Breaking: Phillips 66 Just Disclosed New Phillips 66 Partners Lp Position

Breaking: Phillips 66 Just Disclosed New Phillips 66 Partners Lp Position

The New Phillips 66 Holding in Phillips 66 Partners Lp

Phillips 66 filed with the SEC SC 13D/A form for Phillips 66 Partners Lp. The form can be accessed here: 000153470116000169. As reported in Phillips 66’s form, the filler as of late owns 59.8% or 64,047,024 shares of the Energy–company.

Phillips 66 Partners Lp stake is a new one for the and it was filed because of activity on October 14, 2016. We feel this shows Phillips 66’s positive view for the stock.

Reasons Why Phillips 66 Bought – Phillips 66 Partners Lp Stock

Item 4.Purpose of Transaction

Item4 of the Initial Statement is hereby amended and supplemented as follows:

The purpose of the acquisition by P66 PDI of the Common Units and GP Units that were the subject of the Contribution Agreement is for general investment purposes.

Depending on the factors discussed herein, the Reporting Persons may, from time to time, acquire, retain or sell all or a portion of the Common Units in the open market or in privately negotiated transactions. Any actions the Reporting Persons might undertake will be dependent upon the Reporting Persons’ review of numerous factors, including, among other things, the price levels of the Common Units; general market and economic conditions; ongoing evaluation of the Issuer’s business, financial condition, operations and prospects; the relative attractiveness of alternative business and investment opportunities; and other future developments.

Except as set forth above, the Reporting Persons and Related Persons have no present plans or proposals that would result in or relate to any of the transactions described in subparagraphs (a)through (j)of Item4 of Schedule13D.

Phillips 66 Partners Lp Institutional Sentiment

Latest Security and Exchange filings show 96 investors own Phillips 66 Partners Lp. The institutional ownership in Q3 2015 is high, at 22.78% of the outstanding shares. This is increased by 2314083 the total institutional shares. 22143953 were the shares owned by these institutional investors. In total 12 funds opened new Phillips 66 Partners Lp stakes, 41 increased stakes. There were 13 that closed positions and 32 reduced them.

Center Coast Capital Advisors Lp is an institutional investor bullish on Phillips 66 Partners Lp, owning 1175676 shares as of Q3 2015 for 1.75% of its portfolio. Tortoise Capital Advisors Llc owns 4721345 shares or 1.83% of its portfolio. TN Chickasaw Capital Management Llc have 3.47% of their stock portfolio for 1809580 shares. Further, Nbw Capital Llc reported stake worth 2.07% of its US stock portfolio. The KS Samson Capital Management Llc owns 114176 shares. Phillips 66 Partners Lp is 4.12% of the manager’s US portfolio.

Business Profile

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. The Company’s assets also consists of systems, which include Clifton Ridge Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Cross-Channel Connector Project, Eagle Ford Gathering System Project, Sand Hills/Southern Hills/Explorer Pipeline joint ventures, Bakken Joint Ventures and Bayou Bridge joint venture. Its Clifton Ridge Crude System is a crude oil pipeline, terminal and storage system located in Sulphur, Louisiana.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment increased to 1.57 in 2016 Q2. Its up 0.36, from 1.21 in 2016Q1. The ratio improved, as 18 funds sold all Phillips 66 Partners LP shares owned while 28 reduced positions. 26 funds bought stakes while 46 increased positions. They now own 33.71 million shares or 51.45% more from 22.26 million shares in 2016Q1.

Weiss Multi has 0.71% invested in the company for 163,458 shares. Creative Planning holds 0% of its portfolio in Phillips 66 Partners LP (NYSE:PSXP) for 659 shares. Diversified Trust Com last reported 0.12% of its portfolio in the stock. Williams Jones And Assoc Llc accumulated 0.13% or 51,512 shares. Hollencrest Lc owns 5,500 shares or 0.05% of their US portfolio. Jpmorgan Chase & Comm reported 595,704 shares or 0.01% of all its holdings. Krasney Fincl Limited Liability Co has 11,222 shares for 0.15% of their US portfolio. Copeland Mgmt Limited Liability accumulated 78,409 shares or 0.3% of the stock. California Employees Retirement Systems last reported 11,700 shares in the company. Blackrock Inv Ltd Com holds 55,190 shares or 0% of its portfolio. Balyasny Asset Ltd Co has 135,605 shares for 0.05% of their US portfolio. Natixis holds 928,200 shares or 0.96% of its portfolio. The Massachusetts-based Liberty Mutual Group Asset Management has invested 0.09% in Phillips 66 Partners LP (NYSE:PSXP). The New York-based X Management Ltd Co has invested 0.02% in Phillips 66 Partners LP (NYSE:PSXP). Chickasaw Cap Mngmt Limited Liability Company last reported 2.89% of its portfolio in the stock.

