NYSE:PSXP

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Phillips 66 Partners

Executive Summary

Phillips 66 Partners LP owns, operates, develops, and acquires midstream assets. More Details


Snowflake Analysis

Undervalued with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has Phillips 66 Partners's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PSXP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-7.2%

PSXP

-6.8%

US Oil and Gas

-4.1%

US Market


1 Year Return

-56.4%

PSXP

-48.3%

US Oil and Gas

12.0%

US Market

Return vs Industry: PSXP underperformed the US Oil and Gas industry which returned -48.3% over the past year.

Return vs Market: PSXP underperformed the US Market which returned 12% over the past year.


Shareholder returns

PSXPIndustryMarket
7 Day-7.2%-6.8%-4.1%
30 Day5.9%-3.1%-0.2%
90 Day-12.2%-17.3%2.8%
1 Year-51.8%-56.4%-45.0%-48.3%14.6%12.0%
3 Year-38.8%-51.0%-49.5%-56.2%35.8%26.8%
5 Year-47.8%-61.6%-46.6%-57.0%75.2%55.6%

Price Volatility Vs. Market

How volatile is Phillips 66 Partners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Phillips 66 Partners undervalued compared to its fair value and its price relative to the market?

29.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PSXP ($24.41) is trading below our estimate of fair value ($39.79)

Significantly Below Fair Value: PSXP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PSXP is good value based on its PE Ratio (5.7x) compared to the US Oil and Gas industry average (7.3x).

PE vs Market: PSXP is good value based on its PE Ratio (5.7x) compared to the US market (18.1x).


Price to Earnings Growth Ratio

PEG Ratio: PSXP is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: PSXP is overvalued based on its PB Ratio (2.6x) compared to the US Oil and Gas industry average (0.7x).


Next Steps

Future Growth

How is Phillips 66 Partners forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

5.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PSXP's forecast earnings growth (5.8% per year) is above the savings rate (2.2%).

Earnings vs Market: PSXP's earnings (5.8% per year) are forecast to grow slower than the US market (22% per year).

High Growth Earnings: PSXP's earnings are forecast to grow, but not significantly.

Revenue vs Market: PSXP's revenue (7.9% per year) is forecast to grow slower than the US market (10% per year).

High Growth Revenue: PSXP's revenue (7.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PSXP's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Phillips 66 Partners performed over the past 5 years?

38.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PSXP has high quality earnings.

Growing Profit Margin: PSXP's current net profit margins (87.6%) are higher than last year (51%).


Past Earnings Growth Analysis

Earnings Trend: PSXP's earnings have grown significantly by 38.7% per year over the past 5 years.

Accelerating Growth: PSXP's earnings growth over the past year (66.9%) exceeds its 5-year average (38.7% per year).

Earnings vs Industry: PSXP earnings growth over the past year (66.9%) exceeded the Oil and Gas industry -35%.


Return on Equity

High ROE: Whilst PSXP's Return on Equity (30.28%) is high, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is Phillips 66 Partners's financial position?


Financial Position Analysis

Short Term Liabilities: PSXP's short term assets ($128.0M) do not cover its short term liabilities ($455.0M).

Long Term Liabilities: PSXP's short term assets ($128.0M) do not cover its long term liabilities ($3.5B).


Debt to Equity History and Analysis

Debt Level: PSXP's debt to equity ratio (114%) is considered high.

Reducing Debt: PSXP's debt to equity ratio has reduced from 338.7% to 114% over the past 5 years.

Debt Coverage: PSXP's debt is well covered by operating cash flow (28%).

Interest Coverage: PSXP's interest payments on its debt are well covered by EBIT (4.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Phillips 66 Partners's current dividend yield, its reliability and sustainability?

14.34%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PSXP's dividend (14.34%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: PSXP's dividend (14.34%) is in the top 25% of dividend payers in the US market (4.78%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PSXP has been paying a dividend for less than 10 years.

Growing Dividend: PSXP's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (81.9%), PSXP's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PSXP's dividends in 3 years are forecast to be covered by earnings (82.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Greg Garland (63 yo)

7.58yrs

Tenure

Mr. Greg C. Garland serves as the Chairman and Chief Executive Officer at Phillips 66 Partners GP LLC, the General Partner at Phillips 66 Partners LP since March 2013. Mr. Garland has been the Chairman of ...


Leadership Team

NamePositionTenureCompensationOwnership
Greg Garland
Chairman & CEO of Phillips 66 Partners GP LLC7.58yrsno data0.015%
$ 854.5k
Kevin Mitchell
VP, CFO & Director of Phillips 66 Partners GP LLC4.75yrsno data0.0044%
$ 244.1k
Rosy Zuklic
VP & COO of Phillips 66 Partners GP LLC1.75yrsUS$1.21m0.0033%
$ 182.8k
Chukwuemeka Oyolu
VP & Controller of Phillips 66 Partners GP LLC5.83yrsno datano data
Paula Johnson
VP, General Counselno datano data0.00044%
$ 24.5k
Robert Herman
VP & Director of Phillips 66 Partners GP LLC6.33yrsno datano data
Timothy Roberts
VP of Operations & Director of Phillips 66 Partners GP LLC4.5yrsno datano data

5.8yrs

Average Tenure

57yo

Average Age

Experienced Management: PSXP's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Greg Garland
Chairman & CEO of Phillips 66 Partners GP LLC7.58yrsno data0.015%
$ 854.5k
Kevin Mitchell
VP, CFO & Director of Phillips 66 Partners GP LLC4.75yrsno data0.0044%
$ 244.1k
Paula Johnson
VP, General Counselno datano data0.00044%
$ 24.5k
Robert Herman
VP & Director of Phillips 66 Partners GP LLC6.33yrsno datano data
Timothy Roberts
VP of Operations & Director of Phillips 66 Partners GP LLC4.5yrsno datano data
Mark Haney
Independent Lead Director of Phillips 66 Partners GP LLC2.75yrsUS$166.16k0.014%
$ 757.5k
Charles Johnson
Independent Director of Phillips 66 Partners GP LLCno datano data0.0035%
$ 195.1k
Joseph O'Toole
Independent Director of Phillips 66 Partners GP LLC7.25yrsUS$181.53k0.015%
$ 854.5k
Phillip Bairrington
Independent Director of Phillips 66 Partners GP LLC4.17yrsUS$173.03k0.018%
$ 1.0m

4.8yrs

Average Tenure

61yo

Average Age

Experienced Board: PSXP's board of directors are considered experienced (4.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PSXP insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Phillips 66 Partners LP's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Phillips 66 Partners LP
  • Ticker: PSXP
  • Exchange: NYSE
  • Founded: 2013
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$5.574b
  • Shares outstanding: 228.34m
  • Website: https://www.phillips66partners.com

Location

  • Phillips 66 Partners LP
  • 2331 CityWest Boulevard
  • Houston
  • Texas
  • 77042
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PSXPNYSE (New York Stock Exchange)YesCommon UnitsUSUSDJul 2013
W66ADB (Deutsche Boerse AG)YesCommon UnitsDEEURJul 2013

Biography

Phillips 66 Partners LP owns, operates, develops, and acquires midstream assets. It offers transportation, terminaling, processing, and storage and fractionation of refined petroleum products and natural g ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/30 04:42
End of Day Share Price2020/10/29 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.