Vident Investment Advisory LLC grew its position in Phillips 66 Partners LP (NYSE:PSXP) by 24.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,243 shares of the oil and gas company’s stock after acquiring an additional 7,506 shares during the quarter. Vident Investment Advisory LLC’s holdings in Phillips 66 Partners were worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of PSXP. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Phillips 66 Partners by 13.0% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,760 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 1,010 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Phillips 66 Partners by 2,624.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,117 shares of the oil and gas company’s stock worth $41,000 after buying an additional 1,076 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Phillips 66 Partners by 10.3% in the 1st quarter. State of Tennessee Treasury Department now owns 82,269 shares of the oil and gas company’s stock worth $2,997,000 after buying an additional 7,693 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Phillips 66 Partners by 4.8% in the 1st quarter. Copeland Capital Management LLC now owns 105,720 shares of the oil and gas company’s stock valued at $3,852,000 after acquiring an additional 4,875 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Phillips 66 Partners by 47.4% in the first quarter. Parametric Portfolio Associates LLC now owns 360,493 shares of the oil and gas company’s stock worth $13,133,000 after acquiring an additional 115,908 shares in the last quarter. 24.16% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on PSXP shares. Mizuho lowered their price objective on Phillips 66 Partners from $47.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Jefferies Financial Group upgraded Phillips 66 Partners from a “hold” rating to a “buy” rating and lowered their price target for the stock from $43.00 to $36.00 in a research report on Monday, July 20th. Royal Bank of Canada boosted their price objective on shares of Phillips 66 Partners from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Wells Fargo & Co downgraded shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 Partners from $54.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $47.27.
Shares of PSXP stock opened at $27.80 on Friday. The company has a market capitalization of $6.35 billion, a P/E ratio of 7.02 and a beta of 1.33. The company’s 50-day simple moving average is $33.94 and its two-hundred day simple moving average is $44.42. Phillips 66 Partners LP has a one year low of $19.00 and a one year high of $65.22. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.05 and a quick ratio of 0.99.
Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.30. The firm had revenue of $430.00 million during the quarter, compared to analyst estimates of $361.25 million. Phillips 66 Partners had a return on equity of 45.19% and a net margin of 54.94%. Phillips 66 Partners’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. On average, research analysts expect that Phillips 66 Partners LP will post 3.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Friday, July 31st will be issued a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 12.59%. The ex-dividend date of this dividend is Thursday, July 30th. Phillips 66 Partners’s dividend payout ratio is 81.59%.
About Phillips 66 Partners
Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) pipelines, terminals, and other transportation and midstream assets. The company operates pipeline assets in Lake Charles, Sweeny, Wood River, Borger/Ponca City, Billings, and Borger; terminal, rail rack, and storage assets in Louisiana, Texas, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.
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