Global X Management Co. LLC raised its position in shares of Phillips 66 Partners LP (NYSE:PSXP) by 34.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 678,713 shares of the oil and gas company’s stock after purchasing an additional 172,361 shares during the period. Phillips 66 Partners comprises 0.8% of Global X Management Co. LLC’s portfolio, making the stock its 24th biggest position. Global X Management Co. LLC’s holdings in Phillips 66 Partners were worth $35,531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. raised its position in shares of Phillips 66 Partners by 2.4% in the 4th quarter. Alps Advisors Inc. now owns 3,868,700 shares of the oil and gas company’s stock worth $202,526,000 after acquiring an additional 89,611 shares in the last quarter. Center Coast Capital Advisors LP raised its position in shares of Phillips 66 Partners by 16.9% in the 4th quarter. Center Coast Capital Advisors LP now owns 1,570,473 shares of the oil and gas company’s stock worth $82,214,000 after acquiring an additional 226,624 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Phillips 66 Partners by 33.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 851,747 shares of the oil and gas company’s stock worth $44,955,000 after acquiring an additional 215,461 shares in the last quarter. Brookfield Asset Management Inc. raised its position in shares of Phillips 66 Partners by 3.1% in the 2nd quarter. Brookfield Asset Management Inc. now owns 566,500 shares of the oil and gas company’s stock worth $27,996,000 after acquiring an additional 16,900 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in shares of Phillips 66 Partners by 65.1% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 524,019 shares of the oil and gas company’s stock worth $27,432,000 after acquiring an additional 206,700 shares in the last quarter. 36.89% of the stock is owned by institutional investors and hedge funds.

PSXP has been the topic of several research analyst reports. Goldman Sachs Group upgraded Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, December 18th. Stifel Nicolaus dropped their price target on Phillips 66 Partners from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. Mizuho set a $59.00 price target on Phillips 66 Partners and gave the company a “buy” rating in a research note on Sunday, October 29th. 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, Citigroup boosted their price target on Phillips 66 Partners from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Phillips 66 Partners currently has an average rating of “Hold” and a consensus price target of $58.20.

Phillips 66 Partners LP (NYSE PSXP) opened at $50.82 on Wednesday. The stock has a market capitalization of $6,113.86, a PE ratio of 19.72, a PEG ratio of 1.33 and a beta of 1.39. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 1.28. Phillips 66 Partners LP has a fifty-two week low of $44.40 and a fifty-two week high of $57.61.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data 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 company had revenue of $331.00 million during 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 26.73%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. sell-side analysts expect that Phillips 66 Partners LP will post 3.15 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Wednesday, January 31st were issued a $0.678 dividend. This represents a $2.71 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Tuesday, January 30th. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.65. Phillips 66 Partners’s payout ratio is 106.27%.

COPYRIGHT VIOLATION NOTICE: “Phillips 66 Partners LP (PSXP) Shares Bought by Global X Management Co. LLC” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://www.thecerbatgem.com/2018/02/14/phillips-66-partners-lp-psxp-shares-bought-by-global-x-management-co-llc.html.

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.

Want to see what other hedge funds are holding PSXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 Partners LP (NYSE:PSXP).

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

Receive News & Ratings for Phillips 66 Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 Partners and related companies with MarketBeat.com's FREE daily email newsletter.