Phillips 66 Partners (NYSE:PSXP) will announce its earnings results before the market opens on Friday, April 27th. Analysts expect the company to announce earnings of $0.82 per share for the quarter.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.04). The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $316.00 million. Phillips 66 Partners had a return on equity of 27.99% and a net margin of 44.16%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, analysts expect Phillips 66 Partners to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of NYSE:PSXP opened at $51.00 on Friday. The firm has a market capitalization of $6,324.17, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.80 and a beta of 1.40. Phillips 66 Partners has a 1 year low of $44.40 and a 1 year high of $56.48. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.71 and a quick ratio of 1.64.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 14th. Shareholders of record on Monday, April 30th will be issued a dividend of $0.714 per share. This represents a $2.86 dividend on an annualized basis and a yield of 5.60%. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, April 27th. Phillips 66 Partners’s dividend payout ratio is 104.63%.
An institutional investor recently raised its position in Phillips 66 Partners stock. The Manufacturers Life Insurance Company lifted its stake in Phillips 66 Partners LP (NYSE:PSXP) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,342 shares of the oil and gas company’s stock after buying an additional 234 shares during the period. The Manufacturers Life Insurance Company’s holdings in Phillips 66 Partners were worth $165,000 at the end of the most recent reporting period. Institutional investors own 41.14% of the company’s stock.
A number of research firms have issued reports on PSXP. Deutsche Bank began coverage on shares of Phillips 66 Partners in a report on Thursday. They set a “hold” rating for the company. Barclays decreased their price target on shares of Phillips 66 Partners from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday. Zacks Investment Research cut shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. Citigroup decreased their price target on shares of Phillips 66 Partners from $60.00 to $56.50 and set a “buy” rating for the company in a report on Tuesday, March 27th. Finally, JPMorgan Chase restated an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Phillips 66 Partners in a report on Tuesday, March 13th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Phillips 66 Partners presently has a consensus rating of “Hold” and an average price target of $57.13.
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Phillips 66 Partners Company Profile
Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.
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