Zacks: Analysts Anticipate Phillips 66 Partners LP (PSXP) Will Announce Quarterly Sales of $356.62 Million

Wall Street analysts forecast that Phillips 66 Partners LP (NYSE:PSXP) will announce $356.62 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Phillips 66 Partners’ earnings. The highest sales estimate is $366.20 million and the lowest is $334.00 million. Phillips 66 Partners posted sales of $245.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 45.6%. The business is scheduled to issue its next quarterly earnings report on Friday, October 26th.

On average, analysts expect that Phillips 66 Partners will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.04 billion to $1.45 billion. For the next financial year, analysts anticipate that the company will report sales of $1.47 billion per share, with estimates ranging from $1.15 billion to $1.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, July 27th. The oil and gas company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.05. The firm had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $344.16 million. Phillips 66 Partners had a net margin of 48.17% and a return on equity of 39.53%. Phillips 66 Partners’s quarterly revenue was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS.

A number of brokerages have commented on PSXP. JPMorgan Chase & Co. downgraded shares of Phillips 66 Partners from an “overweight” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Friday. Scotiabank set a $60.00 price objective on shares of Phillips 66 Partners and gave the stock a “buy” rating in a research report on Monday, August 20th. Morgan Stanley upped their price objective on shares of Phillips 66 Partners from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, August 17th. Bank of America cut their price objective on shares of Phillips 66 Partners from $65.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $57.04.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Phillips 66 Partners by 9.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,655,570 shares of the oil and gas company’s stock valued at $544,074,000 after purchasing an additional 920,338 shares in the last quarter. Alps Advisors Inc. increased its holdings in Phillips 66 Partners by 6.4% during the 2nd quarter. Alps Advisors Inc. now owns 4,414,520 shares of the oil and gas company’s stock valued at $225,405,000 after acquiring an additional 263,903 shares in the last quarter. Chickasaw Capital Management LLC increased its holdings in Phillips 66 Partners by 9.4% during the 2nd quarter. Chickasaw Capital Management LLC now owns 3,205,286 shares of the oil and gas company’s stock valued at $163,662,000 after acquiring an additional 274,108 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Phillips 66 Partners by 6.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,609,681 shares of the oil and gas company’s stock valued at $124,674,000 after acquiring an additional 165,210 shares in the last quarter. Finally, Brookfield Asset Management Inc. increased its holdings in Phillips 66 Partners by 906.0% during the 1st quarter. Brookfield Asset Management Inc. now owns 2,022,987 shares of the oil and gas company’s stock valued at $96,658,000 after acquiring an additional 1,821,887 shares in the last quarter. Institutional investors and hedge funds own 41.94% of the company’s stock.

NYSE:PSXP traded down $0.36 during trading hours on Friday, reaching $52.45. 1,538 shares of the company’s stock were exchanged, compared to its average volume of 342,600. The stock has a market cap of $6.49 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.13 and a beta of 1.41. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.25 and a quick ratio of 1.19. Phillips 66 Partners has a 1-year low of $44.40 and a 1-year high of $56.48.

The business also recently declared a quarterly dividend, which was paid on Monday, August 13th. Stockholders of record on Tuesday, July 31st were issued a $0.752 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend was Monday, July 30th. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.71. Phillips 66 Partners’s dividend payout ratio (DPR) is currently 116.22%.

Phillips 66 Partners Company Profile

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

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

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