Tortoise Capital Advisors L.L.C. reduced its holdings in Phillips 66 Partners LP (NYSE:PSXP) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,669,175 shares of the oil and gas company’s stock after selling 389,473 shares during the period. Phillips 66 Partners comprises about 5.0% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 7th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 5.57% of Phillips 66 Partners worth $780,928,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in PSXP. Pacer Advisors Inc. acquired a new stake in Phillips 66 Partners in the 4th quarter valued at approximately $85,000. Evoke Wealth LLC acquired a new stake in Phillips 66 Partners during the third quarter worth approximately $92,000. Arlington Partners LLC acquired a new stake in Phillips 66 Partners during the fourth quarter worth approximately $165,000. Vestcor Investment Management Corp acquired a new stake in Phillips 66 Partners during the fourth quarter worth approximately $195,000. Finally, Spreng Capital Management Inc. acquired a new stake in Phillips 66 Partners during the fourth quarter worth approximately $234,000. 26.01% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on PSXP shares. Jefferies Financial Group raised Phillips 66 Partners from a “hold” rating to a “buy” rating and reduced their price target for the stock from $59.00 to $41.00 in a research report on Thursday. Mizuho decreased their price target on Phillips 66 Partners from $65.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada increased their price target on Phillips 66 Partners from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. ValuEngine upgraded Phillips 66 Partners from a “sell” rating to a “hold” rating in a report on Friday, March 20th. Finally, Raymond James decreased their price target on Phillips 66 Partners from $67.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, March 12th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $56.78.
In other news, Director Phillip David Bairrington acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $32.50 per share, for a total transaction of $487,500.00. Following the transaction, the director now directly owns 27,253 shares of the company’s stock, valued at $885,722.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark Haney acquired 1,640 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were purchased at an average price of $62.17 per share, for a total transaction of $101,958.80. Following the completion of the transaction, the director now directly owns 30,990 shares in the company, valued at $1,926,648.30. The disclosure for this purchase can be found here.
Shares of PSXP traded up $0.75 during trading hours on Thursday, hitting $36.81. The stock had a trading volume of 870,988 shares, compared to its average volume of 753,408. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.08 and a quick ratio of 2.02. The firm has a 50 day simple moving average of $50.15 and a 200-day simple moving average of $55.96. The firm has a market capitalization of $7.38 billion, a P/E ratio of 9.09 and a beta of 1.02. Phillips 66 Partners LP has a 1-year low of $19.00 and a 1-year high of $65.22.
Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Phillips 66 Partners had a net margin of 52.65% and a return on equity of 45.49%. The company had revenue of $432.00 million for the quarter, compared to analysts’ expectations of $419.09 million. During the same quarter in the previous year, the firm posted $1.09 EPS. Equities analysts predict that Phillips 66 Partners LP will post 4.31 EPS for the current fiscal year.
Phillips 66 Partners Profile
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.
Featured Article: Overbought
Want to see what other hedge funds are holding PSXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 Partners LP (NYSE:PSXP).
Receive News & Ratings for Phillips 66 Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 Partners and related companies with MarketBeat.com's FREE daily email newsletter.