Phillips 66 partners rewards investors with distribution hike zacks. Jul 23, 20 headquartered in houston, texas, phillips 66 partners is a growthoriented, traditional master limited partnership formed by phillips 66 to own, operate, develop and acquire primarily feebased crude oil, refined petroleum product and natural gas liquids ngls pipelines and terminals and other transportation and midstream assets. Consistent 30% cagr distribution growth solves a lot of problems. Phillips 66 partners psxp q1 earnings beat, revenues miss. View psxp business summary and other industry information. This represents a 4% increase compared to the firstquarter 2019 distribution.
Find the latest phillips 66 partners lp psxp stock quote, history, news and other vital information to help you with your stock trading and investing. Phillips 66s general partner economic interest and incentive distribution rights were eliminated in august 2019. During the past 12 months, phillips 66 s average book value per share growth rate was 9. Phillips 66 manages and operates phillips 66 partners as its noneconomic general partner. May 19, 2020 phillips 66 partners lp company facts, information and stock details by marketwatch. Phillips 66 partners lp announced that an agreement has been reached for it to acquire a natural gas liquids ngl logistics system in southeast louisiana currently owned by chevron.
Adams is the former president and ceo of chemical market associates inc. Q2 2020 phillips 66 partners lp earnings release jul 24, 2020. Phillips 66s management is guiding for distributions to grow at a 30% cagr through 2018. We will strengthen our alliance with customers and manufacturers by refining our organizational structure, enhancing our products. Phillips 66 annual meetings typically occur in may dates and times will be posted on our website. An attendee must please bring a photo id and proof of stock ownership. He became the fourth generation of smith men to work there. With a portfolio of midstream, chemicals, refining, and marketing and specialties businesses, the company processes, transports, stores and markets fuels and products globally.
Phillips 66 and phillips 66 partnerss elimination of incentive distribution rights. Phillips 66 partners reports thirdquarter 2019 earnings business wire. Psxp has excellent investment grade access to the debt and equity markets to easily fund future drop. Phillips 66 and phillips 66 partners announce elimination. Phillips 66 partners cheers unitholders with distribution hike. Phillips 66 partners to acquire south louisiana ngl logistics. Headquartered in houston, texas, phillips 66 partners is a growthoriented master limited partnership formed by phillips 66 to own, operate, develop and acquire primarily feebased crude oil. Events and presentations phillips 66 partners psxp. Llc and rbc capital markets, llc are acting as the joint bookrunning managers for this offering, and bnp paribas securities corp. Welcome to the phillips 66 partners investors site. Phillips 66 partners lp company facts, information and stock details by marketwatch. Four generations of the smith family at phillips 66.
New york stock quote phillips 66 bloomberg markets. If you have not received your 2019 phillips 66 partners, l. Phillips 66 partners lp might not have the fattest distribution yield among master limited partnerships, but the company is expected to grow its payout by a compound annual rate of 30% through 2018. Headquartered in houston, texas, phillips 66 partners is a growthoriented, traditional master limited partnership formed by phillips 66 to own, operate, develop and acquire primarily feebased crude oil, refined petroleum product and natural gas. Bo smith followed in some familiar and familial footsteps when he was hired on at the borger refinery. Psxp announces that the board of directors of its general partner declared a. Phillips 66 s book value per share for the quarter that ended in mar. Phillips 66 partners to acquire south louisiana ngl. Psx will sell a pipeline and its remaining 75 percent interest in other assets to its master limited partnership, phillips 66 partners lp nyse.
Tax information resources phillips 66 partners psxp. Psxp phillips 66 partners lp summary, stock quote and. This highyield pipeline stock is a bargain buy the motley fool. Psxp today announced execution of a definitive agreement to eliminate all of phillips 66 s incentive distribution rights idrs and general partner gp economic interests in psxp in exchange for 101 million newly issued psxp common units. Phillips 66 is a diversified energy manufacturing and logistics company. Phillips 66 partners lp engages in the ownership, operation, development, and acquisition of crude oil, refined petroleum product and natural gas liquids pipelines and terminals, and other transportation and midstream assets. Increase in net tangible book value per unit attributable to purchasers in the offering. Phillips 66 partners declares quarterly cash distribution business.
Detailed price information for phillips 66 partners lp psxpn from the globe. During the past 3 years, the average book value per share growth rate was 9. In this section you will find presentations and conference calls, governance details, unitholder information and financial reports. The chart shows a balanced list of partners advising phillips 66. Phillips 66 partners psxp is wellpositioned to increase distributions in the coming quarters on a huge backlog of organic growth midstream. He serves on the board of directors of phillips 66, and trecora resources. Psxp phillips 66 partners lp common units representing. Phillips 66 are to generate stable and predictable cash flows and increase our quarterly cash distribution per unit over time. Phillips 66 partners increases quarterly cash distribution business wire. General partners right to reset incentive distribution levels. Asset drop down to phillips 66 partners does not meaningfully change credit profile moodys investors service 10 oct 2017.
Oct 10, 2017 headquartered in houston, texas, phillips 66 partners is a growthoriented master limited partnership formed by phillips 66 to own, operate, develop and acquire primarily feebased crude oil. Mar 18, 2020 phillips 66 partners announces date change. Nyse realtime stock quotes, news and financial information from cnbc. New york including stock price, stock chart, company news, key statistics, fundamentals and company profile. Phillips 66 partners to announce firstquarter financial results. Phillips 66 partners lp psxpn quote the globe and mail. As of last august 2019, psx announced that it will eliminate all of its incentive distribution rights idrs and general partner gp economic. Mar 18, 2020 phillips 66 partners announces date change for firstquarter financial results announcement pr. Psxp stock research, profile, news, analyst ratings, key statistics, fundamentals, stock price, charts, earnings, guidance and peers. This site is designed to give institutional and individual investors 24hour access to relevant financial and operating information about our company. Phillips 66 to announce firstquarter financial results. Phillips 66 partners lp and its general partner phillips 66 partners gp llc entered into an equity distribution agreement to offer and sell up to.
