PAA Natural Gas Storage (NYSE: PNG) is expected to report Q2 earnings on Aug. 5. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict PAA Natural Gas Storage's revenues will grow 3.0% and EPS will decrease -24.0%.

The average estimate for revenue is $103.2 million. On the bottom line, the average EPS estimate is $0.19.

Revenue details
 Last quarter, PAA Natural Gas Storage booked revenue of $128.9 million. GAAP reported sales were 19% higher than the prior-year quarter's $108.7 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.26. GAAP EPS of $0.24 for Q1 were 9.1% higher than the prior-year quarter's $0.22 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Recent performance
 For the preceding quarter, gross margin was 27.9%, 160 basis points worse than the prior-year quarter. Operating margin was 16.0%, 50 basis points worse than the prior-year quarter. Net margin was 13.9%, 80 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $430.7 million. The average EPS estimate is $0.91.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 64 members out of 64 rating the stock outperform, and members rating it underperform. Among 15 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 15 give PAA Natural Gas Storage a green thumbs-up, and give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PAA Natural Gas Storage is hold, with an average price target of $20.19.

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