Insider Transactions: Since May 20, 2016, the stock had 1 insider purchase, and 0 insider sales for $423,549 net activity. 8,000 shares with value of $423,549 were bought by Haney Mark on Friday, May 20.

Analysts await Phillips 66 Partners LP (NYSE:PSXP) to report earnings on November, 4. They expect $0.58 EPS, up 16.00% or $0.08 from last year’s $0.5 per share. PSXP’s profit will be $59.71M for 20.22 P/E if the $0.58 EPS becomes a reality. After $0.51 actual EPS reported by Phillips 66 Partners LP for the previous quarter, Wall Street now forecasts 13.73% EPS growth.

The stock increased 0.17% or $0.08 on October 18, hitting $46.92. About 260,200 shares traded hands. Phillips 66 Partners LP (NYSE:PSXP) has declined 19.93% since March 15, 2016 and is downtrending. It has underperformed by 25.42% the S&P500.

Phillips 66 Partners LP owns, operates, develops and acquires fee crude oil, refined petroleum product and natural gas liquids pipelines, terminals and other transportation and midstream assets. The company has a market cap of $4.83 billion. The Firm 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. It has a 22.73 P/E ratio. The Company’s assets also consists of systems, which include Clifton Ridge Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Cross-Channel Connector Project, Eagle Ford Gathering System Project, Sand Hills/Southern Hills/Explorer Pipeline joint ventures, Bakken Joint Ventures and Bayou Bridge joint venture.

Phillips 66 Partners LP (NYSE:PSXP) Ratings Coverage

Out of 13 analysts covering Phillips 66 Partners (NYSE:PSXP), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. $81 is the highest target while $55 is the lowest. The $69.60 average target is 48.34% above today’s ($46.92) stock price. Phillips 66 Partners has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was initiated by Goldman Sachs on Thursday, August 25 with “Neutral”. On Monday, October 10 the stock rating was maintained by with “Buy”. The firm has “Overweight” rating given on Tuesday, March 15 by JP Morgan. The firm has “Outperform” rating given on Thursday, April 21 by Raymond James. The firm has “Overweight” rating given on Thursday, February 25 by Morgan Stanley. The stock of Phillips 66 Partners LP (NYSE:PSXP) earned “Market Perform” rating by Wells Fargo on Tuesday, May 3. Mizuho initiated it with “Buy” rating and $55 target price in Friday, September 30 report. Stifel Nicolaus initiated Phillips 66 Partners LP (NYSE:PSXP) rating on Thursday, August 18. Stifel Nicolaus has “Buy” rating and $59 price target. The stock has “Outperform” rating given by Credit Suisse on Monday, October 26. On Thursday, September 3 the stock rating was maintained by Evercore with “Buy”.

More notable recent Phillips 66 Partners LP (NYSE:PSXP) news were published by: Seekingalpha.com which released: “Phillips 66 Partners: A $1.3 Billion Drop-Down Investors Have Been Waiting For” on October 17, 2016, also Marketwatch.com with their article: “Phillips 66 Partners to buy crude and natgas logistics assets for $1.3 billion” published on October 11, 2016, Businesswire.com published: “Phillips 66 Partners Announces $1.3 Billion Acquisition” on October 11, 2016. More interesting news about Phillips 66 Partners LP (NYSE:PSXP) were released by: Streetinsider.com and their article: “Moody’s Assigns ‘Baa3’ Rating to Phillips 66 Partners (PSXP); Outlook Stable” published on October 11, 2016 as well as Seekingalpha.com‘s news article titled: “Phillips 66 Partners: A Solid Income Choice With Unique Assets” with publication date: September 13, 2016.

According to Zacks Investment Research, “Phillips 66 Partners L.P is a downstream energy company. It operates in three segments: Refining and Marketing, Midstream and Chemicals. Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products primarily in the United States, Europe and Asia. This segment also includes power generation operations. Midstream segment gathers, processes, transports and markets natural gas and transports, fractionates and markets natural gas liquids primarily in the United States. Chemicals segment manufactures and markets petrochemicals and plastics. Phillips 66 Partners L.P is headquartered in Houston, Texas.”

PSXP Company Profile

Phillips 66 Partners LP, incorporated on February 20, 2013, owns, operates, develops and acquires fee crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Firm 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. The Company’s assets also consists of systems, which include Clifton Ridge Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Cross-Channel Connector Project, Eagle Ford Gathering System Project, Sand Hills/Southern Hills/Explorer Pipeline joint ventures, Bakken Joint Ventures and Bayou Bridge joint venture.

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