Stifel Nicolaus reaffirmed their buy rating on shares of Phillips 66 Partners (NYSE:PSXP) in a research report released on Sunday morning, MarketBeat reports. They currently have a $62.00 target price on the oil and gas company’s stock, up from their prior target price of $59.00.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley reduced their price objective on shares of Phillips 66 Partners from $56.00 to $55.00 and set an overweight rating for the company in a research report on Friday, November 17th. Goldman Sachs Group raised shares of Phillips 66 Partners from a neutral rating to a buy rating and set a $60.00 price objective for the company in a research report on Monday, December 18th. Royal Bank of Canada reaffirmed a buy rating and set a $63.00 price objective on shares of Phillips 66 Partners in a research report on Tuesday, November 7th. Mizuho set a $59.00 price objective on shares of Phillips 66 Partners and gave the stock a buy rating in a research report on Sunday, October 29th. Finally, Scotiabank reaffirmed a buy rating and set a $61.00 price objective on shares of Phillips 66 Partners in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Phillips 66 Partners currently has an average rating of Hold and a consensus price target of $58.20.

Phillips 66 Partners (NYSE:PSXP) opened at $51.57 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 1.28. Phillips 66 Partners has a 52-week low of $44.40 and a 52-week high of $57.61. The company has a market cap of $6,260.00, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.39.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.04). Phillips 66 Partners had a return on equity of 26.73% and a net margin of 44.16%. The company had revenue of $331.00 million for the quarter, compared to the consensus estimate of $316.00 million. During the same period last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. equities analysts predict that Phillips 66 Partners will post 3.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Wednesday, January 31st will be given a $0.678 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.65. Phillips 66 Partners’s payout ratio is presently 106.27%.

Several institutional investors have recently made changes to their positions in the company. Texas Yale Capital Corp. boosted its position in shares of Phillips 66 Partners by 41.7% in the fourth quarter. Texas Yale Capital Corp. now owns 80,380 shares of the oil and gas company’s stock valued at $4,208,000 after acquiring an additional 23,674 shares during the period. Cadence Capital Management LLC boosted its position in shares of Phillips 66 Partners by 15.4% in the fourth quarter. Cadence Capital Management LLC now owns 174,834 shares of the oil and gas company’s stock valued at $9,153,000 after acquiring an additional 23,387 shares during the period. Alps Advisors Inc. boosted its position in shares of Phillips 66 Partners by 2.4% in the fourth quarter. Alps Advisors Inc. now owns 3,868,700 shares of the oil and gas company’s stock valued at $202,526,000 after acquiring an additional 89,611 shares during the period. Center Coast Capital Advisors LP boosted its position in shares of Phillips 66 Partners by 16.9% in the fourth quarter. Center Coast Capital Advisors LP now owns 1,570,473 shares of the oil and gas company’s stock valued at $82,214,000 after acquiring an additional 226,624 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of Phillips 66 Partners by 65.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 524,019 shares of the oil and gas company’s stock valued at $27,432,000 after acquiring an additional 206,700 shares during the period. 37.22% of the stock is owned by institutional investors.

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Phillips 66 Partners Company Profile

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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