Wall Street analysts predict that Phillips 66 Partners LP (NYSE:PSXP) will announce earnings per share of $0.68 for the current quarter, Zacks reports. Three analysts have provided estimates for Phillips 66 Partners’ earnings, with the highest EPS estimate coming in at $0.92 and the lowest estimate coming in at $0.54. Phillips 66 Partners posted earnings of $0.57 per share during the same quarter last year, which would indicate a positive year over year growth rate of 19.3%. The company is expected to announce its next earnings results before the market opens on Friday, October 27th.

On average, analysts expect that Phillips 66 Partners will report full year earnings of $2.72 per share for the current fiscal year, with EPS estimates ranging from $2.63 to $2.91. For the next financial year, analysts forecast that the firm will report earnings of $3.53 per share, with EPS estimates ranging from $2.93 to $4.36. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last posted its earnings results on Tuesday, August 1st. The oil and gas company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.11). The firm had revenue of $234.00 million during the quarter, compared to analyst estimates of $235.69 million. Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share.

Several brokerages recently commented on PSXP. BidaskClub raised Phillips 66 Partners from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a research report on Friday, July 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of Phillips 66 Partners in a research report on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a research report on Tuesday, October 3rd. Finally, Scotiabank set a $61.00 target price on Phillips 66 Partners and gave the stock a “buy” rating in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Phillips 66 Partners currently has a consensus rating of “Buy” and a consensus price target of $57.86.

A number of hedge funds have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. lifted its position in Phillips 66 Partners by 0.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,034,708 shares of the oil and gas company’s stock worth $397,075,000 after purchasing an additional 58,854 shares during the period. Alps Advisors Inc. raised its stake in Phillips 66 Partners by 5.4% during the second quarter. Alps Advisors Inc. now owns 3,210,291 shares of the oil and gas company’s stock worth $158,653,000 after acquiring an additional 163,520 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Phillips 66 Partners by 0.6% during the second quarter. Westwood Holdings Group Inc. now owns 1,165,211 shares of the oil and gas company’s stock worth $57,585,000 after acquiring an additional 7,104 shares in the last quarter. Dividend Assets Capital LLC raised its stake in Phillips 66 Partners by 20.6% during the second quarter. Dividend Assets Capital LLC now owns 660,180 shares of the oil and gas company’s stock worth $32,626,000 after acquiring an additional 112,680 shares in the last quarter. Finally, Brookfield Asset Management Inc. raised its stake in Phillips 66 Partners by 3.1% during the second quarter. Brookfield Asset Management Inc. now owns 566,500 shares of the oil and gas company’s stock worth $27,996,000 after acquiring an additional 16,900 shares in the last quarter. 43.02% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Partners (NYSE:PSXP) traded up 1.49% during trading on Wednesday, reaching $53.67. 271,027 shares of the company’s stock traded hands. The firm has a 50 day moving average of $49.48 and a 200 day moving average of $49.92. Phillips 66 Partners has a 1-year low of $42.47 and a 1-year high of $58.00. The firm has a market capitalization of $5.54 billion, a PE ratio of 21.91 and a beta of 1.54.

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