Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Phillips 66 Partners LP (NYSE:PSXP) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 507,732 shares of the company’s stock after buying an additional 110,577 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.49% of Phillips 66 Partners worth $24,696,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Advisory Research Inc. raised its stake in shares of Phillips 66 Partners by 10.9% in the second quarter. Advisory Research Inc. now owns 925,114 shares of the company’s stock valued at $51,686,000 after buying an additional 90,621 shares in the last quarter. Balentine LLC acquired a new stake in shares of Phillips 66 Partners during the second quarter valued at approximately $173,000. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of Phillips 66 Partners during the second quarter valued at approximately $9,132,000. Eagle Global Advisors LLC acquired a new stake in shares of Phillips 66 Partners during the second quarter valued at approximately $8,380,000. Finally, Atlantic Trust Group LLC acquired a new stake in shares of Phillips 66 Partners during the second quarter valued at approximately $19,924,000. Hedge funds and other institutional investors own 39.99% of the company’s stock.
Phillips 66 Partners LP (NYSE:PSXP) traded up 0.67% during midday trading on Friday, reaching $55.87. The company had a trading volume of 192,326 shares. The stock has a market capitalization of $5.77 billion, a PE ratio of 25.46 and a beta of 1.56. The firm’s 50 day moving average is $52.29 and its 200 day moving average is $48.63. Phillips 66 Partners LP has a 1-year low of $42.47 and a 1-year high of $66.81.
Phillips 66 Partners (NYSE:PSXP) last released its earnings results on Friday, February 3rd. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by $0.11. Phillips 66 Partners had a net margin of 47.59% and a return on equity of 20.92%. The business had revenue of $228 million for the quarter, compared to analyst estimates of $197.26 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 121.8% on a year-over-year basis. On average, equities analysts anticipate that Phillips 66 Partners LP will post $3.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Shareholders of record on Tuesday, January 31st will be given a dividend of $0.558 per share. The ex-dividend date is Friday, January 27th. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.53. This represents a $2.23 dividend on an annualized basis and a yield of 3.99%. Phillips 66 Partners’s dividend payout ratio is presently 102.76%.
PSXP has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Phillips 66 Partners from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday. Barclays PLC raised their target price on Phillips 66 Partners from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Scotiabank restated a “buy” rating and issued a $61.00 target price on shares of Phillips 66 Partners in a research note on Monday. Cowen and Company upgraded Phillips 66 Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 25th. Finally, Citigroup Inc. upgraded Phillips 66 Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $62.64.
In other Phillips 66 Partners news, President Timothy Garth Taylor bought 5,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were bought at an average cost of $43.53 per share, for a total transaction of $217,650.00. Following the transaction, the president now owns 55,000 shares in the company, valued at approximately $2,394,150. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
About Phillips 66 Partners
Phillips 66 Partners LP 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 charges tariffs and fees for transporting crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States.
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