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What Do Institutional Investors Think about Phillips 66 Partners?

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Institutions hold nearly 70% of PSXP’s float

Nearly 70% of Phillips 66 Partners’ (PSXP) floating shares are currently held by ~195 institutional investors. The percentage of float held has fallen significantly compared to nearly 98.7% at the end of 1Q16.

The number of new institutional buyers of PSXP’s shares fell from 32 at the end of 1Q16 to 26 on June 24, 2016. At the same time, the number of sellers and the number of sell-offs have risen by 7% and 92%, respectively, since the end of 1Q16. This suggests reduced institutional interest in PSXP compared to the end of 1Q16.

The above table summarizes the activities of institutional investors on Phillips 66 Partners’ shares. Since the start of June, the number of new buyers has risen from 25 to 26. Moreover, the number of buyers rose from 70 to 72, and the number of sellers rose from 57 to 58.

With the rise in the number of buyers and new buyers in the current month, it will be interesting to keep an eye on institutional investors’ activities on this stock.

In comparison, institutional investors each own nearly 65% floats of both Enbridge Energy Partners (EEP) and ONEOK Partners (OKS).

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Top institutional holders

Phillips 66 holds nearly 63% of PSXP’s outstanding shares. Tortoise Capital, Goldman Sachs, Chickasaw Capital, ALPS Advisors, and Kayne Anderson are the top five institutional holders of PSXP’s shares. Tortoise Capital is the largest holder and owns 5.7% of Phillips 66 Partners’ outstanding shares.

Tortoise Capital and ALPS Advisors have added to their positions since the end of 1Q16, while the remaining three of the top five holders have reduced their holdings.

Next, we’ll analyze the short interest in Phillips 66 Partners’ shares.

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