Phillips 66 Partners (NYSE:PSXP) issued its quarterly earnings data on Friday. The oil and gas company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.75 by $0.30, MarketWatch Earnings reports. Phillips 66 Partners had a net margin of 54.94% and a return on equity of 45.19%. The firm had revenue of $430.00 million during the quarter, compared to the consensus estimate of $361.25 million. During the same period in the prior year, the firm posted $1.15 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year.
NYSE:PSXP opened at $27.80 on Friday. Phillips 66 Partners has a one year low of $19.00 and a one year high of $65.22. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.99 and a current ratio of 1.05. The firm has a market cap of $6.35 billion, a P/E ratio of 6.85 and a beta of 1.33. The firm has a 50-day simple moving average of $33.94 and a 200-day simple moving average of $44.42.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Friday, July 31st will be issued a $0.875 dividend. The ex-dividend date is Thursday, July 30th. This represents a $3.50 annualized dividend and a dividend yield of 12.59%. Phillips 66 Partners’s dividend payout ratio is currently 81.59%.
A number of research firms have recently commented on PSXP. Citigroup cut their price target on shares of Phillips 66 Partners from $55.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Wells Fargo & Co downgraded shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a research report on Wednesday, July 22nd. Mizuho decreased their price objective on shares of Phillips 66 Partners from $47.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Royal Bank of Canada raised their target price on shares of Phillips 66 Partners from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Phillips 66 Partners from $54.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $47.27.
About Phillips 66 Partners
Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) 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, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.
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