Brokerages forecast that Phillips 66 Partners LP (NYSE:PSXP) will announce earnings per share (EPS) of $1.04 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Phillips 66 Partners’ earnings, with the lowest EPS estimate coming in at $0.78 and the highest estimate coming in at $1.33. Phillips 66 Partners posted earnings of $0.87 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 19.5%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, April 30th.

According to Zacks, analysts expect that Phillips 66 Partners will report full year earnings of $4.41 per share for the current year, with EPS estimates ranging from $3.31 to $5.17. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.84 per share, with EPS estimates ranging from $3.91 to $6.00. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings results on Friday, February 8th. The oil and gas company reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.01). The company had revenue of $393.00 million during the quarter, compared to the consensus estimate of $375.17 million. Phillips 66 Partners had a return on equity of 48.73% and a net margin of 53.57%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share.

PSXP has been the topic of a number of research analyst reports. Jefferies Financial Group cut shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a report on Monday, January 28th. ValuEngine upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Bank of America reiterated a “neutral” rating and set a $53.00 target price (up from $46.00) on shares of Phillips 66 Partners in a report on Thursday, February 7th. Stifel Nicolaus cut shares of Phillips 66 Partners from a “buy” rating to a “hold” rating and increased their target price for the stock from $50.00 to $52.00 in a report on Monday, February 11th. Finally, Credit Suisse Group dropped their target price on shares of Phillips 66 Partners from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, February 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $56.55.

Shares of NYSE PSXP traded down $0.26 during mid-day trading on Monday, reaching $50.79. The company had a trading volume of 215,800 shares, compared to its average volume of 349,031. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of 1.70. The stock has a market cap of $6.33 billion, a PE ratio of 12.70, a PEG ratio of 1.66 and a beta of 1.23. Phillips 66 Partners has a 52 week low of $40.76 and a 52 week high of $55.02.

In other news, Director Mark Haney purchased 1,392 shares of the stock in a transaction dated Wednesday, January 16th. The shares were acquired at an average cost of $49.31 per share, for a total transaction of $68,639.52. Following the acquisition, the director now owns 28,000 shares of the company’s stock, valued at $1,380,680. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Several large investors have recently added to or reduced their stakes in PSXP. JPMorgan Chase & Co. boosted its holdings in shares of Phillips 66 Partners by 28.2% in 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 buying an additional 381,955 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Phillips 66 Partners by 9.7% in 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 purchasing an additional 1,038,327 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Phillips 66 Partners by 36.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,939 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 2,942 shares during the last quarter. BlackRock Inc. raised its position in shares of Phillips 66 Partners by 22.5% in the 3rd quarter. BlackRock Inc. now owns 211,413 shares of the oil and gas company’s stock valued at $10,812,000 after purchasing an additional 38,797 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Phillips 66 Partners in the 3rd quarter valued at approximately $429,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

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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