FY2017 EPS Estimates for Phillips 66 Partners LP (NYSE:PSXP) Lowered by Jefferies Group

Phillips 66 Partners LP (NYSE:PSXP) – Equities research analysts at Jefferies Group lowered their FY2017 EPS estimates for Phillips 66 Partners in a research note issued to investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst C. Goldman now forecasts that the oil and gas company will post earnings per share of $2.40 for the year, down from their previous forecast of $2.60. Jefferies Group has a “Hold” rating and a $51.00 price objective on the stock. Jefferies Group also issued estimates for Phillips 66 Partners’ Q4 2017 earnings at $0.68 EPS, Q2 2018 earnings at $0.40 EPS, FY2018 earnings at $1.69 EPS, FY2019 earnings at $1.51 EPS, FY2020 earnings at $1.52 EPS and FY2021 earnings at $1.45 EPS.

Several other research firms also recently issued reports on PSXP. Goldman Sachs Group raised Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, December 18th. Credit Suisse Group initiated coverage on Phillips 66 Partners in a report on Thursday, January 4th. They set a “neutral” rating and a $52.00 price objective on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $63.00 price objective on shares of Phillips 66 Partners in a report on Tuesday, October 3rd. BidaskClub raised Phillips 66 Partners from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Stifel Nicolaus reduced their price objective on Phillips 66 Partners from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, October 30th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Phillips 66 Partners has an average rating of “Buy” and an average target price of $58.30.

Shares of Phillips 66 Partners (PSXP) traded up $0.69 on Friday, hitting $55.15. The stock had a trading volume of 320,591 shares, compared to its average volume of 333,465. Phillips 66 Partners has a fifty-two week low of $44.40 and a fifty-two week high of $58.00. 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 firm has a market cap of $6,700.00, a P/E ratio of 23.37, a P/E/G ratio of 1.39 and a beta of 1.47.

Phillips 66 Partners (NYSE:PSXP) last announced its earnings results on Friday, October 27th. The oil and gas company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.08). The business had revenue of $245.00 million during the quarter, compared to analyst estimates of $236.18 million. Phillips 66 Partners had a return on equity of 23.56% and a net margin of 42.19%. The firm’s revenue was up 69.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share.

Several institutional investors have recently modified their holdings of PSXP. Alps Advisors Inc. raised its position in shares of Phillips 66 Partners by 17.7% during the 3rd quarter. Alps Advisors Inc. now owns 3,779,089 shares of the oil and gas company’s stock valued at $198,629,000 after acquiring an additional 568,798 shares during the last quarter. RR Advisors LLC bought a new stake in shares of Phillips 66 Partners during the 3rd quarter valued at $23,677,000. JPMorgan Chase & Co. raised its position in shares of Phillips 66 Partners by 33.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 851,747 shares of the oil and gas company’s stock valued at $44,955,000 after acquiring an additional 215,461 shares during the last quarter. ING Groep NV bought a new stake in shares of Phillips 66 Partners during the 3rd quarter valued at $10,880,000. Finally, BP Capital Fund Advisors LLC bought a new stake in shares of Phillips 66 Partners during the 2nd quarter valued at $8,908,000. Institutional investors own 37.17% of the company’s stock.

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