Phillips 66 Partners LP Hits New 12-Month High at $39.84 (PSXP)
Phillips 66 Partners LP (NASDAQ:PSXP)’s share price reached a new 52-week high during trading hours on Monday , Stock Ratings News reports. The company traded as high as $39.84 and last traded at $39.53, with a volume of 54,467 shares traded. The stock had previously closed at $38.94.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Phillips 66 Partners LP from $40.00 to $43.00 in a research note to investors on Friday, January 31st. They now have an “outperform” rating on the stock. 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $37.28.
Phillips 66 Partners LP (NASDAQ:PSXP) last released its earnings data 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. Phillips 66 Partners LP’s revenue was up 35.7% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, February 13th. Investors of record on Tuesday, February 4th will be paid a dividend of $0.2248 per share. This represents a $0.90 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, January 31st. This is an increase 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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