During the last session, Plains GP Holdings LP (NASDAQ:PAGP)’s traded shares were 2.74 million, with the beta value of the company hitting 1.51. At the end of the trading day, the stock’s price was $19.30, reflecting an intraday gain of 1.58% or $0.3. The 52-week high for the PAGP share is $19.21, that puts it up 0.47 from that peak though still a striking 34.77% gain since the share price plummeted to a 52-week low of $12.59. The company’s market capitalization is $3.80B, and the average intraday trading volume over the past 10 days was 2.4 million shares, and the average trade volume was 2.24 million shares over the past three months.
Plains GP Holdings LP (NASDAQ:PAGP) trade information
Plains GP Holdings LP (PAGP) registered a 1.58% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.58% in intraday trading to $19.30, hitting a weekly high. The stock’s 5-day price performance is 5.75%, and it has moved by 10.86% in 30 days. Based on these gigs, the overall price performance for the year is 43.39%. The short interest in Plains GP Holdings LP (NASDAQ:PAGP) is 10.79 million shares and it means that shorts have 5.64 day(s) to cover.
Plains GP Holdings LP (PAGP) estimates and forecasts
Statistics show that Plains GP Holdings LP has outperformed its competitors in share price, compared to the industry in which it operates. Plains GP Holdings LP (PAGP) shares have gone up 29.62% during the last six months, with a year-to-date growth rate more than the industry average at 54.46% against 4.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -22.90% this quarter and then drop -32.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -4.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $13 billion as predicted by 2 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $12.72 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $12.34 billion and $11.6 billion respectively. In this case, analysts expect current quarter sales to grow by 5.30% and then jump by 9.60% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -3.03%. While earnings are projected to return 33.39% in 2024, the next five years will return 0.00% per annum.
PAGP Dividends
Plains GP Holdings LP is due to release its next quarterly earnings on May 03. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Plains GP Holdings LP is 1.12, with the dividend yield indicating at 5.80 percent, continuing the trend of increasing dividends in recent years.
Plains GP Holdings LP (NASDAQ:PAGP)’s Major holders
Plains GP Holdings LP insiders own 2.62% of total outstanding shares while institutional holders control 85.14%, with the float percentage being 87.43%. Energy Income Partners, LLC is the largest shareholder of the company, while 311 institutions own stock in it. As of Jun 29, 2023, the company held over 13.21 million shares (or 7.03% of all shares), a total value of $195.86 million in shares.
The next largest institutional holding, with 13.0 million shares, is of Tortoise Capital Advisors, LLC’s that is approximately 6.92% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $192.74 million.
Also, the Mutual Funds coming in first place with the largest holdings of Plains GP Holdings LP (PAGP) shares are First Trust North American Energy Infrastructure Fund and Tortoise Energy Infrastructure Total Return Fund. Data provided on Sep 29, 2023 indicates that First Trust North American Energy Infrastructure Fund owns about 10.64 million shares. This amounts to just over 5.67 percent of the company’s overall shares, with a $171.57 million market value. The same data shows that the other fund manager holds slightly less at 8.12 million, or about 4.32% of the stock, which is worth about $130.86 million.
