Equities analysts expect Phillips 66 Partners LP (NYSE:PSXP) to report $239.08 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Phillips 66 Partners’ earnings, with estimates ranging from $225.44 million to $249.00 million. Phillips 66 Partners posted sales of $138.80 million during the same quarter last year, which suggests a positive year over year growth rate of 72.2%. The firm is scheduled to report its next quarterly earnings report before the market opens on Tuesday, August 1st.

According to Zacks, analysts expect that Phillips 66 Partners will report full-year sales of $239.08 million for the current fiscal year, with estimates ranging from $905.43 million to $1.11 billion. For the next financial year, analysts expect that the business will post sales of $1.35 billion per share, with estimates ranging from $956.19 million to $1.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last released its earnings results on Friday, April 28th. The oil and gas company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.05. Phillips 66 Partners had a net margin of 46.38% and a return on equity of 22.31%. The company had revenue of $234 million during the quarter, compared to analysts’ expectations of $217.56 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share.

A number of research firms recently commented on PSXP. Royal Bank Of Canada restated a “buy” rating on shares of Phillips 66 Partners in a report on Tuesday, March 14th. BidaskClub downgraded Phillips 66 Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, June 15th. Finally, Stifel Nicolaus set a $63.00 price objective on Phillips 66 Partners and gave the stock a “buy” rating in a report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Phillips 66 Partners presently has a consensus rating of “Hold” and an average price target of $58.33.

Phillips 66 Partners (PSXP) traded down 0.37% during midday trading on Friday, reaching $48.99. 43,053 shares of the company’s stock traded hands. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 20.96 and a beta of 1.51. Phillips 66 Partners has a 52 week low of $42.47 and a 52 week high of $58.00. The company’s 50-day moving average price is $49.37 and its 200 day moving average price is $51.53.

Institutional investors have recently added to or reduced their stakes in the company. Pointe Capital Management LLC purchased a new position in Phillips 66 Partners during the first quarter worth approximately $1,409,000. Driehaus Capital Management LLC increased its position in shares of Phillips 66 Partners by 17.5% in the first quarter. Driehaus Capital Management LLC now owns 100,829 shares of the oil and gas company’s stock valued at $5,178,000 after buying an additional 14,989 shares during the period. HighTower Advisors LLC increased its position in shares of Phillips 66 Partners by 2.9% in the first quarter. HighTower Advisors LLC now owns 83,043 shares of the oil and gas company’s stock valued at $4,264,000 after buying an additional 2,308 shares during the period. Brookfield Asset Management Inc. increased its position in shares of Phillips 66 Partners by 93.3% in the first quarter. Brookfield Asset Management Inc. now owns 549,600 shares of the oil and gas company’s stock valued at $28,222,000 after buying an additional 265,300 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Phillips 66 Partners during the first quarter valued at approximately $834,000. Hedge funds and other institutional investors own 42.40% of the company’s stock.

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