Analysts Anticipate Phillips 66 Partners LP (PSXP) Will Post Earnings of $1.04 Per Share

Analysts predict that Phillips 66 Partners LP (NYSE:PSXP) will post earnings of $1.04 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Phillips 66 Partners’ earnings, with estimates ranging from $0.78 to $1.33. Phillips 66 Partners posted earnings of $0.87 per share during the same quarter last year, which would suggest a positive year over year growth rate of 19.5%. The firm is expected to report its next quarterly earnings results before the market opens on Tuesday, April 30th.

On average, analysts expect that Phillips 66 Partners will report full-year earnings of $4.41 per share for the current financial year, with EPS estimates ranging from $3.31 to $5.17. For the next financial year, analysts forecast that the company will report earnings of $4.84 per share, with EPS estimates ranging from $3.91 to $6.00. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings results on Friday, February 8th. The oil and gas company reported $1.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.01). The firm had revenue of $393.00 million during the quarter, compared to the consensus estimate of $375.17 million. Phillips 66 Partners had a return on equity of 48.73% and a net margin of 53.57%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 earnings per share.

PSXP has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Phillips 66 Partners from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Zacks Investment Research lowered shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a research report on Monday. ValuEngine upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Stifel Nicolaus lowered shares of Phillips 66 Partners from a “buy” rating to a “hold” rating and upped their target price for the stock from $50.00 to $52.00 in a research report on Monday, February 11th. Finally, Bank of America restated a “neutral” rating and set a $53.00 target price (up previously from $46.00) on shares of Phillips 66 Partners in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $56.55.

In other Phillips 66 Partners news, Director Mark Haney purchased 1,392 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The shares were bought at an average price of $49.31 per share, with a total value of $68,639.52. Following the completion of the purchase, the director now directly owns 28,000 shares in the company, valued at $1,380,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors have recently added to or reduced their stakes in PSXP. Ffcm LLC raised its stake in Phillips 66 Partners by 50.0% during the fourth quarter. Ffcm LLC now owns 675 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Phillips 66 Partners in the fourth quarter valued at $29,000. Lindbrook Capital LLC purchased a new stake in shares of Phillips 66 Partners in the fourth quarter valued at $34,000. Arlington Partners LLC purchased a new stake in shares of Phillips 66 Partners in the fourth quarter valued at $113,000. Finally, Advisor Group Inc. raised its stake in shares of Phillips 66 Partners by 25.1% in the fourth quarter. Advisor Group Inc. now owns 6,035 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 1,210 shares during the period. 42.83% of the stock is currently owned by institutional investors.

Shares of PSXP traded down $0.26 during mid-day trading on Monday, reaching $50.79. The stock had a trading volume of 215,800 shares, compared to its average volume of 349,031. The firm has a market cap of $6.33 billion, a P/E ratio of 12.70, a PEG ratio of 1.66 and a beta of 1.23. Phillips 66 Partners has a 12 month low of $40.76 and a 12 month high of $55.02. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.48 and a quick ratio of 0.43.

Phillips 66 Partners Company Profile

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids pipelines, terminals, and other transportation and midstream assets. The company operates pipeline assets in Lake Charles, Sweeny, Wood River, Borger/Ponca City, Billings, and Borger; terminal, rail rack, and storage assets in Louisiana, Texas, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana.

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Earnings History and Estimates for Phillips 66 Partners (NYSE:PSXP)

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