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Phillips 66 Partners LP (PSXP) owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids pipelines and terminals, as well as other transportation and midstream assets in the United States.
Its principal 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.
The companys principal assets also consist of Gold Line products system, a refined petroleum product pipeline system that includes 4 terminals located in Wichita, Kansas; Kansas City, Kansas; Jefferson City, Missouri; and Cahokia, Illinois.
In addition, it operates 2 refinery-grade propylene storage spheres located in Medford, Oklahoma; Bayway Rail Rack, a 4-track and 120-rail-car crude oil receiving facility, which is located in Linden, New Jersey; Ferndale Rail Rack, a 2-track and 54-rail-car crude oil receiving facility that is located in Ferndale, Washington; Cross-Channel Connector project, a refined petroleum product pipeline, which provides shippers with a connection from Pasadena terminal to third-party systems with water access on the Houston Ship Channel; and Eagle Ford Gathering System project, which constructs a crude oil gathering system that consists of 2 pipelines and a storage facility in Helena and Tilden, Texas. Phillips 66 Partners GP LLC operates as the general partner of Phillips 66 Partners LP.
Shares are heading higher in an upward trendline shown in blue. Higher share prices are expected for this stock. Note that the firm pays $1.87 in dividend giving it a yield of 2.97%.
52-weeks Trading Range: $40.00 - $76.95
Entry Point: $62.10
Stp Loss: $58.90
Target Price: $68.20
PSXP closed at $57.00.
