SG Americas Securities LLC decreased its stake in shares of Phillips 66 Partners LP (NYSE:PSXP) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,421 shares of the oil and gas company’s stock after selling 2,416 shares during the quarter. SG Americas Securities LLC’s holdings in Phillips 66 Partners were worth $1,300,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in PSXP. Tortoise Capital Advisors L.L.C. boosted its position in shares of Phillips 66 Partners by 9.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,655,570 shares of the oil and gas company’s stock worth $544,074,000 after acquiring an additional 920,338 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Phillips 66 Partners by 8.0% during the 3rd quarter. Alps Advisors Inc. now owns 4,769,284 shares of the oil and gas company’s stock worth $243,901,000 after acquiring an additional 354,764 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Phillips 66 Partners by 94.1% during the 2nd quarter. Bank of America Corp DE now owns 461,807 shares of the oil and gas company’s stock worth $23,580,000 after acquiring an additional 223,853 shares in the last quarter. Global X Management Co LLC boosted its position in shares of Phillips 66 Partners by 17.8% during the 2nd quarter. Global X Management Co LLC now owns 888,563 shares of the oil and gas company’s stock worth $45,370,000 after acquiring an additional 134,476 shares in the last quarter. Finally, Cadence Capital Management LLC boosted its position in shares of Phillips 66 Partners by 39.8% during the 2nd quarter. Cadence Capital Management LLC now owns 265,323 shares of the oil and gas company’s stock worth $13,547,000 after acquiring an additional 75,478 shares in the last quarter. 44.13% of the stock is owned by institutional investors and hedge funds.
In related news, Director Joseph O’toole acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was bought at an average cost of $46.96 per share, with a total value of $469,600.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $469,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE PSXP opened at $45.87 on Friday. Phillips 66 Partners LP has a 52-week low of $44.94 and a 52-week high of $56.48. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $5.67 billion, a P/E ratio of 12.24, a PEG ratio of 1.64 and a beta of 1.27.
Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Friday, October 26th. The oil and gas company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.18. Phillips 66 Partners had a return on equity of 47.66% and a net margin of 51.76%. The company had revenue of $384.00 million during the quarter, compared to analysts’ expectations of $362.44 million. During the same period last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts forecast that Phillips 66 Partners LP will post 4.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Wednesday, October 31st were given a dividend of $0.792 per share. This represents a $3.17 dividend on an annualized basis and a yield of 6.91%. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.75. The ex-dividend date was Tuesday, October 30th. Phillips 66 Partners’s dividend payout ratio (DPR) is presently 122.39%.
A number of brokerages recently issued reports on PSXP. ValuEngine cut Phillips 66 Partners from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Wells Fargo & Co decreased their target price on Phillips 66 Partners from $57.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, October 31st. Raymond James upped their target price on Phillips 66 Partners from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, October 29th. Credit Suisse Group began coverage on Phillips 66 Partners in a research report on Thursday, October 11th. They issued an “outperform” rating and a $66.00 target price for the company. Finally, Morgan Stanley reissued an “underweight” rating and issued a $55.00 target price on shares of Phillips 66 Partners in a research report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.19.
About Phillips 66 Partners
Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids 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, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana.
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