Phillips 66 Partners LP (NYSE:PSXP) – Equities researchers at Jefferies Group reduced their FY2017 earnings per share (EPS) estimates for shares of Phillips 66 Partners in a note issued to investors on Wednesday. Jefferies Group analyst C. Goldman now expects that the oil and gas company will earn $2.40 per share for the year, down from their prior estimate of $2.60. Jefferies Group currently has a “Hold” rating and a $51.00 target price on the stock. Jefferies Group also issued estimates for Phillips 66 Partners’ Q4 2017 earnings at $0.68 EPS, Q2 2018 earnings at $0.40 EPS, FY2018 earnings at $1.69 EPS, FY2019 earnings at $1.51 EPS, FY2020 earnings at $1.52 EPS and FY2021 earnings at $1.45 EPS.

Several other analysts have also issued reports on the stock. Morgan Stanley reissued an “overweight” rating on shares of Phillips 66 Partners in a research report on Tuesday, September 5th. Royal Bank of Canada reissued a “buy” rating and issued a $63.00 price target on shares of Phillips 66 Partners in a research report on Tuesday, November 7th. Mizuho set a $59.00 price target on shares of Phillips 66 Partners and gave the company a “buy” rating in a research report on Sunday, October 29th. Scotiabank reissued a “buy” rating and issued a $61.00 price target on shares of Phillips 66 Partners in a research report on Wednesday, October 25th. Finally, Barclays lowered their price target on shares of Phillips 66 Partners from $62.00 to $59.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Phillips 66 Partners presently has a consensus rating of “Buy” and a consensus price target of $59.00.

Shares of Phillips 66 Partners (NYSE PSXP) opened at $52.04 on Friday. Phillips 66 Partners has a 12-month low of $44.40 and a 12-month high of $58.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.64 and a quick ratio of 0.56. The stock has a market cap of $6,330.00, a P/E ratio of 22.05, a PEG ratio of 1.65 and a beta of 1.47.

Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.08). Phillips 66 Partners had a return on equity of 23.56% and a net margin of 42.19%. The company had revenue of $245.00 million during the quarter, compared to the consensus estimate of $236.18 million. During the same period in the prior year, the firm posted $0.57 EPS. The business’s revenue was up 69.8% on a year-over-year basis.

A number of institutional investors have recently bought and sold shares of PSXP. Alps Advisors Inc. increased its holdings in Phillips 66 Partners by 17.7% during the 3rd quarter. Alps Advisors Inc. now owns 3,779,089 shares of the oil and gas company’s stock worth $198,629,000 after acquiring an additional 568,798 shares during the period. RR Advisors LLC purchased a new position in Phillips 66 Partners in the 3rd quarter worth approximately $23,677,000. JPMorgan Chase & Co. grew its stake in Phillips 66 Partners by 33.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 851,747 shares of the oil and gas company’s stock worth $44,955,000 after buying an additional 215,461 shares in the last quarter. ING Groep NV purchased a new position in Phillips 66 Partners in the 3rd quarter worth approximately $10,880,000. Finally, BP Capital Fund Advisors LLC purchased a new position in Phillips 66 Partners in the 2nd quarter worth approximately $8,908,000. 37.17% of the stock is currently owned by institutional investors and hedge funds.

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Phillips 66 Partners Company Profile

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

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