Phillips 66 Partners (PSXP) Getting Somewhat Positive News Coverage, Analysis Finds
News headlines about Phillips 66 Partners (NYSE:PSXP) have trended somewhat positive this week, according to Accern Sentiment. The research group identifies positive and negative news coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Phillips 66 Partners earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned press coverage about the oil and gas company an impact score of 46.6275461046473 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
PSXP has been the subject of several analyst reports. Morgan Stanley lowered their target price on shares of Phillips 66 Partners from $56.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 17th. Goldman Sachs Group upgraded shares of Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, December 18th. Credit Suisse Group initiated coverage on shares of Phillips 66 Partners in a report on Thursday, January 4th. They issued a “neutral” rating and a $52.00 target price for the company. Bank of America assumed coverage on shares of Phillips 66 Partners in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Finally, Barclays downgraded shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $59.00 price objective for the company. in a report on Wednesday, January 17th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Phillips 66 Partners currently has an average rating of “Hold” and a consensus price target of $58.20.
Phillips 66 Partners (PSXP) traded up $0.57 during midday trading on Friday, reaching $50.80. 225,740 shares of the company were exchanged, compared to its average volume of 292,160. Phillips 66 Partners has a 1-year low of $44.40 and a 1-year high of $56.48. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.71 and a quick ratio of 1.64. The stock has a market capitalization of $6,106.56, a P/E ratio of 19.92, a PEG ratio of 1.77 and a beta of 1.41.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Wednesday, January 31st were issued a dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend was Tuesday, January 30th. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.65. Phillips 66 Partners’s dividend payout ratio (DPR) is 106.27%.
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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.
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