Deutsche Bank AG set a $57.00 target price on Phillips 66 Partners LP (NYSE:PSXP) in a research note released on Monday. The brokerage currently has a a buy rating on the stock.

PSXP has been the subject of a number of other reports. Stifel Nicolaus assumed coverage on shares of Phillips 66 Partners in a report on Thursday, August 18th. They issued a buy rating and a $59.00 price target for the company. Jefferies Group assumed coverage on shares of Phillips 66 Partners in a report on Tuesday, August 23rd. They issued a hold rating and a $54.00 price target for the company. Mizuho assumed coverage on shares of Phillips 66 Partners in a report on Thursday, September 29th. They issued a buy rating and a $55.00 price target for the company. Goldman Sachs Group Inc. assumed coverage on shares of Phillips 66 Partners in a report on Thursday, August 25th. They issued a neutral rating and a $52.00 price target for the company. Finally, Credit Suisse Group AG set a $76.00 price target on shares of Phillips 66 Partners and gave the company a buy rating in a report on Monday, August 1st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $64.79.

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

Shares of Phillips 66 Partners (NYSE:PSXP) traded down 0.57% on Monday, reaching $47.17. 146,727 shares of the company’s stock were exchanged. Phillips 66 Partners has a 12 month low of $46.20 and a 12 month high of $66.81. The company has a market capitalization of $4.59 billion, a P/E ratio of 22.86 and a beta of 1.57. The firm’s 50 day moving average price is $48.24 and its 200-day moving average price is $53.43.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. The business earned $140.40 million during the quarter, compared to analyst estimates of $122.82 million. During the same period in the previous year, the company posted $0.50 earnings per share. Phillips 66 Partners’s revenue was up 67.5% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 Partners will post $2.28 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. State Street Corp raised its stake in Phillips 66 Partners by 4.1% in the first quarter. State Street Corp now owns 19,766 shares of the company’s stock worth $1,237,000 after buying an additional 773 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Phillips 66 Partners by 56.2% in the first quarter. Nuveen Asset Management LLC now owns 104,898 shares of the company’s stock worth $6,566,000 after buying an additional 37,743 shares in the last quarter. Conning Inc. raised its stake in Phillips 66 Partners by 1.4% in the second quarter. Conning Inc. now owns 46,047 shares of the company’s stock worth $2,573,000 after buying an additional 654 shares in the last quarter. Barclays PLC raised its stake in Phillips 66 Partners by 1.9% in the first quarter. Barclays PLC now owns 80,189 shares of the company’s stock worth $4,972,000 after buying an additional 1,506 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Phillips 66 Partners during the first quarter worth approximately $288,000.

About Phillips 66 Partners

Phillips 66 Partners LP 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 charges tariffs and fees for transporting crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States.

5 Day Chart for NYSE:PSXP

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