Cypress Wealth Advisors LLC bought a new stake in shares of Phillips 66 Partners LP (NYSE:PSXP) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 27,800 shares of the oil and gas company’s stock, valued at approximately $1,455,000. Phillips 66 Partners comprises 1.4% of Cypress Wealth Advisors LLC’s holdings, making the stock its 26th biggest position.
Other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in shares of Phillips 66 Partners during the 4th quarter valued at approximately $159,000. The Manufacturers Life Insurance Company boosted 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 valued at $165,000 after buying an additional 234 shares during the last quarter. Johnson Financial Group LLC purchased a new position in shares of Phillips 66 Partners during the 3rd quarter valued at approximately $217,000. Pitcairn Co. purchased a new position in shares of Phillips 66 Partners during the 4th quarter valued at approximately $220,000. Finally, Advisor Group Inc. boosted its stake in shares of Phillips 66 Partners by 165.3% during the 4th quarter. Advisor Group Inc. now owns 4,634 shares of the oil and gas company’s stock valued at $242,000 after buying an additional 2,887 shares during the last quarter. Institutional investors own 41.14% of the company’s stock.
Shares of Phillips 66 Partners LP (NYSE PSXP) opened at $51.09 on Thursday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.64 and a current ratio of 1.71. The stock has a market capitalization of $6,309.59, a P/E ratio of 20.04, a P/E/G ratio of 1.83 and a beta of 1.41. Phillips 66 Partners LP has a 52-week low of $44.40 and a 52-week high of $56.48.
Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.04). The firm had revenue of $331.00 million for the quarter, compared to analyst estimates of $316.00 million. Phillips 66 Partners had a net margin of 44.16% and a return on equity of 27.99%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. research analysts predict that Phillips 66 Partners LP will post 3.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Wednesday, January 31st were given a dividend of $0.678 per share. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.65. This represents a $2.71 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend was Tuesday, January 30th. Phillips 66 Partners’s dividend payout ratio is currently 106.27%.
Several research firms have recently commented on PSXP. Morgan Stanley reduced their target price on Phillips 66 Partners from $56.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 17th. Bank of America began coverage on Phillips 66 Partners in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. Zacks Investment Research cut Phillips 66 Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Stifel Nicolaus reiterated a “buy” rating and set a $62.00 target price (up from $59.00) on shares of Phillips 66 Partners in a research note on Sunday, February 4th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Phillips 66 Partners in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $58.45.
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Phillips 66 Partners Company Profile
Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.
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