NBW Capital LLC lessened its stake in Phillips 66 Partners LP (NYSE:PSXP) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,401 shares of the oil and gas company’s stock after selling 6,406 shares during the quarter. Phillips 66 Partners comprises 2.1% of NBW Capital LLC’s investment portfolio, making the stock its 17th biggest position. NBW Capital LLC owned 0.12% of Phillips 66 Partners worth $7,873,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of PSXP. Alps Advisors Inc. raised its stake in Phillips 66 Partners by 2.4% during the fourth quarter. Alps Advisors Inc. now owns 3,868,700 shares of the oil and gas company’s stock worth $202,526,000 after acquiring an additional 89,611 shares in the last quarter. First Reserve GP XIII Ltd acquired a new position in Phillips 66 Partners during the fourth quarter worth about $165,013,000. Kayne Anderson Capital Advisors LP raised its stake in Phillips 66 Partners by 7.8% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,444,471 shares of the oil and gas company’s stock worth $127,954,000 after acquiring an additional 176,610 shares in the last quarter. American International Group Inc. acquired a new position in Phillips 66 Partners during the fourth quarter worth about $2,117,000. Finally, Center Coast Capital Advisors LP raised its stake in Phillips 66 Partners by 16.9% during the fourth quarter. Center Coast Capital Advisors LP now owns 1,570,473 shares of the oil and gas company’s stock worth $82,214,000 after acquiring an additional 226,624 shares in the last quarter. 41.14% of the stock is owned by institutional investors and hedge funds.
Phillips 66 Partners LP (NYSE PSXP) opened at $50.80 on Monday. Phillips 66 Partners LP has a 52 week low of $44.40 and a 52 week high of $56.48. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $6,175.86, a P/E ratio of 19.92, a PEG ratio of 1.79 and a beta of 1.41.
Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.04). Phillips 66 Partners had a net margin of 44.16% and a return on equity of 27.99%. The firm had revenue of $331.00 million during the quarter, compared to analyst estimates of $316.00 million. During the same period in the prior year, the company earned $0.65 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. analysts expect that Phillips 66 Partners LP will post 3.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Wednesday, January 31st were paid a $0.678 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $2.71 annualized dividend and a dividend yield of 5.34%. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.65. Phillips 66 Partners’s dividend payout ratio is currently 106.27%.
Several research analysts have commented on PSXP shares. Bank of America started coverage on Phillips 66 Partners in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. Zacks Investment Research raised Phillips 66 Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Morgan Stanley downgraded Phillips 66 Partners from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 11th. They noted that the move was a valuation call. Scotiabank reissued a “buy” rating and set a $60.00 target price on shares of Phillips 66 Partners in a research note on Monday, January 29th. Finally, Barclays downgraded Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $59.00 target price for the company. in a research note on Wednesday, January 17th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $58.20.
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Phillips 66 Partners Company Profile
Phillips 66 Partners LP (Phillips 66) 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 systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.
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