Q1 2019 EPS Estimates for Phillips 66 Partners LP Cut by Analyst (PSXP)

Phillips 66 Partners LP (NYSE:PSXP) – Jefferies Financial Group reduced their Q1 2019 earnings per share estimates for shares of Phillips 66 Partners in a note issued to investors on Monday, April 15th. Jefferies Financial Group analyst C. Sighinolfi now anticipates that the oil and gas company will earn $1.02 per share for the quarter, down from their prior estimate of $1.03. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for Phillips 66 Partners’ FY2023 earnings at $5.14 EPS.

Several other research analysts have also commented on PSXP. ValuEngine upgraded Phillips 66 Partners from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Bank of America restated a “neutral” rating and set a $53.00 price target (up from $46.00) on shares of Phillips 66 Partners in a research report on Thursday, February 7th. Stifel Nicolaus lowered Phillips 66 Partners from a “buy” rating to a “hold” rating and raised their price target for the stock from $50.00 to $52.00 in a research report on Monday, February 11th. Credit Suisse Group lowered their price target on Phillips 66 Partners from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, February 11th. Finally, Zacks Investment Research lowered Phillips 66 Partners from a “buy” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Phillips 66 Partners currently has an average rating of “Hold” and a consensus price target of $56.73.

PSXP opened at $50.39 on Wednesday. Phillips 66 Partners has a 52 week low of $40.76 and a 52 week high of $55.02. The firm has a market cap of $6.30 billion, a PE ratio of 12.60, a PEG ratio of 1.64 and a beta of 1.23. The company has a quick ratio of 0.43, a current ratio of 0.48 and a debt-to-equity ratio of 1.70.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings results on Friday, February 8th. The oil and gas company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.01). Phillips 66 Partners had a return on equity of 48.73% and a net margin of 53.57%. The firm had revenue of $393.00 million for the quarter, compared to analysts’ expectations of $375.17 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis.

A number of large investors have recently added to or reduced their stakes in PSXP. Tortoise Capital Advisors L.L.C. boosted its holdings in Phillips 66 Partners by 9.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 11,693,897 shares of the oil and gas company’s stock valued at $598,428,000 after purchasing an additional 1,038,327 shares during the period. Alps Advisors Inc. boosted its holdings in Phillips 66 Partners by 14.4% in the fourth quarter. Alps Advisors Inc. now owns 5,458,162 shares of the oil and gas company’s stock valued at $229,843,000 after purchasing an additional 688,878 shares during the period. JPMorgan Chase & Co. boosted its holdings in Phillips 66 Partners by 28.2% in the third quarter. JPMorgan Chase & Co. now owns 1,735,870 shares of the oil and gas company’s stock valued at $88,772,000 after purchasing an additional 381,955 shares during the period. Eagle Global Advisors LLC purchased a new position in Phillips 66 Partners in the fourth quarter valued at $10,674,000. Finally, MetLife Investment Advisors LLC purchased a new position in Phillips 66 Partners in the third quarter valued at $7,832,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Phillips 66 Partners Company Profile

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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Earnings History and Estimates for Phillips 66 Partners (NYSE:PSXP)

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