Phillips 66 Partners (PSXP) Reaches New 12-Month Low at $44.94

Shares of Phillips 66 Partners LP (NYSE:PSXP) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $44.94 and last traded at $45.29, with a volume of 18742 shares trading hands. The stock had previously closed at $46.75.

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their target price on Phillips 66 Partners from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday, August 17th. Scotiabank set a $60.00 target price on Phillips 66 Partners and gave the stock a “buy” rating in a research note on Monday, August 20th. JPMorgan Chase & Co. lowered Phillips 66 Partners from an “overweight” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research note on Friday, August 24th. ValuEngine lowered Phillips 66 Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Finally, Credit Suisse Group assumed coverage on Phillips 66 Partners in a research note on Thursday, October 11th. They set an “outperform” rating and a $66.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $58.19.

The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $5.67 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Friday, October 26th. The oil and gas company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.18. Phillips 66 Partners had a return on equity of 47.66% and a net margin of 51.76%. The firm had revenue of $384.00 million for the quarter, compared to analyst estimates of $362.44 million. During the same quarter last year, the company earned $0.65 EPS. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Phillips 66 Partners LP will post 4.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Wednesday, October 31st were paid a dividend of $0.792 per share. This represents a $3.17 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend was Tuesday, October 30th. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.75. Phillips 66 Partners’s dividend payout ratio (DPR) is 122.39%.

In related news, Director Joseph O’toole acquired 10,000 shares of the stock in a transaction on Wednesday, November 28th. The shares were purchased at an average price of $46.96 per share, for a total transaction of $469,600.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $469,600. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional investors have recently bought and sold shares of the business. Keybank National Association OH boosted its holdings in shares of Phillips 66 Partners by 12.2% in the 2nd quarter. Keybank National Association OH now owns 9,276 shares of the oil and gas company’s stock valued at $474,000 after purchasing an additional 1,006 shares in the last quarter. Tortoise Index Solutions LLC boosted its holdings in shares of Phillips 66 Partners by 16.1% in the 2nd quarter. Tortoise Index Solutions LLC now owns 7,539 shares of the oil and gas company’s stock valued at $385,000 after purchasing an additional 1,045 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in shares of Phillips 66 Partners by 1.7% in the 3rd quarter. Copeland Capital Management LLC now owns 66,076 shares of the oil and gas company’s stock valued at $3,379,000 after purchasing an additional 1,117 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Phillips 66 Partners by 1.6% in the 2nd quarter. California Public Employees Retirement System now owns 78,667 shares of the oil and gas company’s stock valued at $4,017,000 after purchasing an additional 1,267 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Phillips 66 Partners by 7.6% in the 2nd quarter. US Bancorp DE now owns 23,522 shares of the oil and gas company’s stock valued at $1,201,000 after purchasing an additional 1,668 shares in the last quarter. Hedge funds and other institutional investors own 44.13% of the company’s stock.

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About Phillips 66 Partners (NYSE:PSXP)

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids 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, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana.

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