Phillips 66 Partners LP PT Raised to $43.00 at RBC Capital (PSXP)
Equities research analysts at RBC Capital hoisted their price objective on shares of Phillips 66 Partners LP (NASDAQ:PSXP) from $40.00 to $43.00 in a research note issued to investors on Friday, Analyst Ratings.Net reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price indicates a potential upside of 14.88% from the stock’s previous close.
Separately, analysts at Zacks downgraded shares of Phillips 66 Partners LP from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, January 14th. They now have a $34.40 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $36.73.
Phillips 66 Partners LP (NASDAQ:PSXP) traded down 0.15% on Friday, hitting $37.43. The stock had a trading volume of 65,116 shares. Phillips 66 Partners LP has a 52-week low of $28.10 and a 52-week high of $39.28. The stock has a 50-day moving average of $36.75 and a 200-day moving average of $33.07. The company has a market cap of $2.636 billion and a price-to-earnings ratio of 113.25.
Phillips 66 Partners LP (NASDAQ:PSXP) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.24 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.06. The company had revenue of $30.00 million for the quarter, compared to the consensus estimate of $28.25 million. The company’s revenue for the quarter was up 35.7% on a year-over-year basis. Analysts expect that Phillips 66 Partners LP will post $1.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 13th. Shareholders of record on Tuesday, February 4th will be given a dividend of 0.2248 per share. This represents a $0.90 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Phillips 66 Partners LP’s previous quarterly dividend of $0.15.
Phillips 66 Partners LP owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum product and natural gas liquids (NASDAQ:PSXP) pipelines and terminals and other transportation and midstream assets.
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