Last $63.88 USD
Change Today +3.04 / 5.00%
Volume 373.7K
PSXP On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 12/17/14 All times are local (Market data is delayed by at least 15 minutes).

phillips 66 partners lp (PSXP) Snapshot

Open
$60.92
Previous Close
$60.84
Day High
$66.66
Day Low
$60.76
52 Week High
06/26/14 - $79.92
52 Week Low
12/18/13 - $33.49
Market Cap
4.7B
Average Volume 10 Days
301.2K
EPS TTM
$1.27
Shares Outstanding
38.7M
EX-Date
10/31/14
P/E TM
50.2x
Dividend
$1.27
Dividend Yield
1.75%
Current Stock Chart for PHILLIPS 66 PARTNERS LP (PSXP)

phillips 66 partners lp (PSXP) Related Bloomberg News

View More Bloomberg News

phillips 66 partners lp (PSXP) Related Businessweek News

No Related Businessweek News Found

phillips 66 partners lp (PSXP) Details

Phillips 66 Partners LP acquires, owns, develops, and operates crude oil, refined petroleum product, and natural gas liquids pipelines and terminals, as well as other transportation and midstream assets in the United States. Its assets include Clifton Ridge crude system, a crude oil pipeline, terminal, and storage system in Sulphur, Louisiana; Sweeny to Pasadena products system, a refined petroleum product pipeline, terminal, and storage system to distribute diesel and gasoline in Old Ocean, Texas; and Hartford Connector products system, a refined petroleum product pipeline, terminal, and storage system that distributes diesel and gasoline to third-party pipeline and terminal systems located in Hartford, Illinois. Phillips 66 Partners GP LLC is the general partner of the company. The company was founded in 2013 and is headquartered in Houston, Texas.

Founded in 2013

phillips 66 partners lp (PSXP) Top Compensated Officers

Chairman of Phillips 66 Partners GP LLC and C...
Total Annual Compensation: --
President of Phillips 66 Partners GP LLC and ...
Total Annual Compensation: --
Chief Financial Officer of Phillips 66 Partne...
Total Annual Compensation: --
Chief Operating Officer of Phillips 66 Partne...
Total Annual Compensation: $308.6K
Compensation as of Fiscal Year 2013.

phillips 66 partners lp (PSXP) Key Developments

Phillips 66 Partners Enters into First Amendment to its Credit Agreement with RBS Securities Inc

On November 21, 2014, Phillips 66 Partners LP (the "Partnership") entered into a first amendment to its credit agreement dated June 7, 2013, with RBS Securities Inc. as a joint lead arranger, JPMorgan Chase Bank, N.A. as the administrative agent, and several other commercial lending institutions in certain other roles and as lenders and letter of credit issuing banks. The amendment increases to $500 million from $250 million the amount available under the credit agreement and extends the termination date to November 21, 2019. The Partnership has the option to increase the overall capacity of the credit agreement by up to an additional $250 million for a total of $750 million, subject to, among other things, the consent of the existing lenders whose commitments will be increased or any additional lenders providing such additional capacity. The Partnership also has the option to extend the credit agreement for two additional one-year terms after November 21, 2019, subject to, among other things, the consent of the lenders holding the majority of the commitments and of each lender extending its commitment.

Phillips 66 Partners LP and Paradigm Energy Partners, LLC Announce Midstream Logistics Joint Ventures

