Wall Street analysts expect that Phillips 66 Partners LP (NYSE:PSXP) will report sales of $412.84 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Phillips 66 Partners’ earnings. The highest sales estimate is $423.00 million and the lowest is $401.70 million. Phillips 66 Partners reported sales of $384.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.5%. The company is scheduled to report its next earnings results before the market opens on Friday, October 25th.
On average, analysts expect that Phillips 66 Partners will report full-year sales of $1.66 billion for the current year, with estimates ranging from $1.63 billion to $1.68 billion. For the next year, analysts anticipate that the company will post sales of $1.81 billion, with estimates ranging from $1.72 billion to $1.94 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Phillips 66 Partners.
Phillips 66 Partners (NYSE:PSXP) last issued its earnings results on Friday, July 26th. The oil and gas company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $393.61 million. Phillips 66 Partners had a net margin of 54.28% and a return on equity of 48.70%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS.
PSXP stock traded down $0.27 during trading on Thursday, reaching $54.92. 189,272 shares of the company were exchanged, compared to its average volume of 433,574. The company has a 50-day moving average of $56.10 and a two-hundred day moving average of $52.15. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 3.07 and a beta of 0.90. Phillips 66 Partners has a twelve month low of $40.76 and a twelve month high of $59.75. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.76 and a quick ratio of 0.72.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.865 per share. This represents a $3.46 dividend on an annualized basis and a yield of 6.30%. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.86. The ex-dividend date is Wednesday, October 30th. Phillips 66 Partners’s payout ratio is presently 85.50%.
In other Phillips 66 Partners news, Director Phillip David Bairrington bought 613 shares of Phillips 66 Partners stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $52.11 per share, with a total value of $31,943.43. Following the acquisition, the director now directly owns 10,626 shares of the company’s stock, valued at approximately $553,720.86. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of institutional investors and hedge funds have recently bought and sold shares of PSXP. Lenox Wealth Advisors LLC purchased a new stake in Phillips 66 Partners in the third quarter worth $25,000. Lindbrook Capital LLC raised its holdings in shares of Phillips 66 Partners by 47.6% in the second quarter. Lindbrook Capital LLC now owns 1,240 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 400 shares during the last quarter. Lee Financial Co purchased a new stake in shares of Phillips 66 Partners in the second quarter valued at about $69,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Phillips 66 Partners in the second quarter valued at about $87,000. Finally, MHI Funds LLC purchased a new stake in shares of Phillips 66 Partners in the third quarter valued at about $126,000. 42.68% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 Partners Company Profile
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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