock from $12.00 to $27.00 in a research report on Friday, April 21st. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.56.

Shares of Plains Group Holdings, L.P. (NYSE:PAGP) traded up 1.45% during trading on Wednesday, reaching $26.51. The company’s stock had a trading volume of 960,001 shares. The firm has a market capitalization of $4.04 billion, a P/E ratio of 63.57 and a beta of 1.47. The company has a 50 day moving average price of $26.25 and a 200 day moving average price of $30.67. Plains Group Holdings, L.P. has a 52 week low of $23.33 and a 52 week high of $36.59.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 8.30%. The ex-dividend date of this dividend is Thursday, July 27th. Plains Group Holdings, L.P.’s payout ratio is currently 244.68%.

In related news, Chairman Greg L. Armstrong bought 100,000 shares of Plains Group Holdings, L.P. stock in a transaction that occurred on Wednesday, May 10th. The shares were purchased at an average price of $27.64 per share, with a total value of $2,764,000.00. Following the purchase, the chairman now owns 525,625 shares in the company, valued at $14,528,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Greg L. Armstrong bought 50,000 shares of Plains Group Holdings, L.P. stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average cost of $23.41 per share, for a total transaction of $1,170,500.00. Following the purchase, 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. 39.93% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC raised 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 worth $195,000 after buying an additional 103 shares during the last quarter. Hartford Financial Management Inc. raised its stake in Plains Group Holdings, L.P. by 1.2% in the first quarter. Hartford Financial Management Inc. now owns 10,726 shares of the pipeline company’s stock worth $334,000 after buying an additional 125 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Plains Group Holdings, L.P. by 2.2% in the first quarter. Envestnet Asset Management Inc. now owns 9,648 shares of the pipeline company’s stock worth $302,000 after buying an additional 210 shares during the last quarter. Endurance Wealth Management Inc. raised its stake in Plains Group Holdings, L.P. by 1.1% in the first quarter. Endurance Wealth Management Inc. now owns 19,924 shares of the pipeline company’s stock worth $623,000 after buying an additional 217 shares during the last quarter. Finally, Arete Wealth Advisors LLC raised its stake in Plains Group Holdings, L.P. by 1.7% in the first quarter. Arete Wealth Advisors LLC now owns 19,054 shares of the pipeline company’s stock worth $596,000 after buying an additional 319 shares during the last quarter. 83.76% of the stock is currently owned by hedge funds and other institutional investors.

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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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