Phillips 66 Partners LP (PSXP) Stake Raised by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its position in shares of Phillips 66 Partners LP (NYSE:PSXP) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,199 shares of the oil and gas company’s stock after purchasing an additional 627 shares during the period. Alliancebernstein L.P.’s holdings in Phillips 66 Partners were worth $553,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signature Financial Management Inc. purchased a new stake in shares of Phillips 66 Partners during the 2nd quarter worth $202,000. Proficio Capital Partners LLC lifted its position in shares of Phillips 66 Partners by 8.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 4,676 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 354 shares during the last quarter. Keybank National Association OH lifted its position in shares of Phillips 66 Partners by 5.9% during the 2nd quarter. Keybank National Association OH now owns 5,105 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 285 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Phillips 66 Partners during the 1st quarter worth $301,000. Finally, Creative Planning lifted its position in shares of Phillips 66 Partners by 105.6% during the 2nd quarter. Creative Planning now owns 5,883 shares of the oil and gas company’s stock worth $291,000 after purchasing an additional 3,022 shares during the last quarter. 43.07% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the stock. 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, October 3rd. BidaskClub upgraded shares of Phillips 66 Partners from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Jefferies Group LLC 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. Goldman Sachs Group, Inc. (The) upgraded shares of Phillips 66 Partners from a “sell” rating to a “neutral” rating and set a $59.00 price target on the stock in a research note on Tuesday, October 17th. Finally, Barclays PLC upgraded shares of Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price target on the stock in a research note on Tuesday, July 18th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Phillips 66 Partners has a consensus rating of “Buy” and a consensus price target of $59.38.

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Phillips 66 Partners LP (NYSE:PSXP) opened at $49.77 on Friday. The company has a market cap of $5.54 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.59 and a beta of 1.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.62 and a current ratio of 0.64.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.51 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $245.00 million for the quarter, compared to the consensus estimate of $236.18 million. During the same period last year, the business earned $0.57 EPS. The firm’s quarterly revenue was up 69.8% on a year-over-year basis. research analysts forecast that Phillips 66 Partners LP will post 2.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be given a dividend of $0.646 per share. This represents a $2.58 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.62. Phillips 66 Partners’s dividend payout ratio (DPR) is 108.86%.

About Phillips 66 Partners

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

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