Conning Inc. increased its stake in Phillips 66 Partners LP (NYSE:PSXP) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,155 shares of the oil and gas company’s stock after acquiring an additional 439 shares during the period. Conning Inc.’s holdings in Phillips 66 Partners were worth $1,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC acquired a new position in Phillips 66 Partners during the first quarter valued at approximately $105,000. Wedbush Securities Inc. acquired a new position in Phillips 66 Partners during the first quarter valued at approximately $270,000. Toth Financial Advisory Corp lifted its position in Phillips 66 Partners by 479.5% during the first quarter. Toth Financial Advisory Corp now owns 10,767 shares of the oil and gas company’s stock valued at $564,000 after buying an additional 8,909 shares in the last quarter. Deutsche Bank AG lifted its position in Phillips 66 Partners by 15.5% during the fourth quarter. Deutsche Bank AG now owns 138,150 shares of the oil and gas company’s stock valued at $5,817,000 after buying an additional 18,562 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Phillips 66 Partners by 59.3% during the fourth quarter. American Century Companies Inc. now owns 6,838 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 2,546 shares during the period. 42.79% of the stock is currently owned by institutional investors and hedge funds.

PSXP opened at $51.10 on Tuesday. The company has a market cap of $6.19 billion, a PE ratio of 12.78, a PEG ratio of 1.60 and a beta of 1.23. Phillips 66 Partners LP has a 52-week low of $40.76 and a 52-week high of $55.02. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.43 and a current ratio of 0.48.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Friday, February 8th. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). The firm had revenue of $393.00 million for the quarter, compared to analysts’ expectations of $375.17 million. Phillips 66 Partners had a net margin of 53.57% and a return on equity of 48.73%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 EPS. Equities research analysts predict that Phillips 66 Partners LP will post 4.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.845 dividend. This represents a $3.38 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date is Monday, April 29th. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.84. Phillips 66 Partners’s payout ratio is 83.50%.

PSXP has been the topic of a number of analyst reports. Jefferies Financial Group lowered shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. ValuEngine upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Bank of America reiterated a “neutral” rating and set a $53.00 price objective (up previously from $46.00) on shares of Phillips 66 Partners in a research note on Thursday, February 7th. Stifel Nicolaus lowered shares of Phillips 66 Partners from a “buy” rating to a “hold” rating and lifted their price objective for the company from $50.00 to $52.00 in a research note on Monday, February 11th. Finally, Credit Suisse Group dropped their price objective on shares of Phillips 66 Partners from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, February 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $57.33.

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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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