Stifel Nicolaus downgraded shares of Phillips 66 Partners (NYSE:PSXP) from a buy rating to a hold rating in a research report released on Monday, Marketbeat Ratings reports. The brokerage currently has $52.00 price objective on the oil and gas company’s stock, up from their previous price objective of $50.00.
A number of other research firms also recently weighed in on PSXP. Bank of America downgraded Phillips 66 Partners from a buy rating to a neutral rating in a research note on Monday, December 10th. Jefferies Financial Group cut shares of Phillips 66 Partners from a buy rating to a hold rating in a research note on Monday, January 28th. Wells Fargo & Co reduced their target price on shares of Phillips 66 Partners from $57.00 to $55.00 and set a market perform rating for the company in a research note on Wednesday, October 31st. Raymond James increased their price target on shares of Phillips 66 Partners from $60.00 to $62.00 and gave the stock an outperform rating in a research report on Monday, October 29th. Finally, ValuEngine upgraded shares of Phillips 66 Partners from a sell rating to a hold rating in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Phillips 66 Partners has a consensus rating of Hold and a consensus target price of $56.54.
PSXP opened at $50.71 on Monday. The stock has a market capitalization of $6.24 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.34. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.00 and a quick ratio of 0.95. Phillips 66 Partners has a twelve month low of $40.76 and a twelve month high of $55.00.
Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings data on Friday, February 8th. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). Phillips 66 Partners had a net margin of 53.57% and a return on equity of 50.05%. The company had revenue of $393.00 million for the quarter, compared to analysts’ expectations of $375.17 million. During the same period last year, the business earned $0.83 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts anticipate that Phillips 66 Partners will post 4.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 13th. Investors of record on Friday, February 1st were paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 6.59%. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.79. The ex-dividend date was Thursday, January 31st. Phillips 66 Partners’s dividend payout ratio (DPR) is presently 83.50%.
In other news, Director Joseph O’toole bought 10,000 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was bought at an average cost of $46.96 per share, with a total value of $469,600.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $469,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Haney acquired 1,392 shares of Phillips 66 Partners stock in a transaction on Wednesday, January 16th. The stock was purchased at an average price of $49.31 per share, with a total value of $68,639.52. Following the purchase, the director now owns 28,000 shares of the company’s stock, valued at approximately $1,380,680. The disclosure for this purchase can be found here.
Institutional investors have recently modified their holdings of the company. Tortoise Index Solutions LLC boosted its holdings in shares of Phillips 66 Partners by 110.1% in the 4th quarter. Tortoise Index Solutions LLC now owns 19,239 shares of the oil and gas company’s stock worth $810,000 after acquiring an additional 10,083 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Phillips 66 Partners by 4.5% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,525,770 shares of the oil and gas company’s stock valued at $106,346,000 after purchasing an additional 108,879 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Phillips 66 Partners in the fourth quarter valued at about $4,263,000. Northern Trust Corp lifted its stake in Phillips 66 Partners by 125.7% in the 4th quarter. Northern Trust Corp now owns 88,782 shares of the oil and gas company’s stock worth $3,739,000 after purchasing an additional 49,448 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Phillips 66 Partners in the 4th quarter worth $390,000. 44.32% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Phillips 66 Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 Partners and related companies with MarketBeat.com's FREE daily email newsletter.