Phillips 66 Partners LP (NYSE:PSXP) released its earnings results on Tuesday, August 1st. The oil and gas company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.11, Bloomberg Earnings reports. Phillips 66 Partners had a return on equity of 23.01% and a net margin of 45.35%. The firm had revenue of $234 million for the quarter, compared to the consensus estimate of $235.69 million. During the same period in the prior year, the business earned $0.60 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis.
Shares of Phillips 66 Partners (NYSE:PSXP) opened at 46.53 on Friday. The firm has a market capitalization of $5.14 billion, a PE ratio of 19.19 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 has a 50-day moving average price of $49.07 and a 200 day moving average price of $51.27.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, July 31st were given a $0.615 dividend. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.59. This represents a $2.46 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Thursday, July 27th. Phillips 66 Partners’s dividend payout ratio (DPR) is currently 101.23%.
A number of institutional investors have recently added to or reduced their stakes in PSXP. Infrastructure Capital Advisors LLC boosted its position in Phillips 66 Partners by 99.5% in the first quarter. Infrastructure Capital Advisors LLC now owns 156,847 shares of the oil and gas company’s stock worth $8,054,000 after buying an additional 78,232 shares during the period. Diversified Trust Co boosted its position in Phillips 66 Partners by 1.6% in the second quarter. Diversified Trust Co now owns 24,029 shares of the oil and gas company’s stock worth $1,188,000 after buying an additional 382 shares during the period. MAI Capital Management boosted its position in Phillips 66 Partners by 1.6% in the first quarter. MAI Capital Management now owns 55,957 shares of the oil and gas company’s stock worth $2,873,000 after buying an additional 870 shares during the period. First Trust Advisors LP boosted its position in Phillips 66 Partners by 8.3% in the first quarter. First Trust Advisors LP now owns 117,353 shares of the oil and gas company’s stock worth $6,026,000 after buying an additional 8,965 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in Phillips 66 Partners by 23.9% in the first quarter. Neuberger Berman Group LLC now owns 9,877 shares of the oil and gas company’s stock worth $507,000 after buying an additional 1,903 shares during the period. Hedge funds and other institutional investors own 42.22% of the company’s stock.
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A number of research firms have commented on PSXP. Stifel Nicolaus set a $63.00 target price on Phillips 66 Partners and gave the stock a “buy” rating in a report on Saturday, June 24th. BidaskClub downgraded Phillips 66 Partners from a “sell” rating to a “strong sell” rating in a report on Friday. Citigroup Inc. cut their price target on Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, July 17th. Barclays PLC raised Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price target on the stock in a report on Tuesday, July 18th. Finally, Scotiabank set a $61.00 price target on Phillips 66 Partners and gave the stock a “buy” rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $56.44.
About Phillips 66 Partners
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