Phillips 66 Partners LP to Post Q1 2018 Earnings of $0.44 Per Share, Jefferies Group Forecasts (PSXP)

Phillips 66 Partners LP (NYSE:PSXP) – Analysts at Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for Phillips 66 Partners in a research report issued on Wednesday. Jefferies Group analyst C. Goldman now anticipates that the oil and gas company will post earnings of $0.44 per share for the quarter, down from their previous estimate of $0.58. Jefferies Group currently has a “Hold” rating and a $51.00 target price on the stock. Jefferies Group also issued estimates for Phillips 66 Partners’ Q3 2018 earnings at $0.40 EPS and Q4 2018 earnings at $0.45 EPS.

Phillips 66 Partners (NYSE:PSXP) last issued its earnings results on Friday, October 27th. The oil and gas company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). The business had revenue of $245.00 million during the quarter, compared to analyst estimates of $236.18 million. Phillips 66 Partners had a net margin of 42.19% and a return on equity of 23.56%. Phillips 66 Partners’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS.

PSXP has been the topic of a number of other research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a report on Tuesday, October 3rd. Mizuho set a $59.00 price objective on Phillips 66 Partners and gave the stock a “buy” rating in a report on Sunday, October 29th. Scotiabank restated a “buy” rating and issued a $61.00 price objective on shares of Phillips 66 Partners in a report on Wednesday, October 25th. BidaskClub upgraded Phillips 66 Partners from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Morgan Stanley restated an “overweight” rating on shares of Phillips 66 Partners in a report on Tuesday, September 5th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.00.

Shares of Phillips 66 Partners (NYSE PSXP) traded down $0.20 on Thursday, hitting $50.93. The stock had a trading volume of 372,200 shares, compared to its average volume of 293,251. The firm has a market cap of $6,215.98, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.63 and a beta of 1.46. Phillips 66 Partners has a one year low of $44.40 and a one year high of $58.00. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 1.28.

Hedge funds have recently made changes to their positions in the business. Duff & Phelps Investment Management Co. grew its holdings in Phillips 66 Partners by 10.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 317,319 shares of the oil and gas company’s stock valued at $16,678,000 after purchasing an additional 29,300 shares during the last quarter. Global X MANAGEMENT CO LLC grew its holdings in Phillips 66 Partners by 22.1% during the third quarter. Global X MANAGEMENT CO LLC now owns 506,352 shares of the oil and gas company’s stock valued at $26,614,000 after purchasing an additional 91,610 shares during the last quarter. Samson Capital Management LLC grew its holdings in Phillips 66 Partners by 5.4% during the second quarter. Samson Capital Management LLC now owns 110,635 shares of the oil and gas company’s stock valued at $5,468,000 after purchasing an additional 5,681 shares during the last quarter. NBW Capital LLC grew its holdings in Phillips 66 Partners by 4.1% during the second quarter. NBW Capital LLC now owns 157,341 shares of the oil and gas company’s stock valued at $7,776,000 after purchasing an additional 6,161 shares during the last quarter. Finally, Keybank National Association OH grew its holdings in Phillips 66 Partners by 71.1% during the third quarter. Keybank National Association OH now owns 8,735 shares of the oil and gas company’s stock valued at $459,000 after purchasing an additional 3,630 shares during the last quarter. Institutional investors own 37.17% of the company’s stock.

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