Analysts forecast that Phillips 66 Partners LP (NYSE:PSXP) will announce $411.94 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Phillips 66 Partners’ earnings, with estimates ranging from $405.00 million to $423.00 million. Phillips 66 Partners reported sales of $384.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.3%. The company is scheduled to report its next earnings report on Friday, October 25th.
On average, analysts expect that Phillips 66 Partners will report full year sales of $1.65 billion for the current financial year, with estimates ranging from $1.64 billion to $1.68 billion. For the next year, analysts expect that the business will post sales of $1.79 billion, with estimates ranging from $1.72 billion to $1.88 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Phillips 66 Partners.
Phillips 66 Partners (NYSE:PSXP) last posted its earnings results on Friday, July 26th. The oil and gas company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $393.61 million. Phillips 66 Partners had a return on equity of 48.70% and a net margin of 54.28%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share.
In other Phillips 66 Partners news, VP Kevin J. Mitchell bought 7,349 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $48.50 per share, with a total value of $356,426.50. Following the completion of the purchase, the vice president now owns 10,000 shares in the company, valued at approximately $485,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Phillip David Bairrington bought 613 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $52.11 per share, for a total transaction of $31,943.43. Following the purchase, the director now owns 10,626 shares of the company’s stock, valued at approximately $553,720.86. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 10,613 shares of company stock worth $518,640.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PSXP. Bank of Montreal Can grew its stake in shares of Phillips 66 Partners by 275.6% during the first quarter. Bank of Montreal Can now owns 637,445 shares of the oil and gas company’s stock valued at $33,370,000 after buying an additional 467,709 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in Phillips 66 Partners in the first quarter worth approximately $16,238,000. Kayne Anderson Capital Advisors LP grew its stake in Phillips 66 Partners by 11.5% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,816,746 shares of the oil and gas company’s stock worth $147,448,000 after purchasing an additional 290,976 shares in the last quarter. Wells Fargo & Company MN grew its stake in Phillips 66 Partners by 50.6% in the second quarter. Wells Fargo & Company MN now owns 545,681 shares of the oil and gas company’s stock worth $26,929,000 after purchasing an additional 183,324 shares in the last quarter. Finally, Miller Howard Investments Inc. NY grew its stake in Phillips 66 Partners by 43.7% in the second quarter. Miller Howard Investments Inc. NY now owns 461,835 shares of the oil and gas company’s stock worth $22,792,000 after purchasing an additional 140,499 shares in the last quarter. 43.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PSXP traded up $0.31 during mid-day trading on Friday, reaching $52.07. The stock had a trading volume of 286,254 shares, compared to its average volume of 339,937. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.72 and a current ratio of 0.76. The firm has a market cap of $6.54 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.90 and a beta of 1.00. Phillips 66 Partners has a 1 year low of $40.76 and a 1 year high of $55.02. The business has a 50 day moving average of $51.28.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.855 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.85. This represents a $3.42 dividend on an annualized basis and a yield of 6.57%. Phillips 66 Partners’s dividend payout ratio is 85.50%.
Phillips 66 Partners Company Profile
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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