Phillips 66 Partners LP (NYSE:PSXP) has been assigned an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $58.80.

PSXP has been the subject of a number of research analyst reports. Goldman Sachs upgraded shares of Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, December 18th. Credit Suisse Group started coverage on shares of Phillips 66 Partners in a report on Thursday, January 4th. They set a “neutral” rating and a $52.00 target price for the company. Bank of America started coverage on shares of Phillips 66 Partners in a report on Tuesday, January 9th. They set a “neutral” rating for the company. Morgan Stanley downgraded shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 11th. They noted that the move was a valuation call. Finally, Barclays downgraded shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $59.00 target price for the company. in a report on Wednesday, January 17th.

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Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Phillips 66 Partners by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 234 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Phillips 66 Partners by 2.1% during the 3rd quarter. SG Americas Securities LLC now owns 56,721 shares of the oil and gas company’s stock worth $2,981,000 after purchasing an additional 1,148 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Phillips 66 Partners by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 261,542 shares of the oil and gas company’s stock worth $13,692,000 after purchasing an additional 1,267 shares during the last quarter. Signature Financial Management Inc. boosted its stake in shares of Phillips 66 Partners by 34.1% during the 3rd quarter. Signature Financial Management Inc. now owns 5,500 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Phillips 66 Partners by 2.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 90,245 shares of the oil and gas company’s stock worth $4,724,000 after purchasing an additional 1,815 shares during the last quarter. Hedge funds and other institutional investors own 41.14% of the company’s stock.

Phillips 66 Partners (NYSE:PSXP) opened at $48.38 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.06. The stock has a market cap of $6,094.40, a PE ratio of 18.97, a PEG ratio of 1.72 and a beta of 1.41. Phillips 66 Partners has a twelve month low of $44.40 and a twelve month high of $56.48.

Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.04). The company had revenue of $331.00 million during the quarter, compared to analysts’ expectations of $316.00 million. Phillips 66 Partners had a net margin of 44.16% and a return on equity of 27.99%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. analysts forecast that Phillips 66 Partners will post 3.24 earnings per share for the current fiscal year.

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About Phillips 66 Partners

Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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