Tortoise Capital Advisors L.L.C. Has $491.50 Million Stock Position in Phillips 66 Partners LP (NYSE:PSXP)

Tortoise Capital Advisors L.L.C. lowered its stake in shares of Phillips 66 Partners LP (NYSE:PSXP) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,959,370 shares of the oil and gas company’s stock after selling 483,941 shares during the quarter. Phillips 66 Partners comprises approximately 3.2% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 13th largest holding. Tortoise Capital Advisors L.L.C. owned 7.97% of Phillips 66 Partners worth $491,495,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PSXP. Lindbrook Capital LLC increased its position in Phillips 66 Partners by 47.6% during the second quarter. Lindbrook Capital LLC now owns 1,240 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 400 shares during the period. Lee Financial Co bought a new position in Phillips 66 Partners during the second quarter worth $69,000. Redhawk Wealth Advisors Inc. bought a new position in Phillips 66 Partners during the second quarter worth $87,000. FDx Advisors Inc. bought a new position in Phillips 66 Partners during the second quarter worth $208,000. Finally, Glen Harbor Capital Management LLC increased its position in Phillips 66 Partners by 41.8% during the second quarter. Glen Harbor Capital Management LLC now owns 4,448 shares of the oil and gas company’s stock worth $219,000 after acquiring an additional 1,312 shares during the period. 42.80% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Partners stock traded up $0.17 on Friday, hitting $58.25. The company’s stock had a trading volume of 2,576,700 shares, compared to its average volume of 479,721. The firm has a market cap of $7.23 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 3.50 and a beta of 0.92. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.88. The company has a fifty day moving average price of $54.14 and a 200-day moving average price of $51.57. Phillips 66 Partners LP has a one year low of $40.76 and a one year high of $59.75.

Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings results on Friday, July 26th. The oil and gas company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.02. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $393.61 million. Phillips 66 Partners had a net margin of 54.28% and a return on equity of 48.70%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Analysts anticipate that Phillips 66 Partners LP will post 4.14 EPS for the current year.

In other Phillips 66 Partners news, Director Phillip David Bairrington purchased 613 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $52.11 per share, with a total value of $31,943.43. Following the acquisition, the director now directly owns 10,626 shares of the company’s stock, valued at approximately $553,720.86. The transaction was disclosed in a document filed with the SEC, which is available at this link.

PSXP has been the topic of several analyst reports. Zacks Investment Research raised shares of Phillips 66 Partners from a “sell” rating to a “hold” rating and set a $54.00 price target on the stock in a report on Tuesday, July 16th. Mizuho initiated coverage on shares of Phillips 66 Partners in a report on Wednesday, June 5th. They issued a “buy” rating and a $56.00 price target on the stock. Bank of America boosted their price target on shares of Phillips 66 Partners from $58.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, ValuEngine lowered shares of Phillips 66 Partners from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $57.00.

Phillips 66 Partners Profile

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) pipelines, terminals, and other transportation and midstream assets. The company operates pipeline assets in Lake Charles, Sweeny, Wood River, Borger/Ponca City, Billings, and Borger; terminal, rail rack, and storage assets in Louisiana, Texas, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.

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

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