Phillips 66 Partners LP and Paradigm Energy Partners, LLC announced that they have executed agreements to form two joint ventures to develop midstream logistics infrastructure in North Dakota. Consisting of two previously announced projects, the Sacagawea Pipeline (Pipeline JV) and Palermo Rail Terminal (Rail JV), the joint ventures are designed to enhance logistical options for crude oil transportation in the Bakken region. The Pipeline JV will own an 88% ownership interest in Sacagawea Pipeline, LLC, with the remaining 12% interest to be owned by Grey Wolf Midstream, LLC. Additionally, the Pipeline JV will own and construct a crude oil storage terminal and central delivery point for various crude gathering systems located in Keene, North Dakota (Paradigm CDP). The Sacagawea Pipeline project is a 76-mile pipeline being developed to deliver crude oil from various points in and around Johnson's Corner and the Paradigm CDP, located in McKenzie County, to destinations with take away options for both rail and pipeline in Palermo and Stanley, located in Mountrail County. In October, Paradigm recently extended an open season for the pipeline, which is expected to close on Dec. 15. Under the terms of the Pipeline JV Agreement, Phillips 66 Partners and Paradigm will each own a 50% interest in the joint venture and will fund their proportionate share of the construction costs. Paradigm will construct the pipeline and Phillips 66 Partners will be the operator. The Rail JV will own the Palermo Rail Terminal. Located on a 710-acre site in Palermo, the crude oil rail-loading facility is designed to have an initial capacity of 100,000 barrels per day, with the flexibility to be expanded to 200,000 barrels per day. The terminal will have direct access to the Sacagawea Pipeline and provide East and West Coast rail access for third-party shippers through the BNSF railway. Under the terms of the Rail JV Agreement, Phillips 66 Partners will own between a 50 to 70% interest with Paradigm's ownership percentage subject to the achievement of certain milestones associated with the Pipeline JV. Final ownership interests will be determined prior to closing, and each party will fund their proportionate share of the construction costs. Phillips 66 Partners will construct and operate the rail terminal. The transactions are expected to close in the fourth quarter of 2014 with total capital cost for the joint ventures estimated to be approximately $300 million, subject to the terms set in the final agreements. Both the pipeline and rail terminal are expected to commence commercial operations in the first quarter of 2016.

Phillips 66 Partners LP Announces Unaudited Consolidated and Parent Company Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Phillips 66 Partners LP announced unaudited consolidated and parent company earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, on parent basis, the company’s total revenues were $53.4 million compared to $21.2 million a year ago. Net income was $29.4 million compared to $11.9 million a year ago. Adjusted EBITDA was $35.0 million compared to $13.2 million a year ago. Income before income taxes was $29.5 million against $12.0 million a year ago. Net cash provided by operating activities was $13.6 million against $12.2 million a year ago. Partnership capital expenditures were $2.8 million against $1.5 million a year ago. For the nine months, on parent basis, the company’s total revenues were $146.3 million compared to $51.2 million a year ago. Net income was $79.8 million compared to $28.9 million a year ago. Adjusted EBITDA was $91.0 million compared to $30.4 million a year ago. Income before income taxes was $80.4 million against $29.1 million a year ago. Net cash provided by operating activities was $43.5 million against $44.5 million a year ago. Partnership capital expenditures were $11.3 million against $3.9 million a year ago. For the quarter, on consolidated basis, the company’s total revenues were $53.4 million compared to $50.5 million a year ago. Net income was $29.4 million compared to $27.6 million a year ago. EBITDA was $35.0 million compared to $31.3 million a year ago. Income before income taxes was $29.5 million against $27.8 million a year ago. Net cash provided by operating activities was $34.8 million against $22.7 million a year ago. Total Capital expenditures were $2.8 million against $7.7 million a year ago. Net income attributable to the partnership was $29.4 million compared to $11.9 million for the same period last year. Net income attributable to the partnership per limited partner unit—basic and diluted was 0.37 compared to 0.17 for the same period last year. Adjusted EBITDA was $35.0 million compared to $13.2 million a year ago. For the nine months, on consolidated basis, the company’s total revenues were $162.2 million compared to $187.2 million a year ago. Net income was $89.5 million compared to $99.7 million a year ago. EBITDA was $105.0 million compared to $114.8 million a year ago. Income before income taxes was $90.1 million against $100.2 million a year ago. Net cash provided by operating activities was $95.7 million against $101.2 million a year ago. Capital expenditures were $12.8 million against $36.5 million a year ago. Net income attributable to the partnership was $79.8 million compared to $28.9 million for the same period last year. Net income attributable to the partnership per limited partner unit—basic and diluted common units was $1.04 compared to $0.40 for the same period last year. Adjusted EBITDA was $94.1 million compared to $32.0 million a year ago.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
PSXP:US $63.88 USD +3.04

PSXP Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Genesis Energy LP $42.66 USD +2.14
MPLX LP $63.02 USD +3.14
NuStar Energy LP $55.53 USD +1.71
Tesoro Logistics LP $54.35 USD +3.03
Valero Energy Partners LP $37.07 USD +0.56
View Industry Companies
 

Industry Analysis

PSXP

Industry Average

Valuation PSXP Industry Range
Price/Earnings 48.4x
Price/Sales 34.6x
Price/Book 7.8x
Price/Cash Flow 46.2x
TEV/Sales -- Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact PHILLIPS 66 PARTNERS LP, please visit www.phillips66partners.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.