$385.67 Million in Sales Expected for Phillips 66 Partners LP (PSXP) This Quarter

Wall Street analysts predict that Phillips 66 Partners LP (NYSE:PSXP) will announce sales of $385.67 million for the current quarter, according to Zacks. Four analysts have made estimates for Phillips 66 Partners’ earnings, with the highest sales estimate coming in at $396.00 million and the lowest estimate coming in at $378.50 million. Phillips 66 Partners posted sales of $355.00 million in the same quarter last year, which suggests a positive year over year growth rate of 8.6%. The company is expected to issue its next earnings results before the market opens on Tuesday, April 30th.

On average, analysts expect that Phillips 66 Partners will report full-year sales of $1.59 billion for the current financial year, with estimates ranging from $1.56 billion to $1.61 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.77 billion, with estimates ranging from $1.65 billion to $1.86 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Friday, February 8th. The oil and gas company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $375.17 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The business’s quarterly revenue was up 18.7% compared to the same quarter last year.

PSXP has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Phillips 66 Partners from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. ValuEngine upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Stifel Nicolaus lowered shares of Phillips 66 Partners from a “buy” rating to a “hold” rating and upped their target price for the company from $50.00 to $52.00 in a research note on Monday, February 11th. Bank of America lowered shares of Phillips 66 Partners from a “buy” rating to a “neutral” rating in a research note on Monday, December 10th. Finally, Credit Suisse Group cut their target price on shares of Phillips 66 Partners from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, February 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.55.

In other Phillips 66 Partners news, Director Mark Haney acquired 1,392 shares of the stock in a transaction that occurred on Wednesday, January 16th. The stock was acquired at an average price of $49.31 per share, with a total value of $68,639.52. Following the transaction, the director now directly owns 28,000 shares in the company, valued at $1,380,680. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Several large investors have recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. grew its position in shares of Phillips 66 Partners by 9.7% during the 3rd 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 buying an additional 1,038,327 shares during the last quarter. Alps Advisors Inc. grew its position in shares of Phillips 66 Partners by 14.4% during the 4th quarter. Alps Advisors Inc. now owns 5,458,162 shares of the oil and gas company’s stock valued at $229,843,000 after buying an additional 688,878 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of Phillips 66 Partners by 4.5% during the 4th 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 buying an additional 108,879 shares during the last quarter. Energy Income Partners LLC grew its position in shares of Phillips 66 Partners by 3.3% during the 4th quarter. Energy Income Partners LLC now owns 2,242,814 shares of the oil and gas company’s stock valued at $94,445,000 after buying an additional 70,638 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Phillips 66 Partners by 28.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,870 shares of the oil and gas company’s stock worth $88,772,000 after purchasing an additional 381,955 shares during the last quarter. 42.83% of the stock is owned by institutional investors and hedge funds.

PSXP stock traded up $0.12 during trading on Monday, reaching $52.35. The stock had a trading volume of 283,137 shares, compared to its average volume of 377,420. Phillips 66 Partners has a 1-year low of $40.76 and a 1-year high of $55.02. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.48 and a quick ratio of 0.43. The firm has a market capitalization of $6.48 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.71 and a beta of 1.22.

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

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