Phillips 66 Partners LP (PSXP) Holdings Increased by Duff & Phelps Investment Management Co.

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Duff & Phelps Investment Management Co. raised its holdings in shares of Phillips 66 Partners LP (NYSE:PSXP) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 517,219 shares of the oil and gas company’s stock after purchasing an additional 500 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.42% of Phillips 66 Partners worth $21,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Arlington Partners LLC purchased a new position in shares of Phillips 66 Partners in the 4th quarter worth $113,000. Ballentine Partners LLC purchased a new position in shares of Phillips 66 Partners in the 3rd quarter worth $205,000. Jane Street Group LLC purchased a new position in shares of Phillips 66 Partners in the 2nd quarter worth $214,000. American Century Companies Inc. purchased a new position in shares of Phillips 66 Partners in the 3rd quarter worth $219,000. Finally, Clinton Group Inc. purchased a new position in shares of Phillips 66 Partners in the 3rd quarter worth $411,000. Institutional investors and hedge funds own 43.76% of the company’s stock.

In related news, Director Mark Haney bought 1,392 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The shares were bought at an average cost of $49.31 per share, with a total value of $68,639.52. Following the acquisition, the director now owns 28,000 shares in the company, valued at $1,380,680. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph O’toole bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The stock was bought at an average cost of $46.96 per share, for a total transaction of $469,600.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $469,600. The disclosure for this purchase can be found here.

A number of research firms have recently issued reports on PSXP. ValuEngine upgraded Phillips 66 Partners from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Raymond James raised their price target on Phillips 66 Partners from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, October 29th. Wells Fargo & Co dropped their price target on Phillips 66 Partners from $57.00 to $55.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 31st. Jefferies Financial Group downgraded Phillips 66 Partners from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. Finally, Bank of America restated a “neutral” rating and issued a $53.00 price target (up from $46.00) on shares of Phillips 66 Partners in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Phillips 66 Partners currently has an average rating of “Hold” and an average target price of $57.54.

Shares of Phillips 66 Partners stock opened at $49.15 on Friday. Phillips 66 Partners LP has a one year low of $40.76 and a one year high of $55.00. The firm has a market capitalization of $6.02 billion, a P/E ratio of 18.98, a P/E/G ratio of 1.69 and a beta of 1.34. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 1.72.

Phillips 66 Partners (NYSE:PSXP) last announced its earnings results on Friday, February 8th. The oil and gas company reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.01). Phillips 66 Partners had a return on equity of 47.66% and a net margin of 51.76%. The company had revenue of $393.00 million during the quarter, compared to the consensus estimate of $375.17 million. During the same period in the prior year, the business posted $0.83 earnings per share. Phillips 66 Partners’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, analysts forecast that Phillips 66 Partners LP will post 4.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 13th. Investors of record on Friday, February 1st will be issued a $0.835 dividend. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.79. This represents a $3.34 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date of this dividend is Thursday, January 31st. Phillips 66 Partners’s dividend payout ratio (DPR) is currently 128.96%.

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

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