A statement released earlier today by Mizuho Securities about Phillips 66 Partners (NYSE:PSXP) bumps the target price to $55.00
- Updated: September 29, 2016
Boasting a price of $47.78, Phillips 66 Partners (NYSE:PSXP) traded -0.81% lower on the day. With the last stock price close down -11.84% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Phillips 66 Partners has recorded a 50-day average of $48.54 and a two hundred day average of $54.19. Volume of trade was down over the average, with 301,983 shares of PSXP changing hands under the typical 442,094
Mizuho Securities bumped up the target of Phillips 66 Partners (NYSE:PSXP) to $55.00 stating a potential upside of 0.15%.
With a total market value of $0, Phillips 66 Partners has price-earnings ratio of 23.16 with a one year low of $46.20 and a one year high of $66.81 .
A total of 9 equity analysts have released a ratings update on PSXP. One equity analyst rating the company a strong buy, six equity analysts rating the company a buy, five equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $73.11.
Brief Synopsis About Phillips 66 Partners (NYSE:PSXP)
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 charges tariffs and fees for transporting 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. The Company's 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, Eagle Ford Gathering System Project, Sand Hills/Southern Hills/Explorer Pipeline joint ventures, Bakken Joint Ventures and Bayou Bridge joint venture. Its Clifton Ridge Crude System is a crude oil pipeline, terminal and storage system located in Sulphur, Louisiana.
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