Shares of Phillips 66 Partners LP (NYSE:PSXP) have earned an average recommendation of “Hold” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $58.56.
A number of brokerages have recently commented on PSXP. Barclays lowered shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $59.00 price objective on the stock. in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of Phillips 66 Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Morgan Stanley lowered shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 11th. They noted that the move was a valuation call. Bank of America began coverage on shares of Phillips 66 Partners in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Finally, Credit Suisse Group began coverage on shares of Phillips 66 Partners in a research report on Thursday, January 4th. They issued a “neutral” rating and a $52.00 price objective on the stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. raised its position in Phillips 66 Partners by 2.4% during the fourth quarter. Alps Advisors Inc. now owns 3,868,700 shares of the oil and gas company’s stock worth $202,526,000 after acquiring an additional 89,611 shares in the last quarter. First Reserve GP XIII Ltd bought a new stake in Phillips 66 Partners during the fourth quarter worth $165,013,000. Kayne Anderson Capital Advisors LP raised its position in Phillips 66 Partners by 7.8% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,444,471 shares of the oil and gas company’s stock worth $127,954,000 after acquiring an additional 176,610 shares in the last quarter. American International Group Inc. bought a new stake in Phillips 66 Partners during the fourth quarter worth $2,117,000. Finally, Center Coast Capital Advisors LP raised its position in Phillips 66 Partners by 16.9% during the fourth quarter. Center Coast Capital Advisors LP now owns 1,570,473 shares of the oil and gas company’s stock worth $82,214,000 after acquiring an additional 226,624 shares in the last quarter. 37.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Phillips 66 Partners (NYSE:PSXP) traded up $0.31 on Tuesday, reaching $50.56. 445,198 shares of the company’s stock were exchanged, compared to its average volume of 297,892. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.56 and a current ratio of 0.64. Phillips 66 Partners has a 1 year low of $44.40 and a 1 year high of $57.61. The company has a market capitalization of $6,150.00, a price-to-earnings ratio of 19.83, a P/E/G ratio of 1.77 and a beta of 1.39.
Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.04). The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $316.00 million. Phillips 66 Partners had a return on equity of 26.73% and a net margin of 44.16%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. research analysts forecast that Phillips 66 Partners will post 3.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.678 per share. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.65. This represents a $2.71 annualized dividend and a yield of 5.36%. The ex-dividend date was Tuesday, January 30th. Phillips 66 Partners’s dividend payout ratio is 106.27%.
About Phillips 66 Partners
Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.
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