HOUSTON (AP) _ Plains GP Holdings LP (PAGP) on Tuesday reported fourth-quarter earnings of $48 million.
The Houston-based company said it had profit of 26 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The oil and gas holding company posted revenue of $9.15 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $8.45 billion.
For the year, the company reported profit of $331 million, or $1.96 per share. Revenue was reported as $33.67 billion.
Plains GP shares have decreased 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.85, a drop of 27% in the last 12 months.