Neuberger Berman Group LLC raised its holdings in Phillips 66 Partners LP (NYSE:PSXP) by 13.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,205 shares of the oil and gas company’s stock after acquiring an additional 1,328 shares during the quarter. Neuberger Berman Group LLC’s holdings in Phillips 66 Partners were worth $554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tortoise Capital Advisors L.L.C. increased its position in shares of Phillips 66 Partners by 0.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,034,708 shares of the oil and gas company’s stock worth $397,075,000 after buying an additional 58,854 shares during the period. Alps Advisors Inc. increased its position in shares of Phillips 66 Partners by 5.4% during the second quarter. Alps Advisors Inc. now owns 3,210,291 shares of the oil and gas company’s stock worth $158,653,000 after buying an additional 163,520 shares during the period. JPMorgan Chase & Co. increased its position in shares of Phillips 66 Partners by 3.6% during the first quarter. JPMorgan Chase & Co. now owns 746,582 shares of the oil and gas company’s stock worth $38,337,000 after buying an additional 26,058 shares during the period. Dividend Assets Capital LLC increased its position in shares of Phillips 66 Partners by 20.6% during the second quarter. Dividend Assets Capital LLC now owns 660,180 shares of the oil and gas company’s stock worth $32,626,000 after buying an additional 112,680 shares during the period. Finally, Brookfield Asset Management Inc. increased its position in shares of Phillips 66 Partners by 93.3% during the first quarter. Brookfield Asset Management Inc. now owns 549,600 shares of the oil and gas company’s stock worth $28,222,000 after buying an additional 265,300 shares during the period. Hedge funds and other institutional investors own 42.96% of the company’s stock.

Shares of Phillips 66 Partners LP (PSXP) opened at 48.52 on Friday. The firm has a market capitalization of $5.36 billion, a PE ratio of 20.01 and a beta of 1.52. Phillips 66 Partners LP has a 12-month low of $42.47 and a 12-month high of $58.00. The firm has a 50-day moving average of $47.37 and a 200-day moving average of $49.88.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.11). The company had revenue of $234.00 million for the quarter, compared to analysts’ expectations of $235.69 million. Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. Equities analysts anticipate that Phillips 66 Partners LP will post $2.64 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Neuberger Berman Group LLC Acquires 1,328 Shares of Phillips 66 Partners LP (PSXP)” was published by Daily Political and is owned by of Daily Political. If you are viewing this piece on another publication, it was illegally copied and republished in violation of U.S. and international copyright laws. The original version of this piece can be viewed at https://www.dailypolitical.com/2017/09/22/neuberger-berman-group-llc-acquires-1328-shares-of-phillips-66-partners-lp-psxp.html.

Several equities research analysts have recently weighed in on PSXP shares. Morgan Stanley reiterated an “overweight” rating on shares of Phillips 66 Partners in a research report on Tuesday, September 5th. BidaskClub upgraded shares of Phillips 66 Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Scotiabank set a $61.00 price objective on shares of Phillips 66 Partners and gave the stock a “buy” rating in a research report on Friday, July 21st. Citigroup Inc. decreased their price objective on shares of Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, July 17th. Finally, Barclays PLC upgraded shares of Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price objective for the company in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.44.

About Phillips 66 Partners

Want to see what other hedge funds are holding PSXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 Partners LP (NYSE:PSXP).

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

Receive News & Ratings for Phillips 66 Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.