Phillips 66 Partners (PSXP) to Release Earnings on Wednesday
Phillips 66 Partners (NASDAQ:PSXP) is scheduled to be posting its Q114 quarterly earnings results on Wednesday, April 30th. Analysts expect Phillips 66 Partners to post earnings of $0.30 per share and revenue of $36.70 million for the quarter. Parties interested in participating in the company’s conference call can do so using this link.
Phillips 66 Partners (NASDAQ:PSXP) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the 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. On average, analysts expect Phillips 66 Partners to post $1.61 EPS for the current fiscal year and $1.80 EPS for the next fiscal year.
Shares of Phillips 66 Partners (NASDAQ:PSXP) opened at 54.84 on Tuesday. Phillips 66 Partners has a 1-year low of $28.10 and a 1-year high of $58.55. The stock’s 50-day moving average is $50.9 and its 200-day moving average is $40.31. The company has a market cap of $3.863 billion and a price-to-earnings ratio of 139.48.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, May 13th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.2743 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, May 1st. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.22.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Phillips 66 Partners from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 22nd. They now have a $58.70 price target on the stock. On a related note, analysts at Citigroup Inc. raised their price target on shares of Phillips 66 Partners from $36.50 to $50.50 in a research note on Friday, March 28th. Finally, analysts at Howard Weil initiated coverage on shares of Phillips 66 Partners in a research note on Monday, March 3rd. They set a “sector perform” rating and a $48.00 price target on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $45.89.
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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