Dividend Watching: Phillips 66 Partners LP (NYSE:PSXP) dividends will reach $0.53 on Nov 14, 2016, and this is why.

Dividend Watching: Phillips 66 Partners LP (NYSE:PSXP) dividends will reach $0.53 on Nov 14, 2016, and this is why.

Phillips 66 Partners LP (NYSE:PSXP) is expected to pay $0.53 on Nov 14, 2016. The indicated annual dividend is $2.12. Shareholders owning the stock before Oct 31, 2016 will be eligible to receive the payout. Based on Phillips 66 Partners LP’s current price of $45.41, the dividend is 1.17%. This dividend’s record date is Nov 2, 2016 and the announcement date is Oct 20, 2016. The stock decreased 3.55% or $1.67 on October 28, hitting $45.41. Phillips 66 Partners LP (NYSE:PSXP) has declined 26.41% since March 29, 2016 and is downtrending. It has underperformed by 29.89% 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 $4.52 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 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.

Insitutional Activity: The institutional sentiment increased to 1.57 in Q2 2016. Its up 0.36, from 1.21 in 2016Q1. The ratio is positive, 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.
Parkside Commercial Bank & Tru holds 0.46% of its portfolio in Phillips 66 Partners LP (NYSE:PSXP) for 17,090 shares. Moreover, Coe Ltd Liability Co has 0% invested in Phillips 66 Partners LP (NYSE:PSXP) for 10,200 shares. Northern Tru has invested 0% of its portfolio in Phillips 66 Partners LP (NYSE:PSXP). Beaumont Financial Lc holds 0.04% of its portfolio in Phillips 66 Partners LP (NYSE:PSXP) for 4,700 shares. Solaris Asset Mgmt Lc owns 582 shares or 0.02% of their US portfolio. Sei Com last reported 92,683 shares in the company. Metropolitan Life Ny holds 163,150 shares or 0.07% of its portfolio. Alliancebernstein Limited Partnership, a New York-based fund reported 3,897 shares. State Bank Of America De has 144,396 shares for 0% of their US portfolio. The North Carolina-based Bb&T has invested 0.01% in Phillips 66 Partners LP (NYSE:PSXP). Goldman Sachs Group Inc Incorporated Inc owns 3.78 million shares or 0.07% of their US portfolio. Lvw Advsrs Limited Liability Company has 1.02% invested in the company for 48,408 shares. Mycio Wealth Prtnrs Limited Liability Company holds 0% or 144 shares in its portfolio. Carroll Assoc has invested 0% of its portfolio in Phillips 66 Partners LP (NYSE:PSXP). Raymond James Finance Services Advsr has 73,149 shares for 0.04% of their US portfolio.

Insider Transactions: Since May 20, 2016, the stock had 1 buy, and 0 insider sales for $423,549 net activity. Another trade for 8,000 shares valued at $423,549 was bought by Haney Mark.

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. Phillips 66 Partners has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Thursday, September 3 by Evercore. JP Morgan maintained it with “Overweight” rating and $78 target price in Tuesday, March 15 report. Raymond James initiated Phillips 66 Partners LP (NYSE:PSXP) rating on Thursday, April 21. Raymond James has “Outperform” rating and $72 price target. The rating was initiated by Jefferies on Tuesday, August 23 with “Hold”. Stifel Nicolaus initiated it with “Buy” rating and $59 target price in Thursday, August 18 report. The stock of Phillips 66 Partners LP (NYSE:PSXP) earned “Overweight” rating by Morgan Stanley on Thursday, February 25. As per Monday, October 10, the company rating was maintained by . Credit Suisse upgraded the stock to “Outperform” rating in Monday, October 26 report. The company was maintained on Monday, November 2 by RBC Capital Markets. The rating was initiated by Goldman Sachs on Thursday, August 25 with “Neutral”.

More notable recent Phillips 66 Partners LP (NYSE:PSXP) news were published by: Seekingalpha.com which released: “Phillips 66 Partners: Another 5% Distribution Increase” on October 28, 2016, also Seekingalpha.com with their article: “Phillips 66 Partners’ (PSXP) Q3 2016 Results – Earnings Call Transcript” published on October 29, 2016, Nasdaq.com published: “Ex-Div Reminder for Phillips 66 Partners (PSXP)” on October 27, 2016. More interesting news about Phillips 66 Partners LP (NYSE:PSXP) were released by: Marketwatch.com and their article: “Phillips 66 Partners to buy crude and natgas logistics assets for $1.3 billion” published on October 11, 2016 as well as Bizjournals.com‘s news article titled: “Phillips 66 Partners acquires more crude, refined products and NGL assets for …” with publication date: October 11, 2016.

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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