Brokerages expect that Phillips 66 Partners LP (NYSE:PSXP) will announce sales of $413.00 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Phillips 66 Partners’ earnings. The lowest sales estimate is $393.00 million and the highest is $433.00 million. Phillips 66 Partners posted sales of $394.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The company is expected to announce its next quarterly earnings report before the market opens on Friday, October 29th.
According to Zacks, analysts expect that Phillips 66 Partners will report full-year sales of $1.61 billion for the current financial year, with estimates ranging from $1.55 billion to $1.66 billion. For the next year, analysts expect that the firm will report sales of $1.70 billion, with estimates ranging from $1.63 billion to $1.76 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Phillips 66 Partners.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Monday, August 2nd. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. Phillips 66 Partners had a return on equity of 35.09% and a net margin of 32.66%. The company had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $394.73 million. During the same period last year, the business earned $1.05 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis.
Shares of Phillips 66 Partners stock traded up $0.24 during trading on Monday, hitting $39.30. 2,495 shares of the company were exchanged, compared to its average volume of 764,327. Phillips 66 Partners has a 1-year low of $22.25 and a 1-year high of $42.17. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.24 and a quick ratio of 0.18. The firm has a market capitalization of $8.97 billion, a P/E ratio of 19.38 and a beta of 1.20. The firm’s fifty day moving average price is $36.14 and its 200 day moving average price is $36.74.
The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were given a $0.875 dividend. The ex-dividend date was Thursday, July 29th. This represents a $3.50 annualized dividend and a yield of 8.91%. Phillips 66 Partners’s dividend payout ratio is presently 97.77%.
Several hedge funds have recently modified their holdings of PSXP. Harbor Investment Advisory LLC acquired a new stake in shares of Phillips 66 Partners in the second quarter valued at about $28,000. Advisory Services Network LLC acquired a new stake in shares of Phillips 66 Partners in the second quarter valued at about $64,000. Clean Yield Group acquired a new stake in shares of Phillips 66 Partners in the second quarter valued at about $75,000. IFP Advisors Inc acquired a new stake in shares of Phillips 66 Partners in the second quarter valued at about $75,000. Finally, Carroll Financial Associates Inc. increased its stake in shares of Phillips 66 Partners by 37.9% in the third quarter. Carroll Financial Associates Inc. now owns 2,599 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 714 shares during the period. 17.44% of the stock is owned by institutional investors.
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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