Phillips 66 Partners LP (PSXP) President Timothy Garth Taylor Buys 5,000 Shares
Phillips 66 Partners LP (NYSE:PSXP) President Timothy Garth Taylor bought 5,000 shares of the stock in a transaction on Thursday, November 17th. The shares were acquired at an average cost of $43.53 per share, for a total transaction of $217,650.00. Following the purchase, the president now owns 55,000 shares in the company, valued at $2,394,150. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Phillips 66 Partners LP (NYSE:PSXP) traded down 0.39% during mid-day trading on Friday, hitting $43.51. 114,690 shares of the company were exchanged. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 20.36 and a beta of 1.57. The firm has a 50 day moving average price of $46.10 and a 200 day moving average price of $50.55. Phillips 66 Partners LP has a 12 month low of $42.47 and a 12 month high of $66.81.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, October 28th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by $0.03. The business earned $144.30 million during the quarter, compared to analysts’ expectations of $151.70 million. During the same quarter last year, the firm posted $0.50 earnings per share. The company’s revenue was up 52.9% compared to the same quarter last year. Analysts anticipate that Phillips 66 Partners LP will post $2.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Wednesday, November 2nd were paid a $0.531 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.86%. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Monday, October 31st.
A number of hedge funds have recently modified their holdings of PSXP. The Manufacturers Life Insurance Company acquired a new stake in shares of Phillips 66 Partners during the third quarter worth about $131,000. Balentine LLC acquired a new stake in shares of Phillips 66 Partners during the second quarter worth about $173,000. Alliancebernstein L.P. raised its stake in shares of Phillips 66 Partners by 2.6% in the second quarter. Alliancebernstein L.P. now owns 3,897 shares of the company’s stock worth $218,000 after buying an additional 97 shares during the last quarter. Signaturefd LLC raised its stake in shares of Phillips 66 Partners by 4.0% in the second quarter. Signaturefd LLC now owns 3,925 shares of the company’s stock worth $219,000 after buying an additional 150 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Phillips 66 Partners during the second quarter worth about $226,000.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus began coverage on shares of Phillips 66 Partners in a research report on Thursday, August 18th. They set a “buy” rating and a $59.00 price target on the stock. Jefferies Group set a $54.00 target price on shares of Phillips 66 Partners and gave the company a “hold” rating in a research report on Saturday, October 15th. Mizuho began coverage on shares of Phillips 66 Partners in a research report on Thursday, September 29th. They issued a “buy” rating and a $55.00 target price on the stock. Zacks Investment Research cut shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Finally, Deutsche Bank AG set a $57.00 target price on shares of Phillips 66 Partners and gave the company a “buy” rating in a research report on Monday, October 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $63.08.
Phillips 66 Partners Company Profile
Phillips 66 Partners LP 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 charges tariffs and fees for transporting crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States.
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