Shares of Phillips 66 Partners LP (NYSE:PSXP) have been given an average rating of “Hold” by the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $58.05.

Several equities research analysts have recently commented on PSXP shares. Morgan Stanley reaffirmed an “underweight” rating and issued a $55.00 target price on shares of Phillips 66 Partners in a research report on Friday, September 28th. Raymond James raised their target price on shares of Phillips 66 Partners from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, October 29th. Credit Suisse Group started coverage on shares of Phillips 66 Partners in a research report on Thursday, October 11th. They issued an “outperform” rating and a $66.00 target price for the company. Bank of America cut shares of Phillips 66 Partners from a “buy” rating to a “neutral” rating in a research report on Monday, December 10th. Finally, Wells Fargo & Co dropped their target price on shares of Phillips 66 Partners from $57.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, October 31st.

NYSE:PSXP opened at $47.99 on Friday. Phillips 66 Partners has a 12 month low of $40.76 and a 12 month high of $56.48. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.00 and a quick ratio of 0.95. The stock has a market capitalization of $6.11 billion, a PE ratio of 18.53, a P/E/G ratio of 1.79 and a beta of 1.21.

Phillips 66 Partners (NYSE:PSXP) last posted its earnings results on Friday, October 26th. The oil and gas company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.18. Phillips 66 Partners had a net margin of 51.76% and a return on equity of 47.66%. The firm had revenue of $384.00 million during the quarter, compared to analysts’ expectations of $362.44 million. During the same period last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Phillips 66 Partners will post 4.05 earnings per share for the current year.

In other Phillips 66 Partners news, Director Joseph O’toole purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was bought at an average cost of $46.96 per share, with a total value of $469,600.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $469,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. lifted its position in Phillips 66 Partners by 9.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 11,693,897 shares of the oil and gas company’s stock valued at $598,428,000 after acquiring an additional 1,038,327 shares during the period. Alps Advisors Inc. increased its stake in Phillips 66 Partners by 8.0% during the 3rd quarter. Alps Advisors Inc. now owns 4,769,284 shares of the oil and gas company’s stock valued at $243,901,000 after purchasing an additional 354,764 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Phillips 66 Partners by 5.4% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,416,891 shares of the oil and gas company’s stock valued at $123,584,000 after purchasing an additional 124,310 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Phillips 66 Partners by 28.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,870 shares of the oil and gas company’s stock valued at $88,772,000 after purchasing an additional 381,955 shares in the last quarter. Finally, Brookfield Asset Management Inc. increased its stake in Phillips 66 Partners by 5.0% during the 3rd quarter. Brookfield Asset Management Inc. now owns 1,335,191 shares of the oil and gas company’s stock valued at $68,281,000 after purchasing an additional 63,053 shares in the last quarter. 44.03% of the stock is owned by institutional investors.

About Phillips 66 Partners

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids 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, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana.

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Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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