Phillips 66 Partners LP (PSXP) Position Trimmed by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP lowered its position in shares of Phillips 66 Partners LP (NYSE:PSXP) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,267,861 shares of the oil and gas company’s stock after selling 51,506 shares during the period. Phillips 66 Partners makes up approximately 1.5% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 19th largest position. Kayne Anderson Capital Advisors LP owned about 1.87% of Phillips 66 Partners worth $119,187,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. lifted its position in shares of Phillips 66 Partners by 0.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 8,034,708 shares of the oil and gas company’s stock worth $397,075,000 after purchasing an additional 58,854 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Phillips 66 Partners by 17.7% during the 3rd quarter. Alps Advisors Inc. now owns 3,779,089 shares of the oil and gas company’s stock worth $198,629,000 after purchasing an additional 568,798 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Phillips 66 Partners by 0.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,165,211 shares of the oil and gas company’s stock worth $57,585,000 after purchasing an additional 7,104 shares during the last quarter. Dividend Assets Capital LLC lifted its position in shares of Phillips 66 Partners by 20.6% during the 2nd quarter. Dividend Assets Capital LLC now owns 660,180 shares of the oil and gas company’s stock worth $32,626,000 after purchasing an additional 112,680 shares during the last quarter. Finally, Brookfield Asset Management Inc. lifted its position in Phillips 66 Partners by 3.1% in the second quarter. Brookfield Asset Management Inc. now owns 566,500 shares of the oil and gas company’s stock valued at $27,996,000 after acquiring an additional 16,900 shares during the last quarter. Institutional investors and hedge funds own 37.22% of the company’s stock.

Shares of Phillips 66 Partners LP (NYSE:PSXP) traded up $0.73 on Thursday, hitting $46.74. 134,437 shares of the company traded hands, compared to its average volume of 288,465. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $5,763.73, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. Phillips 66 Partners LP has a fifty-two week low of $44.18 and a fifty-two week high of $58.00.

Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.08). Phillips 66 Partners had a net margin of 42.19% and a return on equity of 23.56%. The firm had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $236.18 million. During the same period in the previous year, the company posted $0.57 EPS. The business’s quarterly revenue was up 69.8% on a year-over-year basis. equities research analysts expect that Phillips 66 Partners LP will post 2.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Tuesday, October 31st were given a dividend of $0.646 per share. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, October 30th. This represents a $2.58 annualized dividend and a yield of 5.53%. Phillips 66 Partners’s dividend payout ratio is 108.86%.

A number of brokerages recently weighed in on PSXP. Morgan Stanley reduced their price target on shares of Phillips 66 Partners from $56.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 17th. BidaskClub lowered shares of Phillips 66 Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Jefferies Group reiterated a “hold” rating and set a $51.00 price target on shares of Phillips 66 Partners in a research note on Monday, October 16th. Scotiabank reiterated a “buy” rating and set a $61.00 price target on shares of Phillips 66 Partners in a research note on Wednesday, October 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $63.00 price target on shares of Phillips 66 Partners in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $58.89.

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Phillips 66 Partners Profile

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

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