Shares of Phillips 66 Partners LP (NYSE:PSXP) have been assigned an average rating of “Buy” from the twelve analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $58.30.
Several analysts recently weighed in on PSXP shares. Royal Bank of Canada restated a “buy” rating and issued a $63.00 price objective on shares of Phillips 66 Partners in a report on Tuesday, October 3rd. Mizuho set a $59.00 price objective on Phillips 66 Partners and gave the stock a “buy” rating in a research report on Sunday, October 29th. Scotiabank restated a “buy” rating and issued a $61.00 price objective on shares of Phillips 66 Partners in a research report on Wednesday, October 25th. BidaskClub raised Phillips 66 Partners from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Finally, Morgan Stanley reduced 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.
Several hedge funds have recently made changes to their positions in the company. Atlantic Trust Group LLC raised its stake in shares of Phillips 66 Partners by 71.0% during the 3rd quarter. Atlantic Trust Group LLC now owns 149,940 shares of the oil and gas company’s stock worth $7,882,000 after buying an additional 62,279 shares during the period. Institutional & Family Asset Management LLC acquired a new position in Phillips 66 Partners in the 3rd quarter valued at $2,399,000. California Public Employees Retirement System raised its stake in Phillips 66 Partners by 2.9% in the 3rd quarter. California Public Employees Retirement System now owns 86,116 shares of the oil and gas company’s stock valued at $4,526,000 after purchasing an additional 2,416 shares during the last quarter. Caxton Associates LP acquired a new position in Phillips 66 Partners in the 3rd quarter valued at $2,093,000. Finally, Cohen & Steers Inc. raised its stake in Phillips 66 Partners by 123,437.5% in the 3rd quarter. Cohen & Steers Inc. now owns 98,830 shares of the oil and gas company’s stock valued at $5,195,000 after purchasing an additional 98,750 shares during the last quarter. 37.17% of the stock is owned by institutional investors and hedge funds.
Phillips 66 Partners (NYSE PSXP) traded down $0.64 during mid-day trading on Monday, hitting $53.20. The company had a trading volume of 366,260 shares, compared to its average volume of 313,674. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.64 and a quick ratio of 0.56. The company has a market capitalization of $6,545.44, a P/E ratio of 22.72, a P/E/G ratio of 1.39 and a beta of 1.46. Phillips 66 Partners has a 12-month low of $44.40 and a 12-month high of $58.00.
Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.08). The firm 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%. The business’s revenue was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. analysts predict that Phillips 66 Partners will post 2.58 EPS for the current year.
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About Phillips 66 Partners
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