Atlantic Trust Group LLC Has $7.88 Million Position in Phillips 66 Partners LP (PSXP)

Atlantic Trust Group LLC boosted its stake in Phillips 66 Partners LP (NYSE:PSXP) by 71.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,940 shares of the oil and gas company’s stock after purchasing an additional 62,279 shares during the quarter. Atlantic Trust Group LLC owned about 0.12% of Phillips 66 Partners worth $7,882,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PSXP. The Manufacturers Life Insurance Company raised its stake in Phillips 66 Partners by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 234 shares in the last quarter. Beaumont Financial Partners LLC acquired a new position in Phillips 66 Partners in the second quarter valued at about $217,000. Johnson Financial Group LLC acquired a new position in Phillips 66 Partners in the third quarter valued at about $217,000. Keybank National Association OH raised its stake in Phillips 66 Partners by 5.9% in the second quarter. Keybank National Association OH now owns 5,105 shares of the oil and gas company’s stock valued at $252,000 after purchasing an additional 285 shares in the last quarter. Finally, Signature Financial Management Inc. raised its stake in Phillips 66 Partners by 34.1% in the third quarter. Signature Financial Management Inc. now owns 5,500 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 1,400 shares in the last quarter. 37.17% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Partners LP (NYSE PSXP) opened at $52.04 on Tuesday. Phillips 66 Partners LP has a 12-month low of $44.40 and a 12-month high of $58.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.64 and a quick ratio of 0.56. The stock has a market capitalization of $6,326.61, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.68 and a beta of 1.46.

Phillips 66 Partners (NYSE:PSXP) last released its earnings results on Friday, October 27th. The oil and gas company reported $0.51 earnings per share (EPS) 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 business had revenue of $245.00 million during the quarter, compared to the consensus estimate of $236.18 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue was up 69.8% on a year-over-year basis. equities research analysts forecast that Phillips 66 Partners LP will post 2.58 EPS for the current year.

A number of research analysts recently commented on the company. Morgan Stanley dropped their price target 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. BidaskClub downgraded 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 issued a $51.00 target price on shares of Phillips 66 Partners in a research report on Monday, October 16th. Scotiabank reiterated a “buy” rating and issued a $61.00 target price on shares of Phillips 66 Partners in a research report on Wednesday, October 25th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $59.00.

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Phillips 66 Partners Company Profile

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

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