State of New Jersey Common Pension Fund D held its position in Phillips 66 Partners LP (NYSE:PSXP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,080 shares of the oil and gas company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Phillips 66 Partners were worth $4,205,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSXP. Keybank National Association OH increased its stake in shares of Phillips 66 Partners by 9.0% in the first quarter. Keybank National Association OH now owns 4,820 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 400 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of 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 valued at $125,701,000 after buying an additional 275,500 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Phillips 66 Partners by 8.4% in the first quarter. Parkside Financial Bank & Trust now owns 24,915 shares of the oil and gas company’s stock valued at $1,279,000 after buying an additional 1,930 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in shares of Phillips 66 Partners during the first quarter valued at approximately $159,000. Finally, Bank of New York Mellon Corp increased its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 42.22% of the company’s stock.

Phillips 66 Partners LP (PSXP) opened at 46.52 on Tuesday. Phillips 66 Partners LP has a 52-week low of $42.47 and a 52-week high of $58.00. The company’s 50-day moving average is $49.41 and its 200 day moving average is $51.49. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 19.18 and a beta of 1.51.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.11. The company had revenue of $234 million during the quarter, compared to analysts’ expectations of $235.69 million. Phillips 66 Partners had a return on equity of 23.01% and a net margin of 45.35%. Phillips 66 Partners’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. Equities analysts forecast that Phillips 66 Partners LP will post $2.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Monday, July 31st were given a $0.615 dividend. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.46 dividend on an annualized basis and a yield of 5.29%. Phillips 66 Partners’s payout ratio is 101.23%.

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Several analysts have recently 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 target price for the company in a report on Tuesday, July 18th. Stifel Nicolaus set a $63.00 target price on shares of Phillips 66 Partners and gave the company a “buy” rating in a report on Saturday, June 24th. Citigroup Inc. lowered their target price on shares of Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 17th. BidaskClub downgraded shares of Phillips 66 Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, June 15th. Finally, Scotiabank set a $61.00 target price on shares of Phillips 66 Partners and gave the company a “buy” rating in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $56.44.

Phillips 66 Partners Company Profile

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

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