Plains GP Holdings LP (PAGP) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $0.16. The company posted revenue of $4950.00 million in the period, compared to analysts expectations of $4788.80 million. The company’s revenue was down -25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on Plains GP Holdings LP. Company shares were Upgraded by Robert W. Baird on Jul 13, 2016 to ” Neutral”, Firm has raised the Price Target to $ 12 from a previous price target of $5 .Company shares were Downgraded by Barclays on Jul 8, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 11 from a previous price target of $8 .Plains GP Holdings LP was Initiated by SunTrust to “Neutral” on Jun 15, 2016.
Plains GP Holdings LP opened for trading at $10.3 and hit $10.66 on the upside on Friday, eventually ending the session at $10.62, with a gain of 2.02% or 0.21 points. The heightened volatility saw the trading volume jump to 22,32,857 shares. Company has a market cap of $6,627 M.
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.