JPMorgan Chase & Co. grew its position in Phillips 66 Partners LP (NYSE:PSXP) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,729,228 shares of the oil and gas company’s stock after buying an additional 54,307 shares during the quarter. JPMorgan Chase & Co.’s holdings in Phillips 66 Partners were worth $90,525,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Phillips 66 Partners in the first quarter valued at about $47,000. Holistic Financial Partners acquired a new position in shares of Phillips 66 Partners in the first quarter valued at about $293,000. Beaumont Financial Partners LLC acquired a new position in shares of Phillips 66 Partners in the first quarter valued at about $222,000. CIBC Asset Management Inc acquired a new position in shares of Phillips 66 Partners in the first quarter valued at about $225,000. Finally, Stokes Capital Advisors LLC acquired a new position in shares of Phillips 66 Partners in the first quarter valued at about $233,000. Institutional investors and hedge funds own 42.63% of the company’s stock.

Shares of PSXP opened at $49.15 on Friday. Phillips 66 Partners LP has a 52 week low of $40.76 and a 52 week high of $55.02. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $6.13 billion, a PE ratio of 12.29, a P/E/G ratio of 2.83 and a beta of 1.19.

Phillips 66 Partners (NYSE:PSXP) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Phillips 66 Partners had a return on equity of 47.98% and a net margin of 52.90%. The company had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $366.55 million. During the same quarter in the previous year, the company earned $0.87 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict that Phillips 66 Partners LP will post 4.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were paid a $0.845 dividend. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, April 29th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 6.88%. Phillips 66 Partners’s dividend payout ratio is presently 84.50%.

A number of research analysts have recently weighed in on PSXP shares. Stifel Nicolaus lowered Phillips 66 Partners from a “buy” rating to a “hold” rating and increased their price objective for the company from $50.00 to $52.00 in a report on Monday, February 11th. ValuEngine lowered Phillips 66 Partners from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Jefferies Financial Group lowered Phillips 66 Partners from a “buy” rating to a “hold” rating in a report on Monday, January 28th. Bank of America reissued a “neutral” rating and issued a $53.00 price objective (up from $46.00) on shares of Phillips 66 Partners in a report on Thursday, February 7th. Finally, Zacks Investment Research lowered Phillips 66 Partners from a “buy” rating to a “hold” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.40.

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Phillips 66 Partners Company Profile

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) 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, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.

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

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