Phillips 66 Partners (NYSE:PSXP) Announces Quarterly Earnings Results

Phillips 66 Partners (NYSE:PSXP) released its quarterly earnings results on Friday. The oil and gas company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.30, MarketWatch Earnings reports. The firm had revenue of $430.00 million during the quarter, compared to analyst estimates of $361.25 million. Phillips 66 Partners had a net margin of 54.94% and a return on equity of 45.19%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 EPS.

PSXP stock opened at $27.80 on Friday. The firm has a market cap of $6.35 billion, a P/E ratio of 6.95 and a beta of 1.33. The firm’s fifty day moving average is $33.94 and its 200 day moving average is $44.42. Phillips 66 Partners has a 52 week low of $19.00 and a 52 week high of $65.22. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.99 and a current ratio of 1.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Friday, July 31st will be paid a $0.875 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 12.59%. Phillips 66 Partners’s dividend payout ratio (DPR) is 81.59%.

Several equities analysts recently commented on the company. Stifel Nicolaus decreased their target price on Phillips 66 Partners from $48.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Raymond James decreased their price objective on shares of Phillips 66 Partners from $52.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 Partners from $54.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Royal Bank of Canada boosted their price target on shares of Phillips 66 Partners from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Mizuho lowered their price objective on shares of Phillips 66 Partners from $47.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Phillips 66 Partners presently has an average rating of “Buy” and a consensus price target of $47.27.

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 for Phillips 66 Partners (NYSE:PSXP)

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