$239.08 Million in Sales Expected for Phillips 66 Partners LP (PSXP) This Quarter

Wall Street brokerages expect Phillips 66 Partners LP (NYSE:PSXP) to report sales of $239.08 million for the current quarter, according to Zacks. Four analysts have provided estimates for Phillips 66 Partners’ earnings, with the highest sales estimate coming in at $249 million and the lowest estimate coming in at $225.44 million. Phillips 66 Partners reported sales of $138.8 million in the same quarter last year, which indicates a positive year over year growth rate of 72.2%. The company is expected to report its next earnings results on Friday, August 4th.

According to Zacks, analysts expect that Phillips 66 Partners will report full-year sales of $239.08 million for the current fiscal year, with estimates ranging from $905.43 million to $1.11 billion. For the next year, analysts expect that the firm will post sales of $1.34 billion per share, with estimates ranging from $956.19 million to $1.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.05. Phillips 66 Partners had a net margin of 47.59% and a return on equity of 20.92%. The firm had revenue of $234 million for the quarter, compared to analyst estimates of $217.56 million. During the same quarter last year, the business posted $0.44 earnings per share.

Several research analysts recently weighed in on PSXP shares. Cowen and Company upgraded shares of Phillips 66 Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 25th. Citigroup Inc upgraded shares of Phillips 66 Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 25th. Royal Bank of Canada restated a “buy” rating on shares of Phillips 66 Partners in a research report on Tuesday, March 14th. Stifel Nicolaus boosted their price objective on shares of Phillips 66 Partners from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 6th. Finally, Barclays PLC boosted their price objective on shares of Phillips 66 Partners from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Phillips 66 Partners has an average rating of “Buy” and an average target price of $58.33.

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Shares of Phillips 66 Partners (NYSE:PSXP) traded down 1.31% during trading on Wednesday, hitting $52.18. The stock had a trading volume of 65,477 shares. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 23.55 and a beta of 1.56. Phillips 66 Partners has a 52 week low of $42.47 and a 52 week high of $58.00. The stock’s 50 day moving average is $52.18 and its 200 day moving average is $50.64.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Monday, May 1st were given a dividend of $0.586 per share. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $2.34 annualized dividend and a dividend yield of 4.43%. Phillips 66 Partners’s payout ratio is presently 102.76%.

Several hedge funds have recently modified their holdings of the stock. Creative Planning boosted its stake in shares of Phillips 66 Partners by 233.1% in the first quarter. Creative Planning now owns 2,861 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 2,002 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Phillips 66 Partners during the first quarter valued at approximately $159,000. Investment House LLC acquired a new stake in shares of Phillips 66 Partners during the first quarter valued at approximately $200,000. Keybank National Association OH boosted its stake in shares of Phillips 66 Partners by 4.9% in the fourth quarter. Keybank National Association OH now owns 4,420 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 205 shares during the last quarter. Finally, Homrich & Berg acquired a new stake in shares of Phillips 66 Partners during the first quarter valued at approximately $232,000. Institutional investors own 40.67% of the company’s stock.

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