Phillips 66 Partners LP (NYSE:PSXP) Shares Bought by Diversified Trust Co

Diversified Trust Co boosted its stake in Phillips 66 Partners LP (NYSE:PSXP) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,029 shares of the oil and gas company’s stock after buying an additional 382 shares during the period. Diversified Trust Co’s holdings in Phillips 66 Partners were worth $1,188,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Chickasaw Capital Management LLC raised its stake in Phillips 66 Partners by 3.8% in the first quarter. Chickasaw Capital Management LLC now owns 3,029,624 shares of the oil and gas company’s stock valued at $155,571,000 after buying an additional 110,052 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Phillips 66 Partners by 12.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,448,247 shares of the oil and gas company’s stock valued at $125,701,000 after buying an additional 275,500 shares during the period. JPMorgan Chase & Co. boosted its stake in Phillips 66 Partners by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 746,582 shares of the oil and gas company’s stock valued at $38,337,000 after buying an additional 26,058 shares during the period. Brookfield Asset Management Inc. boosted its stake in Phillips 66 Partners by 93.3% in the first quarter. Brookfield Asset Management Inc. now owns 549,600 shares of the oil and gas company’s stock valued at $28,222,000 after buying an additional 265,300 shares during the period. Finally, Bank of America Corp DE boosted its stake in Phillips 66 Partners by 102.1% in the first quarter. Bank of America Corp DE now owns 470,956 shares of the oil and gas company’s stock valued at $24,184,000 after buying an additional 237,972 shares during the period. 42.14% of the stock is owned by institutional investors.

Shares of Phillips 66 Partners LP (NYSE:PSXP) traded down 1.31% during trading on Friday, reaching $46.62. 159,533 shares of the company’s stock were exchanged. The stock has a market cap of $5.15 billion, a PE ratio of 19.22 and a beta of 1.51. The stock’s 50 day moving average price is $49.47 and its 200-day moving average price is $51.59. Phillips 66 Partners LP has a 52-week low of $42.47 and a 52-week high of $58.00.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.11. Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The firm had revenue of $234 million during the quarter, compared to the consensus estimate of $235.69 million. During the same period in the prior year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts forecast that Phillips 66 Partners LP will post $2.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, July 31st were paid a $0.615 dividend. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.59. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend was Thursday, July 27th. Phillips 66 Partners’s dividend payout ratio is currently 101.23%.

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Several analysts have recently commented on PSXP shares. BidaskClub raised shares of Phillips 66 Partners from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Scotiabank set a $61.00 price target on shares of Phillips 66 Partners and gave the company a “buy” rating in a research note on Friday, July 21st. Barclays PLC raised shares of Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price target on the stock in a research note on Tuesday, July 18th. Citigroup Inc. decreased their price target on shares of Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, July 17th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $63.00 price target on shares of Phillips 66 Partners in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.44.

Phillips 66 Partners Company Profile

Institutional Ownership by Quarter for Phillips 66 Partners (NYSE:PSXP)

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