Phillips 66 Partners LP (NYSE:PSXP) – Investment analysts at Jefferies Financial Group lowered their Q1 2019 earnings per share (EPS) estimates for shares of Phillips 66 Partners in a research report issued on Monday, April 15th. Jefferies Financial Group analyst C. Sighinolfi now anticipates that the oil and gas company will earn $1.02 per share for the quarter, down from their previous forecast of $1.03. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for Phillips 66 Partners’ FY2023 earnings at $5.14 EPS.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, February 8th. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.01). The company had revenue of $393.00 million during the quarter, compared to analyst estimates of $375.17 million. Phillips 66 Partners had a net margin of 53.57% and a return on equity of 48.73%. The business’s revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Phillips 66 Partners from a “hold” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a research report on Tuesday. ValuEngine upgraded Phillips 66 Partners from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Credit Suisse Group dropped their price target on Phillips 66 Partners from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, February 11th. Bank of America restated a “neutral” rating and issued a $53.00 price target (up previously from $46.00) on shares of Phillips 66 Partners in a research report on Thursday, February 7th. Finally, Stifel Nicolaus cut Phillips 66 Partners from a “buy” rating to a “hold” rating and boosted their price target for the company from $50.00 to $52.00 in a research report on Monday, February 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $56.73.
Shares of PSXP stock opened at $50.39 on Wednesday. The stock has a market capitalization of $6.30 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.64 and a beta of 1.23. Phillips 66 Partners has a 52-week low of $40.76 and a 52-week high of $55.02. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.43 and a current ratio of 0.48.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSXP. Ffcm LLC increased its position in Phillips 66 Partners by 50.0% during the 4th quarter. Ffcm LLC now owns 675 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 225 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new position in Phillips 66 Partners during the 4th quarter worth approximately $29,000. Lindbrook Capital LLC acquired a new position in Phillips 66 Partners during the 4th quarter worth approximately $34,000. Arlington Partners LLC acquired a new position in Phillips 66 Partners during the 4th quarter worth approximately $113,000. Finally, Advisor Group Inc. boosted its stake in shares of Phillips 66 Partners by 25.1% during the 4th quarter. Advisor Group Inc. now owns 6,035 shares of the oil and gas company’s stock worth $252,000 after acquiring an additional 1,210 shares in the last quarter. Institutional investors own 42.79% of the company’s stock.
About Phillips 66 Partners
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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