Brokerages Expect Phillips 66 Partners LP (PSXP) to Announce $0.90 EPS

Brokerages predict that Phillips 66 Partners LP (NYSE:PSXP) will post earnings of $0.90 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Phillips 66 Partners’ earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $1.08. Phillips 66 Partners posted earnings of $0.51 per share during the same quarter last year, which suggests a positive year over year growth rate of 76.5%. The firm is scheduled to announce its next quarterly earnings report on Friday, October 26th.

According to Zacks, analysts expect that Phillips 66 Partners will report full-year earnings of $3.61 per share for the current financial year, with EPS estimates ranging from $3.23 to $3.83. For the next fiscal year, analysts anticipate that the business will report earnings of $3.57 per share, with EPS estimates ranging from $2.98 to $4.09. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Phillips 66 Partners.

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

A number of equities analysts have commented on PSXP shares. Barclays cut their price objective on shares of Phillips 66 Partners from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 17th. Bank of America raised shares of Phillips 66 Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 1st. Zacks Investment Research raised shares of Phillips 66 Partners from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, April 11th. Deutsche Bank assumed coverage on shares of Phillips 66 Partners in a research report on Thursday, April 19th. They issued a “hold” rating and a $55.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on shares of Phillips 66 Partners from $62.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, April 30th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $57.04.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of 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 buying an additional 263,903 shares during the last quarter. Chickasaw Capital Management LLC grew its position in shares of 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 buying an additional 274,108 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of 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 buying an additional 165,210 shares during the last quarter. Brookfield Asset Management Inc. grew its position in shares of 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 buying an additional 1,821,887 shares during the last quarter. Finally, UBS Group AG grew its position in shares of Phillips 66 Partners by 9.7% during the 1st quarter. UBS Group AG now owns 1,248,901 shares of the oil and gas company’s stock valued at $59,673,000 after buying an additional 110,232 shares during the last quarter. 38.65% of the stock is owned by institutional investors.

Phillips 66 Partners traded down $0.37, reaching $53.32, during trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 148,816 shares, compared to its average volume of 282,408. Phillips 66 Partners has a 1-year low of $44.40 and a 1-year high of $56.48. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.25 and a quick ratio of 1.45. The firm has a market capitalization of $6.60 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.65 and a beta of 1.41.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 13th. Stockholders of record on Tuesday, July 31st will be given a $0.752 dividend. The ex-dividend date of this dividend is Monday, July 30th. This represents a $3.01 annualized dividend and a dividend yield of 5.64%. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.71. Phillips 66 Partners’s payout ratio is presently 116.22%.

About Phillips 66 Partners

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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