Phillips 66 Partners LP (PSXP) Releases Earnings Results, Misses Expectations By $-0.11 EPS

Phillips 66 Partners LP (PSXP) reported quarterly earnings results on Friday, Apr-29-2016. The company reported $0.44 earnings per share for the quarter, missing the analyst consensus estimate by $-0.11. Analysts had a consensus of $0.55. The company posted revenue of $103.30 million in the period, compared to analysts expectations of $103.51 million. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Phillips 66 Partners LP. Phillips 66 Partners LP was Initiated by Raymond James to “Outperform” on Apr 21, 2016. Phillips 66 Partners LP was Initiated by Morgan Stanley to “Overweight” on Feb 25, 2016.

Phillips 66 Partners LP opened for trading at $59.52 and hit $62.66 on the upside on Wednesday, eventually ending the session at $60.92, with a gain of 2.54% or 1.51 points. The heightened volatility saw the trading volume jump to 6,57,626 shares. Company has a market cap of $5,025 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 Company’s 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 Company’s General Partner).

Phillips 66 Partners LP

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