Phillips 66 Partners LP (PSXP) Plans Special Dividend of $0.15
Phillips 66 Partners LP (NASDAQ:PSXP) announced a special dividend on Thursday, October 24th, StockRatingsNetwork.com reports. Investors of record on Monday, November 4th will be paid a dividend of $0.1548 per share on Wednesday, November 13th. The ex-dividend date is Thursday, October 31st.
A number of analysts have recently weighed in on PSXP shares. Analysts at Citigroup Inc. initiated coverage on shares of Phillips 66 Partners LP in a research note to investors on Wednesday, September 18th. They set a “neutral” rating on the stock. On a related note, analysts at Merrill Lynch initiated coverage on shares of Phillips 66 Partners LP in a research note to investors on Monday, August 19th. They set a “neutral” rating on the stock. Finally, analysts at Barclays initiated coverage on shares of Phillips 66 Partners LP in a research note to investors on Monday, August 19th. They set an “equal weight” rating and a $34.00 price target on the stock. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.00.
Phillips 66 Partners LP (NASDAQ:PSXP) traded up 0.95% on Thursday, hitting $32.92. 95,927 shares of the company’s stock traded hands. Phillips 66 Partners LP has a 52 week low of $28.10 and a 52 week high of $35.92. The stock’s 50-day moving average is $31.70 and its 200-day moving average is $31.59. The company has a market cap of $2.319 billion and a P/E ratio of 46.06.
Phillips 66 Partners LP owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum product and natural gas liquids (NASDAQ:PSXP) pipelines and terminals and other transportation and midstream assets.
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