Phillips 66 Partners LP (NYSE:PSXP) Shares Bought by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust grew its position in shares of Phillips 66 Partners LP (NYSE:PSXP) by 22.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,043 shares of the oil and gas company’s stock after purchasing an additional 2,708 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Phillips 66 Partners were worth $852,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Dividend Assets Capital LLC grew its holdings in shares of Phillips 66 Partners by 6.0% in the 2nd quarter. Dividend Assets Capital LLC now owns 184,321 shares of the oil and gas company’s stock worth $9,096,000 after acquiring an additional 10,397 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of Phillips 66 Partners in the 2nd quarter worth $948,000. Miller Howard Investments Inc. NY grew its holdings in shares of Phillips 66 Partners by 43.7% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 461,835 shares of the oil and gas company’s stock worth $22,792,000 after acquiring an additional 140,499 shares during the last quarter. Copeland Capital Management LLC grew its holdings in shares of Phillips 66 Partners by 18.6% in the 2nd quarter. Copeland Capital Management LLC now owns 192,706 shares of the oil and gas company’s stock worth $9,510,000 after acquiring an additional 30,155 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new position in shares of Phillips 66 Partners in the 2nd quarter worth $208,000. Institutional investors own 42.68% of the company’s stock.

A number of equities analysts recently issued reports on the company. Bank of America lifted their target price on Phillips 66 Partners from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Zacks Investment Research raised Phillips 66 Partners from a “strong sell” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Wednesday, October 30th. Mizuho raised their target price on Phillips 66 Partners from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. ValuEngine cut Phillips 66 Partners from a “sell” rating to a “strong sell” rating in a research report on Friday. Finally, Credit Suisse Group raised their target price on Phillips 66 Partners from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Phillips 66 Partners currently has a consensus rating of “Buy” and an average price target of $59.44.

In other Phillips 66 Partners news, Director Phillip David Bairrington bought 613 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $52.11 per share, with a total value of $31,943.43. Following the completion of the transaction, the director now directly owns 10,626 shares in the company, valued at approximately $553,720.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Phillips 66 Partners stock traded up $0.21 during midday trading on Friday, hitting $54.57. The company’s stock had a trading volume of 295,334 shares, compared to its average volume of 376,119. The firm has a market capitalization of $12.41 billion, a P/E ratio of 13.64, a PEG ratio of 3.05 and a beta of 0.89. The stock has a 50-day simple moving average of $55.95 and a 200-day simple moving average of $52.58. The company has a quick ratio of 1.49, a current ratio of 1.51 and a debt-to-equity ratio of 1.91. Phillips 66 Partners LP has a 1-year low of $40.76 and a 1-year high of $59.75.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be given a $0.865 dividend. This represents a $3.46 annualized dividend and a dividend yield of 6.34%. The ex-dividend date is Wednesday, October 30th. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.86. Phillips 66 Partners’s dividend payout ratio (DPR) is 86.50%.

Phillips 66 Partners Company 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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