Phillips 66 Partners (PSXP) to Release Earnings on Friday

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Phillips 66 Partners (NYSE:PSXP) will announce its earnings results before the market opens on Friday, October 25th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings data on Friday, July 26th. The oil and gas company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.02. The business had revenue of $401.00 million during 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 business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. On average, analysts expect Phillips 66 Partners to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of NYSE:PSXP opened at $54.36 on Wednesday. The company has a market cap of $6.80 billion, a P/E ratio of 13.59, a P/E/G ratio of 3.05 and a beta of 0.90. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.88. Phillips 66 Partners has a 52 week low of $40.76 and a 52 week high of $59.75. The business has a fifty day simple moving average of $56.10 and a 200-day simple moving average of $52.19.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be given a $0.865 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.36%. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.86. Phillips 66 Partners’s payout ratio is currently 85.50%.

In other news, Director Phillip David Bairrington purchased 613 shares of the stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $52.11 per share, with a total value of $31,943.43. Following the completion of the transaction, the director now owns 10,626 shares in the company, valued at $553,720.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of equities research analysts have recently commented on PSXP shares. Bank of America lifted their price objective on Phillips 66 Partners from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. ValuEngine downgraded Phillips 66 Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Zacks Investment Research raised Phillips 66 Partners from a “sell” rating to a “hold” rating and set a $54.00 price objective for the company in a research report on Tuesday, July 16th. Finally, Barclays set a $56.00 price objective on Phillips 66 Partners and gave the company a “hold” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $57.11.

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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Earnings History for Phillips 66 Partners (NYSE:PSXP)

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