Goldman Sachs Group, Inc. (The) upgraded shares of Phillips 66 Partners LP (NYSE:PSXP) from a sell rating to a neutral rating in a research note released on Tuesday, October 17th, Marketbeat.com reports. The brokerage currently has $59.00 price objective on the oil and gas company’s stock.
Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Phillips 66 Partners from a sell rating to a hold rating in a report on Thursday, July 13th. Stifel Nicolaus set a $63.00 target price on shares of Phillips 66 Partners and gave the stock a buy rating in a report on Saturday, June 24th. Jefferies Group LLC restated a hold rating and set a $51.00 price objective on shares of Phillips 66 Partners in a report on Monday, October 16th. Citigroup Inc. dropped their price objective on shares of Phillips 66 Partners from $63.00 to $60.00 and set a buy rating on the stock in a report on Monday, July 17th. Finally, Scotiabank set a $61.00 price objective on shares of Phillips 66 Partners and gave the stock a buy rating in a report on Friday, July 21st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $59.38.
Shares of Phillips 66 Partners (NYSE:PSXP) traded up $0.15 during mid-day trading on Tuesday, reaching $49.92. 72,356 shares of the company’s stock were exchanged, compared to its average volume of 228,346. Phillips 66 Partners has a 1 year low of $43.23 and a 1 year high of $58.00. The company has a market capitalization of $5,499.86, a PE ratio of 21.00, a PEG ratio of 1.58 and a beta of 1.52. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 1.28.
Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). The business had revenue of $245.00 million during the quarter, compared to the consensus estimate of $236.18 million. Phillips 66 Partners had a net margin of 42.19% and a return on equity of 23.56%. Phillips 66 Partners’s revenue was up 69.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. analysts forecast that Phillips 66 Partners will post 2.63 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be given a $0.646 dividend. This represents a $2.58 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Monday, October 30th. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.62. Phillips 66 Partners’s dividend payout ratio (DPR) is 108.86%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA bought a new stake in shares of Phillips 66 Partners during the 1st quarter worth about $159,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Phillips 66 Partners by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock worth $165,000 after buying an additional 234 shares during the period. Signature Financial Management Inc. bought a new stake in shares of Phillips 66 Partners during the 2nd quarter worth about $202,000. Beaumont Financial Partners LLC bought a new stake in shares of Phillips 66 Partners during the 2nd quarter worth about $217,000. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Phillips 66 Partners by 8.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 4,676 shares of the oil and gas company’s stock worth $231,000 after buying an additional 354 shares during the period. 40.30% of the stock is owned by institutional investors.
Phillips 66 Partners Company Profile
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