Phillips 66 Partners (PSXP) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Phillips 66 Partners (NYSE:PSXP) released its earnings results on Friday. The oil and gas company reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.04), Bloomberg Earnings reports. The company had revenue of $331.00 million for the quarter, compared to analysts’ expectations of $316.00 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 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share.

Phillips 66 Partners (NYSE PSXP) traded down $1.52 during trading hours on Friday, reaching $51.61. The company’s stock had a trading volume of 483,869 shares, compared to its average volume of 280,528. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $6,270.00, a PE ratio of 20.24, a PEG ratio of 1.32 and a beta of 1.39. Phillips 66 Partners has a twelve month low of $44.40 and a twelve month high of $58.00.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 13th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.678 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.65. This represents a $2.71 dividend on an annualized basis and a yield of 5.25%. Phillips 66 Partners’s dividend payout ratio (DPR) is currently 106.27%.

Several equities analysts recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $62.00 target price on shares of Phillips 66 Partners in a research report on Sunday. BidaskClub upgraded Phillips 66 Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Jefferies Group reiterated a “hold” rating and set a $51.00 target price on shares of Phillips 66 Partners in a research report on Monday, October 16th. Goldman Sachs Group upgraded Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, December 18th. Finally, Citigroup lifted their target price on Phillips 66 Partners from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $58.50.

A number of large investors have recently bought and sold shares of the business. Center Coast Capital Advisors LP raised its holdings in Phillips 66 Partners by 16.9% during the fourth quarter. Center Coast Capital Advisors LP now owns 1,570,473 shares of the oil and gas company’s stock valued at $82,214,000 after acquiring an additional 226,624 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in Phillips 66 Partners by 65.1% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 524,019 shares of the oil and gas company’s stock valued at $27,432,000 after acquiring an additional 206,700 shares during the period. Bank of Montreal Can raised its holdings in Phillips 66 Partners by 97.7% during the fourth quarter. Bank of Montreal Can now owns 85,000 shares of the oil and gas company’s stock valued at $4,450,000 after acquiring an additional 42,000 shares during the period. Starfire Investment Advisers Inc. bought a new stake in Phillips 66 Partners during the fourth quarter valued at about $1,384,000. Finally, Atlantic Trust Group LLC raised its holdings in Phillips 66 Partners by 71.0% during the third quarter. Atlantic Trust Group LLC now owns 149,940 shares of the oil and gas company’s stock valued at $7,882,000 after acquiring an additional 62,279 shares during the period. 37.20% of the stock is currently owned by institutional investors and hedge funds.

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About Phillips 66 Partners

Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.

Earnings History for Phillips 66 Partners (NYSE:PSXP)

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