The information statement will describe phillips 66, including the risks of owning phillips 66 common stock, and other details regarding the distribution. Phillips 66 partners assets include the clifton ridge crude. Phillips 66 partners investor relations individual investors. During the past 5 years, the average book value per share growth rate was 7.
The quarterly distribution is payable may 14, 2020, to unitholders of record. Directors and executive officers of phillips 66 partners gp llc. Cmai, 19972011 and chief chemical advisor for its successor ihs markit 2011. Moodys investors service 10 oct 2017 issuer comment phillips 66. Note that general partner phillips 66 is entitled to incentive payments as phillips 66 partners distribution grows, which increases the partnerships cost of capital. Phillips 66 partners declares quarterly cash distribution. It also provides terminals and storages for oil and petroleum products.
Asset drop down to phillips 66 partners does not meaningfully change credit profile. Phillips 66 partners lp, headquartered in houston, texas, is a delaware limited partnership formed in 20 by phillips 66 company and phillips 66 partners gp llc our general partner, both wholly owned subsidiaries of phillips 66. New york stock quote phillips 66 partners lp bloomberg. Headquartered in houston, texas, phillips 66 partners is a growthoriented, traditional master limited partnership formed by phillips 66 to own, operate, develop and acquire primarily feebased crude oil, refined petroleum product and natural gas liquids ngls pipelines and terminals and other transportation and midstream assets.
Psx and phillips 66 partners psxp or partnership nyse. All content is posted anonymously by employees working at phillips 66. Phillips 66 operates as an energy manufacturing and logistics company. Diverse and dynamic, phillips 66 is a multifaceted energy manufacturing and logistics company that produces, refines and delivers energy worldwide to homes, vehicles, aircraft and businesses. Phillips 66 partners buys phillips 66s standish pipeline. Our primary business objectives are to generate stable and predictable cash flows and increase our quarterly cash distribution per unit over time. Please use the below link to create an online account and you. Route 66, was introduced in 1930 in a black and orange color scheme that would last nearly thirty years. Headquartered in houston, texas, phillips 66 partners is a growthoriented, traditional master limited partnership formed by phillips 66 to own, operate, develop and acquire primarily feebased crude oil, refined petroleum product and natural gas liquids ngl pipelines and terminals and. Upon repositioning, phillips 66 will offer a unique approach to downstream integration, comprising segmentleading refining and marketing, midstream and chemicals businesses, while. To return to the application, please click the button below. Phillips 66 partners declares quarterly cash distribution business wire apr1420 05. Yes, phillips 66 partners expects to pay a quarterly distribution. Phillips 66 investors ok climate change study of gulf coast petrochem plants.
Update to credit analysis increasing scale with asset drop downs. Proxies will be sent to shareholders 34 weeks prior to the meeting, but if you do not receive one, call 8005791639 to request one. Phillips 66 partners lp psxp stock price, quote, history. On july 26, 20, we completed our initial public offering, and. Phillips 66 partners lp master limited partnership ticker. Phillips 66 partners increases quarterly cash distribution phillips. Phillips 66s book value per share for the quarter that ended in mar. P tax package by march 15, 2020, please call k1 support at 8558179891. Phillips 66 partners declares quarterly cash distribution phillips. Phillips 66 partners declares quarterly cash distribution apr. P owns, operates, develops,and acquires crude oil, refined petroleum product and natural gas liquids ngl pipelines and terminals and. Phillips 66 partners names female executive as new coo to.
The company backs that payout with a topnotch financial profile. In the united states, the company operates conoco, phillips 66 and 76 stations. Psxp stock price phillips 66 partners lp stock quote u. Briefphillips 66 partners announces 5 percent increase in quarterly cash distribution. Phillips 66 partners shows consistent growth in first quarter.
Et on businesswire bzx phillips 66 partners announces date change for firstquarter financial results. Phillips 66 partners currently pays its investors an attractive distribution that yields 6. In addition, phillips 66 partners lp has a vgm score of c this is a weighted average of the individual style scores which allow you to focus on the stocks that best fit your personal trading style. Phillips 66s general partner economic interest and incentive distribution rights. Psxp phillips 66 partners lp summary, stock quote and news. Oldfashioned phillips 66 station in bassett, nebraska. Apr 21, 2020 phillips 66 partners declares quarterly cash distribution pr newswires.
Refiner phillips 66 quarterly profit halves reuters. In 1959, phillips replaced these colors with red, white and black, the one still deployed. Phillips 66 partners, the companys master limited partnership, is integral to the portfolio. Psxp began trading on the new york stock exchange on july 23, 20. Cmai, 19972011 and chief chemical advisor for its successor ihs markit 20112017. Phillips 66 partners lp engages in the ownership, operation, development, and acquisition of crude oil, refined petroleum product and natural gas liquids pipelines and terminals, and other. Active lawyers the chart shows a balanced list of partners advising phillips 66 partners lp based on pbv monitors analyzed transactions. May 04, 2015 phillips 66 s management is guiding for distributions to grow at a 30% cagr through 2018.