Analysts forecast that Phillips 66 Partners LP (NYSE:PSXP) will announce earnings of $0.90 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Phillips 66 Partners’ earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $0.75. Phillips 66 Partners posted earnings of $0.51 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 76.5%. The business is scheduled to issue its next earnings results on Friday, October 26th.
On average, analysts expect that Phillips 66 Partners will report full-year earnings of $3.61 per share for the current financial year, with EPS estimates ranging from $3.23 to $3.83. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.57 per share, with EPS estimates ranging from $2.98 to $4.09. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Phillips 66 Partners.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Friday, July 27th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.05. The firm had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $344.16 million. Phillips 66 Partners had a net margin of 48.17% and a return on equity of 39.53%. The business’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share.
A number of research analysts recently issued reports on PSXP shares. Barclays decreased their price objective on shares of Phillips 66 Partners from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, April 17th. Bank of America upgraded shares of Phillips 66 Partners from a “neutral” rating to a “buy” rating in a report on Tuesday, May 1st. Deutsche Bank started coverage on shares of Phillips 66 Partners in a report on Thursday, April 19th. They set a “hold” rating and a $55.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Phillips 66 Partners from $62.00 to $57.00 and set a “buy” rating for the company in a report on Monday, April 30th. Finally, ValuEngine upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Phillips 66 Partners presently has a consensus rating of “Buy” and an average price target of $57.04.
Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in shares of Phillips 66 Partners by 42.8% in the second quarter. FMR LLC now owns 126,700 shares of the oil and gas company’s stock worth $6,469,000 after purchasing an additional 38,000 shares in the last quarter. GAM Holding AG bought a new stake in shares of Phillips 66 Partners in the second quarter worth $242,000. CIBC Asset Management Inc bought a new stake in shares of Phillips 66 Partners in the second quarter worth $220,000. Cadence Capital Management LLC raised its position in Phillips 66 Partners by 39.8% during the second quarter. Cadence Capital Management LLC now owns 265,323 shares of the oil and gas company’s stock worth $13,547,000 after acquiring an additional 75,478 shares in the last quarter. Finally, Keybank National Association OH raised its position in Phillips 66 Partners by 12.2% during the second quarter. Keybank National Association OH now owns 9,276 shares of the oil and gas company’s stock worth $474,000 after acquiring an additional 1,006 shares in the last quarter. 38.06% of the stock is currently owned by hedge funds and other institutional investors.
NYSE PSXP traded down $0.53 during trading on Friday, reaching $53.72. 1,778,215 shares of the stock traded hands, compared to its average volume of 321,543. The stock has a market cap of $6.67 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.18 and a beta of 1.41. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.19 and a current ratio of 1.25. Phillips 66 Partners has a fifty-two week low of $44.40 and a fifty-two week high of $56.48.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 13th. Shareholders of record on Tuesday, July 31st will be paid a $0.752 dividend. The ex-dividend date is Monday, July 30th. This represents a $3.01 dividend on an annualized basis and a yield of 5.60%. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.71. Phillips 66 Partners’s payout ratio is presently 116.22%.
Phillips 66 Partners Company Profile
Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids 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, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana.
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