BP Capital Fund Advisors LLC boosted its holdings in Phillips 66 Partners LP (NYSE:PSXP) by 16.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 218,852 shares of the oil and gas company’s stock after purchasing an additional 30,480 shares during the quarter. Phillips 66 Partners makes up approximately 4.1% of BP Capital Fund Advisors LLC’s holdings, making the stock its 3rd largest position. BP Capital Fund Advisors LLC’s holdings in Phillips 66 Partners were worth $11,457,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Phillips 66 Partners by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock valued at $165,000 after buying an additional 234 shares during the last quarter. Johnson Financial Group LLC purchased a new position in Phillips 66 Partners in the third quarter valued at $217,000. Signature Financial Management Inc. increased its holdings in Phillips 66 Partners by 34.1% in the third quarter. Signature Financial Management Inc. now owns 5,500 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 1,400 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in Phillips 66 Partners in the fourth quarter valued at $310,000. Finally, RiverPoint Capital Management LLC purchased a new position in Phillips 66 Partners in the fourth quarter valued at $314,000. 37.28% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 Partners LP (NYSE:PSXP) opened at $49.14 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 2.06. Phillips 66 Partners LP has a 12 month low of $44.40 and a 12 month high of $56.71. The stock has a market cap of $6,104.13, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40.
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 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 company had revenue of $331.00 million during the quarter, compared to analyst estimates of $316.00 million. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was up 10.7% on a year-over-year basis. equities research analysts forecast that Phillips 66 Partners LP will post 3.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Wednesday, January 31st were paid a $0.678 dividend. This represents a $2.71 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Tuesday, January 30th. 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 firms recently commented on PSXP. Morgan Stanley dropped their target price on Phillips 66 Partners from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Bank of America began coverage on Phillips 66 Partners in a report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered Phillips 66 Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Royal Bank of Canada reissued a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a report on Tuesday, November 7th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $62.00 target price (up previously from $59.00) on shares of Phillips 66 Partners in a report on Sunday, February 4th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Phillips 66 Partners has a consensus rating of “Hold” and an average price target of $58.20.
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About Phillips 66 Partners
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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