Phillips 66 Partners LP (PSXP) Receives Consensus Recommendation of “Buy” from Analysts

Phillips 66 Partners LP (NYSE:PSXP) has been assigned a consensus rating of “Buy” from the eleven research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $58.89.

A number of analysts have issued reports on the company. Morgan Stanley cut their target price on Phillips 66 Partners from $56.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 17th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a research note on Tuesday, November 7th. BidaskClub raised Phillips 66 Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Barclays cut their target price on Phillips 66 Partners from $62.00 to $59.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Finally, Stifel Nicolaus cut their target price on Phillips 66 Partners from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, October 30th.

Shares of Phillips 66 Partners (NYSE PSXP) traded up $0.73 during mid-day trading on Thursday, reaching $46.74. The company’s stock had a trading volume of 134,437 shares, compared to its average volume of 288,465. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 1.28. The stock has a market cap of $5,763.73, a price-to-earnings ratio of 20.00, a P/E/G ratio of 1.51 and a beta of 1.46. Phillips 66 Partners has a 12 month low of $44.18 and a 12 month high of $58.00.

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 for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). The firm had revenue of $245.00 million during the quarter, compared to analysts’ expectations of $236.18 million. Phillips 66 Partners had a net margin of 42.19% and a return on equity of 23.56%. The company’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. equities research analysts predict that Phillips 66 Partners will post 2.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were paid a $0.646 dividend. The ex-dividend date of this dividend was Monday, October 30th. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.62. This represents a $2.58 dividend on an annualized basis and a dividend yield of 5.53%. Phillips 66 Partners’s dividend payout ratio (DPR) is 108.86%.

Institutional investors and hedge funds have recently modified their holdings of the business. CNH Partners LLC increased its position in shares of Phillips 66 Partners by 2.4% during the 2nd quarter. CNH Partners LLC now owns 8,445 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company increased its position 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 purchasing an additional 234 shares during the last quarter. Keybank National Association OH increased its position in shares of Phillips 66 Partners by 5.9% during the 2nd quarter. Keybank National Association OH now owns 5,105 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 285 shares during the last quarter. ELCO Management Co. LLC increased its position in shares of Phillips 66 Partners by 5.1% during the 2nd quarter. ELCO Management Co. LLC now owns 6,235 shares of the oil and gas company’s stock worth $308,000 after purchasing an additional 305 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position 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 purchasing an additional 354 shares during the last quarter. 37.22% of the stock is owned by institutional investors and hedge funds.

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Phillips 66 Partners Company Profile

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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