Phillips 66 Partners LP owns, operates, develops, and acquires midstream assets. It offers transportation, terminaling, processing, stevedoring, storage, and fractionation of crude oil, refined petroleum products, and natural gas liquids. The company was founded in 2013 and is headquartered in Houston, Texas. Phillips 66 Partners LP is a subsidiary of Phillips 66 Project Development Inc.
IPO Year: 2013
Exchange: NYSE
Website: phillips66partners.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/12/2022 | $41.00 → $43.00 | Neutral | Mizuho |
| 11/1/2021 | Outperform → Market Perform | Raymond James | |
| 10/28/2021 | $41.00 | Outperform → Neutral | Credit Suisse |
| 10/6/2021 | $38.00 → $39.00 | Equal-Weight | Barclays |
| 7/21/2021 | $36.00 → $41.00 | Outperform | Raymond James |
| 6/24/2021 | $37.00 → $38.00 | Equal-Weight | Wells Fargo |
Reported second-quarter earnings of $225 million and adjusted EBITDA of $337 million Announced quarterly distribution of $0.875 per common unit Phillips 66 Partners LP (NYSE:PSXP) announces second-quarter 2021 earnings of $225 million, or $0.91 per diluted common unit. Cash from operations was $286 million, and distributable cash flow was $267 million. Adjusted EBITDA was $337 million in the second quarter, compared with $289 million in the prior quarter. "This quarter we operated well and delivered solid financial performance," said Greg Garland, Phillips 66 Partners Chairman and CEO. "Our results reflect higher throughput on our wholly owned and joint venture assets. During the quar
Phillips 66 Partners (NYSE:PSXP) has changed the time of its conference call to discuss second-quarter earnings. The conference call webcast will now be held at 3 p.m. EDT on Tuesday, Aug. 3, 2021. At that time, the company's executive management will discuss the partnership's second-quarter 2021 financial results, which will be released earlier that day, and provide an update on strategic initiatives. To access the webcast, go to the Events and Presentations section of the Phillips 66 Partners Investors site, https://unitholder.phillips66partners.com/investors. A replay of the webcast will be archived on the Events and Presentations page approximately two hours after the event, and a tran
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OVERLAND PARK, KS / ACCESSWIRE / March 16, 2022 / TortoiseEcofin today released additional information regarding the Ecofin Global Digital Payments Infrastructure Index quarterly rebalance for the first quarter of 2022. In addition to the announced changes on March 11, 2022, QIWI Plc will be removed from the index following the close of trading on March 18, 2022. In total, the following changes will become effective.Ecofin Global Digital Payments Infrastructure Index SM(TPMT/TPAYMENT)ActionCompanyTickerDeletionYiren Digital LtdYRD USDeletionBoku IncBOKU LNDeletionQIWI PlcQIWI USAdditionWise PLCWISE LNFull constituent list for TPAYMENT Index from the previous quarter rebalance can be found he
OVERLAND PARK, KS / ACCESSWIRE / March 11, 2022 / TortoiseEcofin today announced upcoming additions and deletions to its indices as part of its regular quarterly rebalancing for the first quarter of 2022. Following the close of trading on March 18, 2022, the indices will be rebalanced and as a result, the following changes will become effective.Ecofin Global Water ESG Index SM(EGWESG/EGWESGT)ActionCompanyTickerDeletionAalberts NVAALB NADeletionSulzer AGSUN SWAdditionKitz Corp6498 JPAdditionLixil Corp5938 JPEcofin Global Digital Payments Infrastructure Index SM(TPMT/TPAYMENT)ActionCompanyTickerDeletionYiren Digital LtdYRD USDeletionBoku IncBOKU LNAdditionWise PLCWISE LNTortoise Decarbonizatio
LEAWOOD, KS / ACCESSWIRE / March 8, 2022 / TortoiseEcofin today announced that Phillips 66 Partners LP (NYSE:PSXP) will be removed from the Tortoise MLP Index® (TMLP), and the Tortoise North American Pipeline IndexSM (TNAP), as a result of the approved merger with Phillips 66 (NYSE:PSX). Due to the merger, PSXP will be removed from both indices at market open on Wednesday, March 9, 2022.For both Tortoise MLP Index® (TMLP), and the Tortoise North American Pipeline IndexSM (TNAP), PSXP will be removed with a special rebalancing.Special rebalancings in TMLP are triggered by corporate actions such as mergers, bankruptcies, liquidations, and conversions in which the resulting weight of a single c
Phillips 66 Partners LP (NYSE:PSXP) ("the Partnership") has filed its annual report on Form 10-K for the fiscal year ended Dec. 31, 2021, with the Securities and Exchange Commission (SEC). The filing can be viewed through the "Investors" area of the Partnership's website at www.phillips66partners.com by selecting the "SEC Filings" link under the "Financial Information" tab, as well as on the SEC's website at www.sec.gov. Unitholders may request a hard copy of the report, which includes the Partnership's audited financial statements, free of charge. Requests should be submitted in writing to Phillips 66 – 411 S. Keeler Ave., Bartlesville, OK 74003. About Phillips 66 Partners Headquartered
