Phillips 66 Partners LP (PSXP) Given a $59.00 Price Target by Mizuho Analysts

Mizuho set a $59.00 target price on Phillips 66 Partners LP (NYSE:PSXP) in a research note issued to investors on Sunday morning. The firm currently has a buy rating on the oil and gas company’s stock.

PSXP has been the topic of a number of other research reports. Barclays PLC raised shares of Phillips 66 Partners from an equal weight rating to an overweight rating and set a $61.00 target price on the stock in a report on Tuesday, July 18th. BidaskClub lowered shares of Phillips 66 Partners from a hold rating to a sell rating in a report on Wednesday, October 25th. Jefferies Group LLC reaffirmed a hold rating and set a $51.00 target price on shares of Phillips 66 Partners in a report on Monday, October 16th. Scotiabank reaffirmed a buy rating and set a $61.00 target price on shares of Phillips 66 Partners in a report on Wednesday, October 25th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $60.00 target price (down previously from $61.00) on shares of Phillips 66 Partners in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Phillips 66 Partners presently has an average rating of Buy and a consensus price target of $59.38.

Shares of Phillips 66 Partners (NYSE:PSXP) traded up 0.56% on Friday, hitting $50.96. 243,631 shares of the company’s stock were exchanged. Phillips 66 Partners has a 12 month low of $42.47 and a 12 month high of $58.00. The firm has a market cap of $5.63 billion, a P/E ratio of 21.01 and a beta of 1.54. The stock’s 50 day moving average is $50.96 and its 200 day moving average is $49.93.

Phillips 66 Partners (NYSE:PSXP) last posted its earnings results on Friday, October 27th. The oil and gas company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). The firm had revenue of $245.00 million for the quarter, compared to the consensus estimate of $236.18 million. Phillips 66 Partners had a return on equity of 23.99% and a net margin of 42.19%. The business’s revenue was up 69.8% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. On average, equities analysts predict that Phillips 66 Partners will post $2.66 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Phillips 66 Partners LP (PSXP) Given a $59.00 Price Target by Mizuho Analysts” was published by Community Financial News and is owned by of Community Financial News. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international trademark and copyright law. The original version of this piece of content can be read at https://www.com-unik.info/2017/10/30/phillips-66-partners-lp-psxp-given-a-59-00-price-target-by-mizuho-analysts.html.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be paid a $0.646 dividend. This represents a $2.58 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Monday, October 30th. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.62. Phillips 66 Partners’s payout ratio is currently 103.80%.

A number of hedge funds have recently added to or reduced their stakes in PSXP. Bank of New York Mellon Corp grew its stake in Phillips 66 Partners by 408.3% in the 1st quarter. Bank of New York Mellon Corp now owns 23,798 shares of the oil and gas company’s stock worth $1,221,000 after buying an additional 19,116 shares in the last quarter. Alliancebernstein L.P. grew its stake in Phillips 66 Partners by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 10,572 shares of the oil and gas company’s stock worth $543,000 after buying an additional 3,052 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Phillips 66 Partners by 9.8% in the 1st quarter. OppenheimerFunds Inc. now owns 22,360 shares of the oil and gas company’s stock worth $1,148,000 after buying an additional 1,990 shares in the last quarter. California Public Employees Retirement System purchased a new position in Phillips 66 Partners in the 1st quarter worth approximately $4,211,000. Finally, KCG Holdings Inc. grew its stake in Phillips 66 Partners by 84.8% in the 1st quarter. KCG Holdings Inc. now owns 9,854 shares of the oil and gas company’s stock worth $506,000 after buying an additional 4,522 shares in the last quarter. 43.07% of the stock is owned by institutional investors and hedge funds.

About Phillips 66 Partners

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

What are top analysts saying about Phillips 66 Partners LP? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Phillips 66 Partners LP and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit