Recent Investment Analysts’ Ratings Changes for Phillips 66 Partners (PSXP)

Several analysts have recently updated their ratings and price targets for Phillips 66 Partners (NYSE: PSXP):

  • 2/5/2018 – Phillips 66 Partners had its price target lowered by analysts at Barclays PLC from $59.00 to $56.00. They now have an “equal weight” rating on the stock.
  • 2/4/2018 – Phillips 66 Partners had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $62.00 price target on the stock, up previously from $59.00.
  • 1/29/2018 – Phillips 66 Partners had its “buy” rating reaffirmed by analysts at Scotiabank. They now have a $60.00 price target on the stock.
  • 1/25/2018 – Phillips 66 Partners was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Phillips 66 Partners L.P is a downstream energy company. It operates in three segments: Refining and Marketing, Midstream and Chemicals. Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products primarily in the United States, Europe and Asia. This segment also includes power generation operations. Midstream segment gathers, processes, transports and markets natural gas and transports, fractionates and markets natural gas liquids primarily in the United States. Chemicals segment manufactures and markets petrochemicals and plastics. Phillips 66 Partners L.P is headquartered in Houston, Texas. “
  • 1/17/2018 – Phillips 66 Partners was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $59.00 price target on the stock.
  • 1/11/2018 – Phillips 66 Partners was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/9/2018 – Phillips 66 Partners is now covered by analysts at Bank of America Corp. They set a “neutral” rating on the stock.
  • 1/4/2018 – Phillips 66 Partners is now covered by analysts at Credit Suisse Group AG. They set a “neutral” rating and a $52.00 price target on the stock.
  • 12/18/2017 – Phillips 66 Partners was upgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating. They now have a $60.00 price target on the stock.

Phillips 66 Partners LP (NYSE:PSXP) opened at $50.29 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 1.28. Phillips 66 Partners LP has a 12-month low of $44.40 and a 12-month high of $57.61. The firm has a market capitalization of $5,988.64, a P/E ratio of 19.72, a PEG ratio of 1.30 and a beta of 1.39.

Phillips 66 Partners (NYSE:PSXP) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). Phillips 66 Partners had a return on equity of 26.73% and a net margin of 44.16%. The firm had revenue of $331.00 million for the quarter, compared to analyst estimates of $316.00 million. During the same period in the previous year, the company earned $0.65 earnings per share. Phillips 66 Partners’s revenue for the quarter was up 10.7% compared to the same quarter last year. research analysts predict that Phillips 66 Partners LP will post 3.15 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 5.39%. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, January 30th. Phillips 66 Partners’s dividend payout ratio is presently 106.27%.

Phillips 66 Partners LP (Phillips 66) 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’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.

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