Plains GP Holdings L.P. (NASDAQ: PAGP) stock fell -0.21% on Thursday to $14.16 against a previous-day closing price of $14.19. With 1.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.76 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $14.17 whereas the lowest price it dropped to was $13.95. The 52-week range on PAGP shows that it touched its highest point at $14.28 and its lowest point at $9.39 during that stretch. It currently has a 1-year price target of $16.19. With its current market cap of 2.75 billion, PAGP has annualized dividend of $1.07 while the current yield stands at 7.56%. Beta for the stock currently stands at 1.58.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PAGP was up-trending over the past week, with a rise of 0.85%, but this was up by 5.04% over a month. Three-month performance surged to 3.36% while six-month performance rose 8.42%. The stock gained 24.98% in the past year, while it has gained 13.83% so far this year. A look at the trailing 12-month EPS for PAGP yields 1.11 with Next year EPS estimates of 1.87. For the next quarter, that number is 0.36. This implies an EPS growth rate of 180.00% for this year and 28.34% for next year.
Float and Shares Shorts:
At present, 194.00 million PAGP shares are outstanding with a float of 189.29 million shares on hand for trading. On Apr 27, 2023, short shares totaled 7.08 million, which was 3.64% higher than short shares on Mar 30, 2023. In addition to Mr. Wilfred C.W. Chiang as the firm’s Chairman & CEO of PAA GP Holdings LLC, Mr. Harry N. Pefanis serves as its Pres & Director of PAA GP Holdings LLC.
Through their ownership of 89.80% of PAGP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.89% of PAGP, in contrast to 52.24% held by mutual funds. Shares owned by individuals account for 33.69%. As the largest shareholder in PAGP with 6.89% of the stake, Energy Income Partners LLC holds 13,401,439 shares worth 13,401,439. A second-largest stockholder of PAGP, Massachusetts Financial Services, holds 12,839,327 shares, controlling over 6.60% of the firm’s shares. Tortoise Capital Advisors LLC is the third largest shareholder in PAGP, holding 12,256,155 shares or 6.30% stake. With a 5.22% stake in PAGP, the First Trust North American Energy is the largest stakeholder. A total of 10,152,483 shares are owned by the mutual fund manager. The Tortoise Energy Infrastructure To, which owns about 4.30% of PAGP stock, is the second-largest Mutual Fund holder. It holds 8,355,582 shares valued at 111.96 million. MFS Mid Cap Value Fund holds 3.52% of the stake in PAGP, owning 6,841,686 shares worth 91.68 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PAGP reported revenue of $16.36B and operating income of $408.00M. The EBITDA in the recently reported quarter was $394.00M and diluted EPS was $0.16.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PAGP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PAGP analysts setting a high price target of $21.00 and a low target of $14.00, the average target price over the next 12 months is $16.35. Based on these targets, PAGP could surge 48.31% to reach the target high and fall by -1.13% to reach the target low. Reaching the average price target will result in a growth of 15.47% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, PAGP has a current ratio of $1.07, which is $1.07 over the trailing 12-months, while a dividend of $1.02 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and PAGP currently yields $6.85. In the past year, PAGP’s dividend yield has been $6.85, but when looking at the stock over the past five years, its yield has been $7.96. Accordingly, PAGP has a current buyback yield of $1.78. This was $1.78 for the TTM.
Summary of Insider Activity:
Insiders traded PAGP stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 45,715 while 0 shares were sold.