Phillips 66 Partners (NYSE:PSXP) had its price target boosted by Raymond James from $60.00 to $62.00 in a research report report published on Monday. They currently have an outperform rating on the oil and gas company’s stock.
A number of other equities analysts have also recently weighed in on the company. ValuEngine raised Phillips 66 Partners from a sell rating to a hold rating in a report on Thursday, October 18th. Credit Suisse Group began coverage on Phillips 66 Partners in a report on Thursday, October 11th. They issued an outperform rating and a $66.00 price target for the company. Morgan Stanley reissued an underweight rating and issued a $55.00 price target on shares of Phillips 66 Partners in a report on Friday, September 28th. JPMorgan Chase & Co. cut Phillips 66 Partners from an overweight rating to a neutral rating and set a $61.00 price target for the company. in a report on Friday, August 24th. Finally, Scotiabank set a $60.00 price target on Phillips 66 Partners and gave the stock a buy rating in a report on Monday, August 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Phillips 66 Partners presently has an average rating of Hold and a consensus target price of $58.54.
PSXP traded down $0.30 during trading on Monday, reaching $48.78. 4,843 shares of the stock were exchanged, compared to its average volume of 248,462. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.19 and a current ratio of 1.00. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.84 and a beta of 1.39. Phillips 66 Partners has a 1 year low of $44.40 and a 1 year high of $56.48.
Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings results on Friday, October 26th. The oil and gas company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.18. Phillips 66 Partners had a return on equity of 47.66% and a net margin of 51.76%. The company had revenue of $384.00 million during the quarter, compared to analysts’ expectations of $362.44 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts predict that Phillips 66 Partners will post 4.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Wednesday, October 31st will be paid a $0.792 dividend. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.75. This represents a $3.17 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend is Tuesday, October 30th. Phillips 66 Partners’s dividend payout ratio is presently 122.39%.
Institutional investors have recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. acquired a new position in Phillips 66 Partners in the second quarter valued at $104,000. Walnut Private Equity Partners LLC increased its stake in Phillips 66 Partners by 275.9% in the third quarter. Walnut Private Equity Partners LLC now owns 2,725 shares of the oil and gas company’s stock valued at $139,000 after purchasing an additional 2,000 shares during the last quarter. Baldwin Brothers Inc. MA acquired a new position in Phillips 66 Partners in the second quarter valued at $140,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Phillips 66 Partners by 709.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,170 shares of the oil and gas company’s stock valued at $200,000 after purchasing an additional 3,655 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Phillips 66 Partners in the third quarter valued at $205,000. Hedge funds and other institutional investors own 41.72% of the company’s stock.
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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