Phillips 66 Partners LP (NYSE:PSXP) has been given a consensus recommendation of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $35.00.
A number of analysts have weighed in on PSXP shares. Zacks Investment Research raised shares of Phillips 66 Partners from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Thursday, September 9th. Wells Fargo & Company lifted their price target on shares of Phillips 66 Partners from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, June 24th. Mizuho boosted their target price on shares of Phillips 66 Partners from $34.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, June 9th. Raymond James boosted their target price on shares of Phillips 66 Partners from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, July 21st. Finally, TheStreet upgraded shares of Phillips 66 Partners from a “c+” rating to a “b” rating in a report on Friday, September 3rd.
Shares of NYSE:PSXP traded down $0.52 on Friday, reaching $35.04. The company had a trading volume of 490,691 shares, compared to its average volume of 361,530. The stock has a 50-day moving average price of $36.37 and a 200 day moving average price of $35.92. The stock has a market capitalization of $8.00 billion, a P/E ratio of 17.26 and a beta of 1.20. The company has a quick ratio of 0.18, a current ratio of 0.24 and a debt-to-equity ratio of 1.63. Phillips 66 Partners has a twelve month low of $21.28 and a twelve month high of $42.17.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 9.99%. The ex-dividend date was Thursday, July 29th. Phillips 66 Partners’s payout ratio is 97.77%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC purchased a new position in Phillips 66 Partners in the second quarter valued at about $28,000. Advisory Services Network LLC purchased a new stake in shares of Phillips 66 Partners during the 2nd quarter valued at approximately $64,000. Clean Yield Group purchased a new stake in shares of Phillips 66 Partners during the 2nd quarter valued at approximately $75,000. IFP Advisors Inc purchased a new stake in shares of Phillips 66 Partners during the 2nd quarter valued at approximately $75,000. Finally, Cresset Asset Management LLC purchased a new stake in shares of Phillips 66 Partners during the 2nd quarter valued at approximately $227,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.
Phillips 66 Partners Company Profile
Phillips 66 Partners LP engages in the ownership, operation, development, and acquisition of crude oil, refined petroleum product and natural gas liquids pipelines and terminals, and other transportation and midstream assets. It also provides terminals and storages for oil and petroleum products. The company was founded on February 20, 2013 and is headquartered in Houston, TX.
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