Plains GP Holdings LP (PAGP) Releases Earnings Results, Misses Expectations By $-0.10 EPS

Plains GP Holdings LP (PAGP) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $0.07 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $0.17. The company posted revenue of $4111.00 million in the period, compared to analysts expectations of $6507.92 million. The company’s revenue was down -30.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on Plains GP Holdings LP. Plains GP Holdings LP was Downgraded by Credit Suisse to ” Neutral” on Feb 10, 2016. Plains GP Holdings LP was Downgraded by BofA/Merrill to ” Neutral” on Feb 9, 2016. Shares were Downgraded by Robert W. Baird on Feb 8, 2016 to ” Underperform” and Lowered the Price Target to $ 6 from a previous price target of $10 .

Plains GP Holdings LP closed down -0.63 points or -6.36% at $9.27 with 41,01,414 shares getting traded on Monday. Post opening the session at $9.82, the shares hit an intraday low of $8.92 and an intraday high of $9.85 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Feb 10, 2016, Greg L Armstrong (CEO) purchased 1,000,000 shares at $5.86 per share price. According to the SEC, on Feb 10, 2016, Harry N Pefanis (COO) purchased 20,000 shares at $5.75 per share price. On Dec 23, 2015, John T Raymond (director) purchased 423,954 shares at $7.40 per share price, according to the Form-4 filing with the securities and exchange commission.

Plains GP Holdings L.P. (PAGP) owns an interest in the general partner and incentive distribution rights of Plains All American Pipeline L.P (PAA). The Company has no separate operating activities apart from those conducted by PAA. PAA owns and operates midstream energy infrastructure and provides logistics services for crude oil natural gas liquids (NGL) natural gas and refined products. PAA’s operational segments include Transportation Facilities and Supply and Logistics. The transportation segment operations consist of fee-based activities associated with transporting crude oil and NGL on pipelines gathering systems trucks and barges. The facilities segment operations consist of fee-based activities associated with providing storage terminalling and throughput services for crude oil refined products NGL and natural gas. The supply and logistics segment operations consist of merchant-related activities.

Plains GP Holdings LP

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