Center Coast Capital Advisors LP reduced its holdings in shares of Phillips 66 Partners LP (NYSE:PSXP) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,343,849 shares of the oil and gas company’s stock after selling 3,896 shares during the quarter. Phillips 66 Partners makes up approximately 1.8% of Center Coast Capital Advisors LP’s holdings, making the stock its 18th biggest position. Center Coast Capital Advisors LP owned approximately 1.22% of Phillips 66 Partners worth $70,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. CNH Partners LLC grew its stake in shares of Phillips 66 Partners by 2.4% during the 2nd quarter. CNH Partners LLC now owns 8,445 shares of the oil and gas company’s stock worth $417,000 after acquiring an additional 200 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Phillips 66 Partners by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock worth $165,000 after acquiring an additional 234 shares in the last quarter. Keybank National Association OH grew its stake in shares of Phillips 66 Partners by 5.9% during the 2nd quarter. Keybank National Association OH now owns 5,105 shares of the oil and gas company’s stock worth $252,000 after acquiring an additional 285 shares in the last quarter. ELCO Management Co. LLC grew its stake in shares of Phillips 66 Partners by 5.1% during the 2nd quarter. ELCO Management Co. LLC now owns 6,235 shares of the oil and gas company’s stock worth $308,000 after acquiring an additional 305 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Phillips 66 Partners by 1.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 25,245 shares of the oil and gas company’s stock worth $1,248,000 after acquiring an additional 330 shares in the last quarter. 36.89% of the stock is owned by institutional investors.

Phillips 66 Partners LP (NYSE PSXP) traded down $0.61 during mid-day trading on Tuesday, reaching $47.53. 340,400 shares of the company’s stock were exchanged, compared to its average volume of 287,493. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.56 and a current ratio of 0.64. Phillips 66 Partners LP has a 1 year low of $43.23 and a 1 year high of $58.00. The company has a market capitalization of $5,360.00, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.53 and a beta of 1.52.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). Phillips 66 Partners had a return on equity of 23.56% and a net margin of 42.19%. The company had revenue of $245.00 million for the quarter, compared to the consensus estimate of $236.18 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 69.8% compared to the same quarter last year. research analysts expect that Phillips 66 Partners LP will post 2.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were given a dividend of $0.646 per share. This represents a $2.58 dividend on an annualized basis and a yield of 5.44%. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, October 30th. Phillips 66 Partners’s payout ratio is 109.32%.

Several research firms recently weighed in on PSXP. Royal Bank Of Canada reissued a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a research note on Tuesday, November 7th. BidaskClub raised shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Barclays PLC decreased their target price on shares of Phillips 66 Partners from $62.00 to $59.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Stifel Nicolaus decreased their target price on shares of Phillips 66 Partners from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Finally, Mizuho set a $59.00 target price on shares of Phillips 66 Partners and gave the company a “buy” rating in a research note on Sunday, October 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $59.38.

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Phillips 66 Partners Company Profile

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

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