Shares of Phillips 66 Partners LP (NYSE:PSXP) have received an average rating of “Hold” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $57.04.
Several equities analysts have weighed in on the stock. Scotiabank set a $60.00 target price on shares of Phillips 66 Partners and gave the company a “buy” rating in a report on Monday, August 20th. Bank of America dropped their target price on shares of Phillips 66 Partners from $65.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Zacks Investment Research upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Morgan Stanley raised their target price on shares of Phillips 66 Partners from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, August 17th. Finally, ValuEngine upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th.
Several institutional investors have recently added to or reduced their stakes in PSXP. Brookfield Asset Management Inc. boosted its stake in shares of Phillips 66 Partners by 906.0% during the 1st quarter. Brookfield Asset Management Inc. now owns 2,022,987 shares of the oil and gas company’s stock worth $96,658,000 after purchasing an additional 1,821,887 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Phillips 66 Partners by 9.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,655,570 shares of the oil and gas company’s stock worth $544,074,000 after purchasing an additional 920,338 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Phillips 66 Partners during the 2nd quarter worth about $25,095,000. Chickasaw Capital Management LLC boosted its stake in shares of Phillips 66 Partners by 9.4% during the 2nd quarter. Chickasaw Capital Management LLC now owns 3,205,286 shares of the oil and gas company’s stock worth $163,662,000 after purchasing an additional 274,108 shares during the last quarter. Finally, Alps Advisors Inc. boosted its stake in shares of Phillips 66 Partners by 6.4% during the 2nd quarter. Alps Advisors Inc. now owns 4,414,520 shares of the oil and gas company’s stock worth $225,405,000 after purchasing an additional 263,903 shares during the last quarter. 41.94% of the stock is currently owned by institutional investors.
Shares of PSXP traded up $0.07 during trading hours on Wednesday, reaching $52.93. The company had a trading volume of 351 shares, compared to its average volume of 291,863. The company has a quick ratio of 1.19, a current ratio of 1.25 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $6.29 billion, a PE ratio of 20.41, a P/E/G ratio of 1.97 and a beta of 1.39. Phillips 66 Partners has a 12-month low of $44.40 and a 12-month high of $56.48.
Phillips 66 Partners (NYSE:PSXP) last posted its earnings results on Friday, July 27th. The oil and gas company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.05. Phillips 66 Partners had a net margin of 48.17% and a return on equity of 39.53%. The firm had revenue of $354.00 million during the quarter, compared to the consensus estimate of $344.16 million. During the same period last year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 51.3% on a year-over-year basis. On average, research analysts anticipate that Phillips 66 Partners will post 3.76 EPS for the current year.
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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