Brokerage Firm Rating Update on Phillips 66 Partners LP (PSXP)

Phillips 66 Partners LP (PSXP) : Zacks Investment Research ranks Phillips 66 Partners LP (PSXP) as 3, which is a Hold recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 4 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 9 research analysts is 2.06, which indicates as a Buy.

Phillips 66 Partners LP (PSXP) : The highest short term price target forecast on Phillips 66 Partners LP (PSXP) is $75 and the lowest target price is $54. A total of 9 equity analysts are currently covering the company. The average price of all the analysts is $63.11 with a standard deviation of $5.71.


For the current week, the company shares have a recommendation consensus of Buy. Also, Goldman Sachs initiates coverage on Phillips 66 Partners LP (NYSE:PSXP). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm announces the price target at $52 per share. The rating by the firm was issued on August 24, 2016.

Phillips 66 Partners LP (NYSE:PSXP): The stock opened at $49.88 and touched an intraday high of $50.09 on Wednesday. During the day, the stock corrected to an intraday low of $49.17, however, the bulls stepped in and pushed the price higher to close in the green at $49.81 with a gain of 0.24% for the day. The total traded volume for the day was 724,168. The stock had closed at $49.69 in the previous trading session.

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 20,938,498 common units and 35,217,112 subordinated units, representing an aggregate 73.3% limited partner interest, and a 100% interest in Phillips 66 Partners GP LLC (the Companys General Partner).

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