Parkside Financial Bank & Trust raised its position in Phillips 66 Partners LP (NYSE:PSXP) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,245 shares of the oil and gas company’s stock after buying an additional 330 shares during the period. Parkside Financial Bank & Trust’s holdings in Phillips 66 Partners were worth $1,248,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Kayne Anderson Capital Advisors LP raised 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 worth $125,701,000 after buying an additional 275,500 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in Phillips 66 Partners during the first quarter valued at approximately $159,000. Bank of New York Mellon Corp raised its stake in Phillips 66 Partners by 408.3% in the first quarter. Bank of New York Mellon Corp now owns 23,798 shares of the oil and gas company’s stock valued at $1,221,000 after buying an additional 19,116 shares during the period. First Trust Advisors LP raised its stake in Phillips 66 Partners by 8.3% in the first quarter. First Trust Advisors LP now owns 117,353 shares of the oil and gas company’s stock valued at $6,026,000 after buying an additional 8,965 shares during the period. Finally, Goodwin Daniel L purchased a new stake in Phillips 66 Partners during the first quarter valued at approximately $513,000. Institutional investors own 42.22% of the company’s stock.
Phillips 66 Partners LP (NYSE PSXP) opened at 46.53 on Friday. Phillips 66 Partners LP has a 52-week low of $42.47 and a 52-week high of $58.00. The stock’s 50 day moving average is $49.07 and its 200-day moving average is $51.27. The company has a market capitalization of $5.14 billion, a P/E ratio of 19.19 and a beta of 1.51.
Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 earnings per share for the quarter, missing the 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 company had revenue of $234 million for the quarter, compared to analysts’ expectations of $235.69 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Analysts predict that Phillips 66 Partners LP will post $2.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, July 31st were issued a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 5.29%. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.59. The ex-dividend date was Thursday, July 27th. Phillips 66 Partners’s payout ratio is presently 101.23%.
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Several equities research analysts have commented on the stock. Barclays PLC upgraded shares of Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price objective for the company in a research note on Tuesday, July 18th. Stifel Nicolaus set a $63.00 price objective on shares of Phillips 66 Partners and gave the company a “buy” rating in a research note on Saturday, June 24th. Citigroup Inc. decreased their price objective on shares of Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, July 17th. BidaskClub lowered shares of Phillips 66 Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 15th. Finally, Scotiabank set a $61.00 price objective on shares of Phillips 66 Partners and gave the company a “buy” rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $56.44.
About Phillips 66 Partners
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