Analysts Anticipate Phillips 66 Partners LP (NYSE:PSXP) to Post $0.86 Earnings Per Share


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Equities research analysts forecast that Phillips 66 Partners LP (NYSE:PSXP) will report earnings of $0.86 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Phillips 66 Partners’ earnings. The lowest EPS estimate is $0.81 and the highest is $0.93. Phillips 66 Partners reported earnings of $0.93 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.5%. The company is expected to report its next quarterly earnings report before the market opens on Friday, April 30th.

On average, analysts expect that Phillips 66 Partners will report full-year earnings of $3.70 per share for the current year, with EPS estimates ranging from $3.56 to $3.91. For the next year, analysts expect that the business will post earnings of $3.88 per share, with EPS estimates ranging from $3.68 to $4.07. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings results on Thursday, January 28th. The oil and gas company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.47). The firm had revenue of $390.00 million for the quarter, compared to analysts’ expectations of $390.12 million. Phillips 66 Partners had a net margin of 56.75% and a return on equity of 41.31%. During the same period in the previous year, the company posted $1.06 earnings per share.

Several research firms have commented on PSXP. Mizuho increased their price target on shares of Phillips 66 Partners from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, April 12th. Scotiabank began coverage on shares of Phillips 66 Partners in a research report on Monday, February 1st. They set a “sector perform” rating for the company. Finally, Credit Suisse Group decreased their price target on shares of Phillips 66 Partners from $39.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, March 8th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.45.

Shares of PSXP stock traded up $0.54 during mid-day trading on Monday, hitting $33.26. 574,868 shares of the stock traded hands, compared to its average volume of 1,129,276. The stock has a market cap of $7.59 billion, a P/E ratio of 8.55 and a beta of 1.13. The stock’s fifty day moving average is $30.93 and its two-hundred day moving average is $27.62. Phillips 66 Partners has a 52-week low of $21.28 and a 52-week high of $48.51. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.20 and a quick ratio of 0.18.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Friday, January 29th were issued a dividend of $0.875 per share. The ex-dividend date was Thursday, January 28th. This represents a $3.50 annualized dividend and a dividend yield of 10.52%. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.37. Phillips 66 Partners’s dividend payout ratio is 81.59%.

In related news, Director Mark Haney acquired 1,445 shares of the business’s stock in a transaction dated Wednesday, January 20th. The shares were purchased at an average price of $30.05 per share, for a total transaction of $43,422.25. Following the completion of the acquisition, the director now directly owns 32,474 shares in the company, valued at approximately $975,843.70. The transaction was disclosed in a document filed with the SEC, which is available through this link.

A number of large investors have recently modified their holdings of PSXP. Brookfield Asset Management Inc. increased its holdings in Phillips 66 Partners by 38.2% in the 4th quarter. Brookfield Asset Management Inc. now owns 1,855,769 shares of the oil and gas company’s stock worth $49,011,000 after buying an additional 513,414 shares during the period. Chickasaw Capital Management LLC increased its holdings in Phillips 66 Partners by 13.7% in the 4th quarter. Chickasaw Capital Management LLC now owns 2,653,747 shares of the oil and gas company’s stock worth $70,085,000 after buying an additional 320,509 shares during the period. Morgan Stanley increased its holdings in Phillips 66 Partners by 20.5% in the 4th quarter. Morgan Stanley now owns 1,614,655 shares of the oil and gas company’s stock worth $42,644,000 after buying an additional 274,824 shares during the period. Infrastructure Capital Advisors LLC increased its holdings in Phillips 66 Partners by 83.7% in the 4th quarter. Infrastructure Capital Advisors LLC now owns 361,377 shares of the oil and gas company’s stock worth $9,544,000 after buying an additional 164,676 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Phillips 66 Partners by 336.6% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 158,645 shares of the oil and gas company’s stock worth $5,053,000 after purchasing an additional 122,311 shares during the period. Institutional investors own 22.19% of the company’s stock.

Phillips 66 Partners Company Profile

Phillips 66 Partners LP owns, operates, develops, and acquires midstream assets. It offers transportation, terminaling, processing, stevedoring, storage, and fractionation of crude oil, refined petroleum products, and natural gas liquids. The company was founded in 2013 and is headquartered in Houston, Texas.

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