Phillips 66 Partners LP (PSXP) was Initiated by Raymond James to “Outperform”. Raymond James advised their investors in a research report released on Apr 21, 2016.
Many Wall Street Analysts have commented on Phillips 66 Partners LP. Phillips 66 Partners LP was Initiated by Morgan Stanley to “Overweight” on Feb 25, 2016.
On the company’s financial health, Phillips 66 Partners LP reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jan 29, 2016. Analyst had a consensus of $0.49. The company had revenue of $102.80 million for the quarter, compared to analysts expectations of $94.80 million. The company’s revenue was up 58.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.
Phillips 66 Partners LP opened for trading at $58.45 and hit $60.57 on the upside on Monday, eventually ending the session at $59.33, with a gain of 1.44% or 0.84 points. The heightened volatility saw the trading volume jump to 6,26,029 shares. Company has a market cap of $4,894 M.
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 Companys assets consist of 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. Its assets also consists of systems which include Clifton Ridge Crude System Sweeny to Pasadena Products System Hartford Connector Products System Gold Line Products System Medford Spheres Bayway Rail Rack Ferndale Rail Rack Cross-Channel Connector Project Palermo Rail Terminal Project and Eagle Ford Gathering System Project. Phillips 66 through Phillips 66 Company owns 20938498 common units and 35217112 subordinated units representing an aggregate 73.3% limited partner interest and a 100% interest in Phillips 66 Partners GP LLC (the Companys General Partner).