Fourth-quarter earnings of $286 million and adjusted EBITDA of $400 million Reached agreement for Phillips 66 to acquire all publicly held units Phillips 66 Partners LP (NYSE:PSXP) announces fourth-quarter 2021 earnings of $286 million, or $1.19 per diluted common unit. Cash from operations was $302 million, and distributable cash flow was $267 million. Adjusted EBITDA was $400 million in the fourth quarter, compared with $367 million in the prior quarter. On Jan. 18, 2022, the general partner's board of directors declared a fourth-quarter 2021 cash distribution of $0.875 per common unit. Financial Results Phillips 66 Partners' fourth-quarter 2021 earnings were $286 million, compare
Phillips 66 Partners LP (NYSE:PSXP) announces that the board of directors of its general partner declared a fourth-quarter 2021 cash distribution of $0.875 per common unit. The quarterly distribution is payable Feb. 14, 2022, to unitholders of record as of Jan. 31, 2022. About Phillips 66 Partners Headquartered in Houston, Phillips 66 Partners is a master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com. TAX CONSIDERATIONS This release is intended to be a qualified notice to
Third-quarter earnings of $242 million and adjusted EBITDA of $367 million Recently entered into agreement for Phillips 66 to acquire all publicly held units Phillips 66 Partners LP (NYSE:PSXP) announces third-quarter 2021 earnings of $242 million, or $1.00 per diluted common unit. Cash from operations was $338 million, and distributable cash flow was $268 million. Adjusted EBITDA was $367 million in the third quarter, compared with $337 million in the prior quarter. On Oct. 19, 2021, the general partner's board of directors declared a third-quarter 2021 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. Financial Results Phillips 66 Partners' thi
Phillips 66 Partners (NYSE:PSXP) is canceling its webcast scheduled for 2 p.m. EDT on Friday, Oct. 29, to discuss its third-quarter 2021 financial results. The Partnership will release its third-quarter 2021 financial results on Oct. 29, 2021. About Phillips 66 Partners Headquartered in Houston, Phillips 66 Partners is a master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20211027005636/en/
All-stock transaction at a fixed exchange ratio of 0.50 PSX shares for each PSXP common unit Simplifies governance and corporate structure Transaction expected to close in the first quarter of 2022 Phillips 66 (NYSE:PSX) and Phillips 66 Partners ("PSXP" or the "Partnership") (NYSE:PSXP) announced today that they have entered into a definitive agreement for Phillips 66 to acquire all of the publicly held common units representing limited partner interests in the Partnership not already owned by Phillips 66 and its affiliates. The agreement, expected to close in the first quarter of 2022, provides for an all-stock transaction in which each outstanding PSXP common unitholder would rece
Phillips 66 Partners LP (NYSE:PSXP) announces that the board of directors of its general partner declared a third-quarter 2021 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. The quarterly distribution is payable Nov. 12, 2021, to unitholders of record as of Oct. 29, 2021. About Phillips 66 Partners Headquartered in Houston, Phillips 66 Partners is a master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com. TAX CONSIDERATIONS This releas
Mizuho reiterated coverage of Phillips 66 Partners with a rating of Neutral and set a new price target of $43.00 from $41.00 previously
Raymond James downgraded Phillips 66 Partners from Outperform to Market Perform
Credit Suisse downgraded Phillips 66 Partners from Outperform to Neutral and set a new price target of $41.00
Barclays reiterated coverage of Phillips 66 Partners with a rating of Equal-Weight and set a new price target of $39.00 from $38.00 previously
Raymond James reiterated coverage of Phillips 66 Partners with a rating of Outperform and set a new price target of $41.00 from $36.00 previously
Wells Fargo reiterated coverage of Phillips 66 Partners with a rating of Equal-Weight and set a new price target of $38.00 from $37.00 previously
Mizuho reiterated coverage of Phillips 66 Partners with a rating of Neutral and set a new price target of $41.00 from $34.00 previously
Wells Fargo reiterated coverage of Phillips 66 Partners with a rating of Equal-Weight and set a new price target of $32.00 from $28.00 previously
Credit Suisse Group reiterated coverage of Phillips 66 Partners with a rating of Outperform and set a new price target of $33.00 from $39.00 previously
Mizuho resumed coverage of Phillips 66 Partners with a rating of Neutral and set a new price target of $27.00 from $32.00 previously
Phillips 66 Partners (NYSE:PSXP) reported quarterly earnings of $1.19 per share. This is a 48.75 percent increase over earnings of $0.80 per share from the same period last year.
Although Dow Jones dipped more than 300 points on Thursday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform. Phillips 66 Partners The Trade: Phillips 66 Partners LP (NYSE:PSXP) Director David Phillip Bairrington acquired
Mizuho analyst Gabriel Moreen maintains Phillips 66 Partners (NYSE:PSXP) with a Neutral and raises the price target from $41 to $43.