Brokerages forecast that Phillips 66 Partners LP (NYSE:PSXP) will report $1.00 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Phillips 66 Partners’ earnings, with estimates ranging from $0.97 to $1.03. Phillips 66 Partners posted earnings per share of $1.09 in the same quarter last year, which would suggest a negative year over year growth rate of 8.3%. The business is expected to report its next earnings report on Friday, February 14th.
According to Zacks, analysts expect that Phillips 66 Partners will report full-year earnings of $4.54 per share for the current year, with EPS estimates ranging from $4.33 to $4.88. For the next year, analysts expect that the company will report earnings of $4.23 per share, with EPS estimates ranging from $3.98 to $4.50. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Phillips 66 Partners.
Several equities analysts have commented on the company. Barclays set a $58.00 price objective on Phillips 66 Partners and gave the company a “hold” rating in a research report on Friday, October 25th. Bank of America increased their price target on Phillips 66 Partners from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Mizuho increased their price target on Phillips 66 Partners from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Zacks Investment Research raised Phillips 66 Partners from a “strong sell” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, October 30th. Finally, Raymond James increased their price target on Phillips 66 Partners from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Phillips 66 Partners has a consensus rating of “Buy” and an average price target of $59.44.
Institutional investors have recently bought and sold shares of the company. Atria Investments LLC bought a new stake in Phillips 66 Partners in the second quarter valued at about $961,000. Lindbrook Capital LLC lifted its stake in shares of Phillips 66 Partners by 47.6% during the 2nd quarter. Lindbrook Capital LLC now owns 1,240 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 400 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in Phillips 66 Partners in the second quarter valued at about $2,661,000. Dividend Assets Capital LLC raised its stake in Phillips 66 Partners by 6.0% in the second quarter. Dividend Assets Capital LLC now owns 184,321 shares of the oil and gas company’s stock valued at $9,096,000 after buying an additional 10,397 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Phillips 66 Partners by 8.7% in the second quarter. Russell Investments Group Ltd. now owns 306,162 shares of the oil and gas company’s stock valued at $15,106,000 after buying an additional 24,472 shares during the last quarter. 42.68% of the stock is owned by institutional investors and hedge funds.
Phillips 66 Partners stock traded up $0.21 on Thursday, hitting $54.57. 295,334 shares of the stock traded hands, compared to its average volume of 376,119. The company has a current ratio of 1.51, a quick ratio of 1.49 and a debt-to-equity ratio of 1.91. The firm has a market cap of $12.41 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 3.05 and a beta of 0.89. The business’s fifty day simple moving average is $55.95 and its 200 day simple moving average is $52.58. Phillips 66 Partners has a 1 year low of $40.76 and a 1 year high of $59.75.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Thursday, October 31st will be given a dividend of $0.865 per share. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.86. The ex-dividend date is Wednesday, October 30th. This represents a $3.46 dividend on an annualized basis and a yield of 6.34%. Phillips 66 Partners’s dividend payout ratio (DPR) is presently 86.50%.
About Phillips 66 Partners
Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) pipelines, terminals, and other transportation and midstream assets. The company operates pipeline assets in Lake Charles, Sweeny, Wood River, Borger/Ponca City, Billings, and Borger; terminal, rail rack, and storage assets in Louisiana, Texas, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.
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