Analysts Anticipate Phillips 66 Partners LP (NYSE:PSXP) Will Announce Earnings of $1.00 Per Share

Equities analysts expect that Phillips 66 Partners LP (NYSE:PSXP) will report earnings per share (EPS) of $1.00 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Phillips 66 Partners’ earnings, with the lowest EPS estimate coming in at $0.97 and the highest estimate coming in at $1.03. Phillips 66 Partners reported earnings per share of $1.09 during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.3%. The company is scheduled to report its next quarterly earnings report on Friday, February 14th.

According to Zacks, analysts expect that Phillips 66 Partners will report full year earnings of $4.54 per share for the current fiscal year, with EPS estimates ranging from $4.33 to $4.88. For the next year, analysts expect that the business will post earnings of $4.23 per share, with EPS estimates ranging from $3.98 to $4.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Friday, October 25th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.08). The business had revenue of $423.00 million during the quarter, compared to analyst estimates of $410.93 million. Phillips 66 Partners had a net margin of 51.83% and a return on equity of 45.65%.

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of Phillips 66 Partners from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Barclays set a $58.00 price objective on shares of Phillips 66 Partners and gave the stock a “hold” rating in a research note on Friday, October 25th. Zacks Investment Research upgraded Phillips 66 Partners from a “strong sell” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Wednesday, October 30th. Mizuho lifted their target price on Phillips 66 Partners from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Raymond James upped their target price on Phillips 66 Partners from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $58.88.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lenox Wealth Advisors LLC bought a new stake in Phillips 66 Partners in the third quarter valued at approximately $25,000. FTB Advisors Inc. increased its holdings in shares of Phillips 66 Partners by 30.2% during the 3rd quarter. FTB Advisors Inc. now owns 954 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 221 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Phillips 66 Partners by 47.6% during the 2nd quarter. Lindbrook Capital LLC now owns 1,240 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 400 shares during the last quarter. Lee Financial Co bought a new stake in Phillips 66 Partners in the 2nd quarter valued at $69,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in Phillips 66 Partners during the 2nd quarter valued at $87,000. Institutional investors and hedge funds own 24.30% of the company’s stock.

Phillips 66 Partners stock opened at $55.58 on Friday. The company has a market cap of $12.68 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 3.07 and a beta of 0.91. Phillips 66 Partners has a 1-year low of $40.76 and a 1-year high of $59.75. The company has a fifty day simple moving average of $55.53 and a 200 day simple moving average of $53.20. The company has a current ratio of 1.51, a quick ratio of 1.49 and a debt-to-equity ratio of 1.91.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Thursday, October 31st were paid a $0.865 dividend. The ex-dividend date was Wednesday, October 30th. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.23%. Phillips 66 Partners’s dividend payout ratio (DPR) is currently 86.50%.

About Phillips 66 Partners

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) 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, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.

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

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