Today, Jennison Associates LLC decides to keep it stake in Phillips 66 Partners LP (PSXP) to the level of $2,863,000

Today, Jennison Associates LLC decides to keep it stake in Phillips 66 Partners LP (PSXP) to the level of $2,863,000
Jennison Associates LLC decreased its position in Phillips 66 Partners LP (NYSE:PSXP) by 48.7% during the third quarter, Holdings Channel reports. The institutional investor owned 58,913 shares of the company’s stock after selling 55,991 shares during the period. Jennison Associates LLC owned 0.06% of Phillips 66 Partners worth $2,863,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Center Coast Capital Advisors LP boosted its stake in Phillips 66 Partners by 137.2% in the second quarter. Center Coast Capital Advisors LP now owns 2,547,046 shares of the company’s stock valued at $142,303,000 after buying an additional 1,473,303 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Phillips 66 Partners by 18.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,402,095 shares of the company’s stock valued at $357,685,000 after buying an additional 982,297 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Phillips 66 Partners by 524.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,092,365 shares of the company’s stock valued at $61,030,000 after buying an additional 917,475 shares during the last quarter. Alps Advisors Inc. boosted its stake in Phillips 66 Partners by 44.2% in the second quarter. Alps Advisors Inc. now owns 2,281,266 shares of the company’s stock valued at $127,454,000 after buying an additional 699,479 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in Phillips 66 Partners during the second quarter valued at $36,025,000.

Shares of Phillips 66 Partners LP (NYSE:PSXP) traded down 2.06% on Friday, hitting $44.78. The stock had a trading volume of 148,126 shares. The firm has a 50-day moving average of $45.55 and a 200 day moving average of $50.15. Phillips 66 Partners LP has a 1-year low of $42.47 and a 1-year high of $66.81. The company has a market capitalization of $4.63 billion, a PE ratio of 20.95 and a beta of 1.57.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, October 28th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $144.30 million for the quarter, compared to analyst estimates of $151.70 million. During the same period last year, the company earned $0.50 EPS. The company’s quarterly revenue was up 52.9% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 Partners LP will post $2.30 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors 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 4.74%. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.51. The ex-dividend date was Monday, October 31st.

Several equities research analysts have weighed in on PSXP shares. Stifel Nicolaus started coverage on Phillips 66 Partners in a research note on Thursday, August 18th. They set a “buy” rating and a $59.00 target price for the company. Credit Suisse Group AG set a $76.00 target price on Phillips 66 Partners and gave the stock a “buy” rating in a research note on Monday, August 1st. Mizuho started coverage on Phillips 66 Partners in a research note on Thursday, September 29th. They set a “buy” rating and a $55.00 target price for the company. Zacks Investment Research upgraded Phillips 66 Partners from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Saturday, October 15th. Finally, Deutsche Bank AG set a $57.00 target price on Phillips 66 Partners and gave the stock a “buy” rating in a research note on Monday, October 10th. Five research 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 a consensus target price of $63.08.

In other Phillips 66 Partners news, President Timothy Garth Taylor acquired 5,000 shares of Phillips 66 Partners stock in a transaction that occurred on Thursday, November 17th. The stock was 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 of the company’s stock, valued at $2,394,150. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

About Phillips 66 Partners

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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