Institutional Investors Are Buying Phillips 66 Partners LP (NYSE:PSXP)

June 15, 2018 - By Linda Rogers

Sentiment for Phillips 66 Partners LP (NYSE:PSXP)

Phillips 66 Partners LP (NYSE:PSXP) institutional sentiment increased to 1.43 in 2018 Q1. Its up 0.46, from 0.97 in 2017Q4. The ratio is positive, as 63 investment managers started new and increased stock positions, while 44 sold and trimmed stakes in Phillips 66 Partners LP. The investment managers in our partner’s database now have: 45.71 million shares, up from 45.55 million shares in 2017Q4. Also, the number of investment managers holding Phillips 66 Partners LP in their top 10 stock positions decreased from 5 to 4 for a decrease of 1. Sold All: 13 Reduced: 31 Increased: 44 New Position: 19.

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids pipelines and terminals, as well as other transportation midstream assets. The company has market cap of $6.26 billion. It 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, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana. It has a 20.31 P/E ratio. Phillips 66 Partners GP LLC operates as the general partner of Phillips 66 Partners LP.

The stock decreased 2.50% or $1.32 during the last trading session, reaching $51.43. About 214,057 shares traded. Phillips 66 Partners LP (NYSE:PSXP) has declined 1.78% since June 15, 2017 and is downtrending. It has underperformed by 14.35% the S&P500.

Analysts await Phillips 66 Partners LP (NYSE:PSXP) to report earnings on August, 7. They expect $0.86 earnings per share, up 40.98 % or $0.25 from last year’s $0.61 per share. PSXP’s profit will be $104.71M for 14.95 P/E if the $0.86 EPS becomes a reality. After $0.87 actual earnings per share reported by Phillips 66 Partners LP for the previous quarter, Wall Street now forecasts -1.15 % negative EPS growth.

Samson Capital Management Llc holds 6.25% of its portfolio in Phillips 66 Partners LP for 105,875 shares. Tortoise Capital Advisors L.L.C. owns 9.74 million shares or 3.55% of their US portfolio. Moreover, Chickasaw Capital Management Llc has 3.33% invested in the company for 2.93 million shares. The Texas-based Rr Advisors Llc has invested 2.96% in the stock. Spirit Of America Management Corp Ny, a New York-based fund reported 444,239 shares.

Phillips 66 Partners LP (NYSE:PSXP) Ratings Coverage

Ratings analysis reveals 55% of Phillips 66 Partners’s analysts are positive. Out of 11 Wall Street analysts rating Phillips 66 Partners, 6 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $5000 while the high is $64.0. The stock’s average target of $56.50 is 9.86% above today’s ($51.43) share price. PSXP was included in 14 notes of analysts from December 18, 2017. JP Morgan maintained the stock with “Overweight” rating in Tuesday, March 13 report. The company was maintained on Tuesday, April 24 by Jefferies. As per Tuesday, April 17, the company rating was maintained by Barclays Capital. Citigroup maintained Phillips 66 Partners LP (NYSE:PSXP) on Tuesday, March 27 with “Buy” rating. Barclays Capital downgraded the shares of PSXP in report on Wednesday, January 17 to “Equal-Weight” rating. Scotia Capital maintained the stock with “Buy” rating in Monday, January 29 report. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, February 5 report. Stifel Nicolaus maintained Phillips 66 Partners LP (NYSE:PSXP) rating on Sunday, February 4. Stifel Nicolaus has “Buy” rating and $62.0 target. Goldman Sachs upgraded the shares of PSXP in report on Monday, December 18 to “Buy” rating. The rating was maintained by RBC Capital Markets on Tuesday, January 16 with “Buy”.

More notable recent Phillips 66 Partners LP (NYSE:PSXP) news were published by: Seekingalpha.com which released: “Phillips 66 Is Cashing In On The Oil Spread” on May 21, 2018, also Seekingalpha.com with their article: “Q1’18 MLP Distribution Recap: Several Growers Overshadowed By 2 Cuts” published on May 23, 2018, Bizjournals.com published: “Exxon Mobil, Plains All American to create Permian pipeline JV” on June 13, 2018. More interesting news about Phillips 66 Partners LP (NYSE:PSXP) were released by: Fool.com and their article: “3 Dividend Stocks That Give Their Investors Several Raises Each Year” published on June 09, 2018 as well as Fool.com‘s news article titled: “Phillips 66 Refills Its Growth Engine” with publication date: June 14, 2018.

Phillips 66 Partners LP (NYSE:PSXP) Institutional Positions Chart

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