Stock in Focus: Phillips 66 Partners LP (PSXP)

Company Profile:

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. The company is headquartered in Houston, Texas and currently employs 600 full-time employees.

Recent News:

The company announced second-quarter 2020 earnings of $255 million, or $1.05 per diluted common unit. Cash from operations was $215 million, and distributable cash flow was $218 million. Adjusted EBITDA was $269 million in the second quarter, compared with $321 million in the prior quarter.

On July 21, 2020, the board of directors of its general partner declared a second-quarter 2020 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. The quarterly distribution is payable Aug. 13, 2020, to unitholders of record as of July 31, 2020.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

PSXP’s strengths can be seen in its strong growth, strong profitability and better solvency compared with its peers. Its revenue and net income have increased over recent several years. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator. The RSI stands at 41.45 with positive bias. We rate Phillips 66 Partners LP (PSXP) a STRONG BUY.

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