Phillips 66 Partners LP (PSXP) Given Average Rating of “Buy” by Analysts
Shares of Phillips 66 Partners LP (NYSE:PSXP) have been assigned an average recommendation of “Buy” from the twelve research firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $59.25.
Several equities analysts have weighed in on PSXP shares. Scotiabank reaffirmed a “buy” rating and set a $61.00 target price on shares of Phillips 66 Partners in a research note on Monday, February 6th. Cowen and Company raised Phillips 66 Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 25th. Barclays PLC lifted their target price on Phillips 66 Partners from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 7th. Stifel Nicolaus lifted their target price on Phillips 66 Partners from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, February 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Phillips 66 Partners in a research note on Tuesday, March 14th.
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Large investors have recently made changes to their positions in the stock. Creative Planning raised its stake in shares of Phillips 66 Partners by 233.1% in the first quarter. Creative Planning now owns 2,861 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 2,002 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in shares of Phillips 66 Partners during the first quarter valued at about $159,000. Investment House LLC purchased a new stake in shares of Phillips 66 Partners during the first quarter valued at about $200,000. Keybank National Association OH raised its stake in shares of Phillips 66 Partners by 4.9% in the fourth quarter. Keybank National Association OH now owns 4,420 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 205 shares in the last quarter. Finally, Homrich & Berg purchased a new stake in shares of Phillips 66 Partners during the first quarter valued at about $232,000. Institutional investors and hedge funds own 40.67% of the company’s stock.
Phillips 66 Partners (NYSE:PSXP) traded up 2.88% on Friday, reaching $52.95. 218,889 shares of the company’s stock were exchanged. The stock has a market capitalization of $5.71 billion, a P/E ratio of 22.66 and a beta of 1.56. Phillips 66 Partners has a 1-year low of $42.47 and a 1-year high of $58.00. The firm’s 50 day moving average is $52.25 and its 200 day moving average is $50.65.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.05. The company had revenue of $234 million during the quarter, compared to analysts’ expectations of $217.56 million. Phillips 66 Partners had a return on equity of 20.92% and a net margin of 47.59%. During the same period in the prior year, the business posted $0.44 EPS. Analysts expect that Phillips 66 Partners will post $2.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Monday, May 1st were paid a dividend of $0.586 per share. This represents a $2.34 annualized dividend and a yield of 4.55%. The ex-dividend date was Thursday, April 27th. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.56. Phillips 66 Partners’s payout ratio is 102.76%.
About Phillips 66 Partners
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