Jefferies Group Analysts Give Phillips 66 Partners LP (PSXP) a $54.00 Price Target
Phillips 66 Partners LP (NYSE:PSXP) has been given a $54.00 price target by stock analysts at Jefferies Group in a research report issued on Saturday. The firm presently has a a “hold” rating on the stock. Jefferies Group’s target price points to a potential upside of 14.92% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. Goldman Sachs Group Inc. assumed coverage on Phillips 66 Partners in a research note on Thursday, August 25th. They issued a “neutral” rating and a $52.00 price target on the stock. Mizuho assumed coverage on Phillips 66 Partners in a research note on Thursday, September 29th. They issued a “buy” rating and a $55.00 price target on the stock. Zacks Investment Research raised Phillips 66 Partners from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Saturday. Deutsche Bank AG set a $57.00 price target on Phillips 66 Partners and gave the stock a “buy” rating in a research note on Monday, October 10th. Finally, Barclays PLC reduced their price target on Phillips 66 Partners from $66.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Phillips 66 Partners has a consensus rating of “Buy” and an average target price of $63.93.
Phillips 66 Partners (NYSE:PSXP) traded down 0.02% during trading on Friday, hitting $46.99. The company’s stock had a trading volume of 410,753 shares. Phillips 66 Partners has a 12 month low of $46.20 and a 12 month high of $66.81. The firm has a 50 day moving average of $48.02 and a 200 day moving average of $53.19. The firm has a market cap of $4.57 billion, a P/E ratio of 22.78 and a beta of 1.57.
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Phillips 66 Partners (NYSE:PSXP) last posted its earnings results on Friday, July 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The business had revenue of $140.40 million for the quarter, compared to analysts’ expectations of $122.82 million. During the same period last year, the firm posted $0.50 earnings per share. Phillips 66 Partners’s quarterly revenue was up 67.5% on a year-over-year basis. Equities research analysts predict that Phillips 66 Partners will post $2.28 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Center Coast Capital Advisors LP increased its position in shares of Phillips 66 Partners by 137.2% in the second quarter. Center Coast Capital Advisors LP now owns 2,547,046 shares of the company’s stock worth $142,303,000 after buying an additional 1,473,303 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Phillips 66 Partners by 18.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,402,095 shares of the company’s stock worth $357,685,000 after buying an additional 982,297 shares during the period. Westwood Holdings Group Inc. boosted its stake in Phillips 66 Partners by 524.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,092,365 shares of the company’s stock worth $61,030,000 after buying an additional 917,475 shares during the period. Alps Advisors Inc. boosted its stake in Phillips 66 Partners by 44.2% in the second quarter. Alps Advisors Inc. now owns 2,281,266 shares of the company’s stock worth $127,454,000 after buying an additional 699,479 shares during the period. Finally, American Century Companies Inc. purchased a new stake in Phillips 66 Partners during the second quarter worth approximately $36,025,000.
About Phillips 66 Partners
Phillips 66 Partners LP 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 charges tariffs and fees for transporting crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States.
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