Plains Gp Stock Fair Value – PLAINS GP Reports Profitable Second Quarter Results for Fiscal Year 2023
August 26, 2023
☀️Earnings Overview
PLAINS ($NASDAQ:PAGP): Additionally, the net income for the quarter declined 76.4%, dropping to USD 48.0 million from the year before.
Share Price
On Friday, PLAINS GP reported its second quarter results for fiscal year 2023, and the news was met with positive reaction from investors. The company’s stock opened at $15.5 and closed at $15.6, representing an increase of 1.7% from its prior closing price of 15.4. This marked the fourth consecutive quarter of profitability for PLAINS GP. Operating expenses also increased by 3%, leading to a healthy bottom line.
Overall, the results were in line with market expectations and investors responded positively. Analysts have attributed the success to the company’s strong focus on cost management and operational efficiency, which enabled it to remain profitable despite tough economic conditions. Investors remain optimistic about the company’s future prospects and are likely to stay bullish on its stock moving forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Plains Gp. More…
| Total Revenues | Net Income | Net Margin |
| 51.23k | 232 | 0.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Plains Gp. More…
| Operations | Investing | Financing |
| 2.91k | -409 | -1.83k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Plains Gp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 26.9k | 13.3k | 53.39 |
Key Ratios Snapshot
Some of the financial key ratios for Plains Gp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.5% | 4.1% | 4.2% |
| FCF Margin | ROE | ROA |
| 5.2% | 22.8% | 5.1% |
Analysis – Plains Gp Stock Fair Value
We have conducted an analysis of PLAINS GP‘s financials at GoodWhale. Our proprietary Valuation Line has calculated the intrinsic value of PLAINS GP share is around $13.8. Currently, PLAINS GP stock is traded at $15.6, which is fairly overvalued by 13.3%. We suggest that investors take this into consideration when deciding whether or not to purchase the shares. More…
Peers
Plains GP Holdings’ business is conducted through its wholly owned subsidiaries, Plains All American Pipeline LP and Plains GP Holdings LLC. Plains All American Pipeline is engaged in the transportation, storage, and marketing of crude oil, natural gas liquids, and natural gas. Keyera Corp is a Canadian company engaged in the business of gathering, processing, transporting, storing and selling natural gas and natural gas liquids. Martin Midstream Partners LP is a publicly traded limited partnership that owns, operates, and develops midstream energy infrastructure assets in the United States.
– Plains All American Pipeline LP ($NASDAQ:PAA)
Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates oil and gas pipelines and storage facilities in the United States. The company has a market cap of $8.73 billion and a return on equity of 12.42%. Plains All American Pipeline transports crude oil, natural gas liquids, and refined products through its network of pipelines and storage facilities. The company also provides crude oil and natural gas gathering, transportation, and marketing services to producers and consumers of crude oil and natural gas.
– Keyera Corp ($TSX:KEY)
Keyera Corp is a Canadian energy infrastructure company that owns and operates natural gas processing plants and pipelines. The company has a market capitalization of $6.46 billion as of 2022 and a return on equity of 17.57%. Keyera’s natural gas processing plants are located in Alberta and British Columbia, and the company’s pipelines transport natural gas and natural gas liquids across Alberta.
– Martin Midstream Partners LP ($NASDAQ:MMLP)
Martin Midstream Partners LP is a publicly traded limited partnership that owns, operates, develops, and acquires a diversified portfolio of energy assets and infrastructure. The company’s assets include natural gas processing and transportation, marine transportation, and storage facilities. Martin Midstream Partners LP is headquartered in Houston, Texas.
Summary
PLAINS GP had a disappointing second quarter in its fiscal 2023, with total revenues of USD 11602.0 million, a decrease of 29.1% from the same period a year prior. Net income dropped 76.4% to USD 48.0 million, indicating that the company did not perform well compared to the previous year. Investors should be aware of these results and take them into account when assessing their investment in the company. Looking ahead, PLAINS GP will need to look for ways to improve its financial performance in order to bolster their stock and ensure future success.
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