 |
D.D. Premium |
|
Master Limited Partnerships: Energy Click here for printable (PDF) version Returns • Portfolio Details • Company Analysis & Recent News • Distribution Calendar
Before You Invest Tell us how could we make this page more useful to you.
Click for: Company Analysis & Recent News • Distribution Calendar
|
|||||||||||||||||
|
Ticker |
Portfolio Details data 11/30/18 Names in Green are rated "buy." |
||||
|
PSXP |
Phillips 66 Partners |
49.85 |
6.8% |
20% |
2/2 |
|
Rating: SELL A July 2013 IPO, PSXP was formed by Phillips 66 to develop, own and operate primarily fee based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and storage facilities. More QUOTE |
|||||
|
Information believed correct, but accuracy not guaranteed. Investing in stocks and/or funds involves risk. Readers should not assume that recommendations will be profitable or will equal the performance of past recommendations. Before investing, consult with a financial advisor to determine if the stocks and/or funds described here are suitable investments for you. |
|
last update 12/2/18 |
Distribution Amount |
Vs. Year-Ago |
Ex-Div Date |
Pay Date |
Notes |
|
Phillips 66 Partners |
0.7920 |
+23% |
10/30/18 |
11/13/18 |
bold indicates increased or decreased distribution
|
Company Analysis & Recent News 12/3/18 Notes: Instead of EPS, MLP earnings are called EPU (earnings per unit) and dividends are called 'distributions.' CF Payout Ratio: Annualized distributions % of forecast fiscal year cash flow. CFU: cash flow per unit. Distributable cash flow (DCF) or cash available for distribution (CAD): cash from operations available to pay distributions. Div/EPU ratio: next 12 month's forecast distributions divided by forecast EPU. Click here for Archives including previously sold MLP picks Hi-Crush Partners Sold 10/1/18 Phillips 66 Partners Rating: SELL We are advising selling Phillips 66 Partners. Please see write-up at top for details. In October, Phillips 66 Partners raised its quarterly distribution by 5% to $0.792 per unit, which was 33% above its year-ago payout. Forecast FY 12/2018 EPU Growth: 47% FY 2019 P/E: 13
Background Quarterly Reports September '18: EPU $1.10, up 115% vs. year-ago. Revenues up 5% to $384 million. Distributable cash flow $1.08 per unit vs. year-ago $0.72 (up 50%). In July, distribution up 5% to $0.752 per unit. June '18: EPU $0.94, up 54%. Revenues up 28% to $354 million. Distributable cash flow $1.04 per unit vs. year-ago $0.83. In April, distribution up 5% to $0.714. March '18 EPU: $0.87, up 45%. Revenues up 52% to $355 million. Distributable cash flow $1.00 per unit vs. $0.77. Pipeline volumes down 3% to 1.745 million barrels per day (mbpd). Terminal storage volumes flat at 1.166 mbpd. Average pipeline revenue up 3% to $0.65 per barrel. Average terminal storage revenue up 6% to $0.37 per barrel. In January, distribution up 5% to $0.678, up 22% vs. year-ago. December '17 EPU: $0.83, up 28%. Revenues up 45% to $331 million. Distributable cash flow up 8% to $0.90 per unit. Pipeline volumes flat at 1.970 million barrels per day (mbpd). Terminal storage volumes up 34% to 1.970 mbpd. Average pipeline revenue up 5% to $0.63 per barrel. Average terminal storage revenue up 3% to $0.41 per barrel. In October, distribution up 5% to $0.646. September '17 EPU: $0.51, down $0.06. Revenues up 70% to $299 million. Distributable cash flow $0.72 per unit vs. $0.66. Pipeline volumes up 120% to 1.935 million barrels per day (mbpd). Terminal storage volumes up 96% to 1.935 mbpd. Average pipeline revenue up 37% to $0.63 per barrel. Average terminal storage revenue up 5% to $0.41 per barrel. Agreed to pay $1.7 billion, plus assume $625 million of debt, to acquire general partners (Phillips 66, Inc.) 25% interest in the Bakken Pipeline, which consists of 1,926 pipeline miles and 520,000 barrels per day of crude oil capacity, and 100% interest in Merey Sweeny, the owner of coke processing units at the Phillips 66 Sweeny Refinery. Sold 6.3 million common units at $47.59 per unit. In July, distribution up 5% to $0.615. June '17 EPU: $0.61, up 20%. Revenues up 68% to $234 million. Distributable cash flow $0.83/unit vs. year-ago $0.84. Pipeline volumes up 114% to 1.915 million barrels per day (mbpd). Terminal storage volumes up 32% to 1.334 mbpd. Average pipeline revenue up 0% to $0.61 per barrel. Average terminal storage revenue up 5% to $0.42 per barrel. In April, Phillips raised its quarterly distribution by 5% to $0.586. March '17 EPU: $0.60 per unit, up 36%. Revenues up 127% to $234 million. Distributable cash flow $124 million vs. $64.1 million. Pipeline volumes up 134% vs. year-ago to 1.875 mbpd. Terminal storage volumes up 49% to 1.383 mbpd. Average pipeline revenue up 37% to $0.63 per barrel. Average terminal storage revenue up 3% to $0.41 per barrel. In January, distribution up 5% to $0.558. December '16 EPU: $0.65, up 14%. Revenues up 3% to $102.7 million. Distributable cash flow up 27% to $130 million ($0.83/unit). Pipeline volumes up 144% to 1.968 mbpd. Terminal storage volumes up 62% to 1.470 mbpd. Average pipeline revenue up 18% to $0.60 per barrel. Average terminal storage revenue down 5% to $0.40 per barrel. In October, distribution up 5% to $0.531. Agreed to pay general partner, Phillips 66, $1.3 billion to acquire seven crude oil and refined products pipeline systems and associated assets in Montana, New Jersey, Oklahoma, and Texas. Said acquisitions would immediately begin adding to its cash flow. |