Phillips 66 Partners LP (NYSE:PSXP) Sentiment Up, Because

June 15, 2018 - By Winifred Garcia

Sentiment for Phillips 66 Partners LP (NYSE:PSXP)

Phillips 66 Partners LP (NYSE:PSXP) institutional sentiment increased to 1.43 in Q1 2018. Its up 0.46, from 0.97 in 2017Q4. The ratio has improved, as 63 investment professionals increased or started new positions, while 44 decreased and sold their equity positions in Phillips 66 Partners LP. The investment professionals in our partner’s database now possess: 45.71 million shares, up from 45.55 million shares in 2017Q4. Also, the number of investment professionals holding Phillips 66 Partners LP in their top 10 positions decreased from 5 to 4 for a decrease of 1. Sold All: 13 Reduced: 31 Increased: 44 New Position: 19.

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids pipelines and terminals, as well as other transportation midstream assets. The company has market cap of $6.26 billion. It 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, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana. It has a 20.31 P/E ratio. Phillips 66 Partners GP LLC operates as the general partner of Phillips 66 Partners LP.

The stock decreased 2.50% or $1.32 during the last trading session, reaching $51.43. About 214,057 shares traded. Phillips 66 Partners LP (NYSE:PSXP) has declined 1.78% since June 15, 2017 and is downtrending. It has underperformed by 14.35% the S&P500.

Analysts await Phillips 66 Partners LP (NYSE:PSXP) to report earnings on August, 7. They expect $0.86 earnings per share, up 40.98 % or $0.25 from last year’s $0.61 per share. PSXP’s profit will be $104.71 million for 14.95 P/E if the $0.86 EPS becomes a reality. After $0.87 actual earnings per share reported by Phillips 66 Partners LP for the previous quarter, Wall Street now forecasts -1.15 % negative EPS growth.

Samson Capital Management Llc holds 6.25% of its portfolio in Phillips 66 Partners LP for 105,875 shares. Tortoise Capital Advisors L.L.C. owns 9.74 million shares or 3.55% of their US portfolio. Moreover, Chickasaw Capital Management Llc has 3.33% invested in the company for 2.93 million shares. The Texas-based Rr Advisors Llc has invested 2.96% in the stock. Spirit Of America Management Corp Ny, a New York-based fund reported 444,239 shares.

Phillips 66 Partners LP (NYSE:PSXP) Ratings Coverage

Ratings analysis reveals 55% of Phillips 66 Partners’s analysts are positive. Out of 11 Wall Street analysts rating Phillips 66 Partners, 6 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $5000 while the high is $64.0. The stock’s average target of $56.50 is 9.86% above today’s ($51.43) share price. PSXP was included in 14 notes of analysts from December 18, 2017. Stifel Nicolaus maintained it with “Buy” rating and $62.0 target in Sunday, February 4 report. On Wednesday, January 17 the stock rating was downgraded by Barclays Capital to “Equal-Weight”. Goldman Sachs upgraded Phillips 66 Partners LP (NYSE:PSXP) on Monday, December 18 to “Buy” rating. Barclays Capital maintained Phillips 66 Partners LP (NYSE:PSXP) on Tuesday, April 17 with “Equal-Weight” rating. On Monday, January 29 the stock rating was maintained by Scotia Capital with “Buy”. The stock has “Overweight” rating by JP Morgan on Tuesday, March 13. The stock has “Hold” rating by Jefferies on Tuesday, April 24. The firm has “Buy” rating given on Tuesday, January 16 by RBC Capital Markets. The stock of Phillips 66 Partners LP (NYSE:PSXP) earned “Equal-Weight” rating by Barclays Capital on Monday, February 5. The firm earned “Buy” rating on Monday, April 30 by Stifel Nicolaus.

More notable recent Phillips 66 Partners LP (NYSE:PSXP) news were published by: Seekingalpha.com which released: “Q1’18 MLP Distribution Recap: Several Growers Overshadowed By 2 Cuts” on May 23, 2018, also Businesswire.com with their article: “Phillips 66 to Expand Sweeny Hub with 300000 BPD of New Fractionation Capacity” published on June 13, 2018, Seekingalpha.com published: “Will Phillips 66 Roll-Up Its MLP?” on May 20, 2018. More interesting news about Phillips 66 Partners LP (NYSE:PSXP) were released by: Fool.com and their article: “3 Dividend Stocks That Give Their Investors Several Raises Each Year” published on June 09, 2018 as well as Seekingalpha.com‘s news article titled: “Phillips 66 Is Cashing In On The Oil Spread” with publication date: May 21, 2018.

Phillips 66 Partners LP (NYSE:PSXP) Institutional Positions Chart

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