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USG Corporation Message Board

sho261 10 posts  |  Last Activity: Sep 10, 2014 9:07 AM Member since: Mar 11, 2013
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  • Reply to

    PSX has raised midstream EBITDA

    by sho261 Sep 8, 2014 8:20 AM
    sho261 sho261 Sep 10, 2014 9:07 AM Flag

    Gotten ahead of itself? If you mean using current PE, PS, PB or whatever else; to me that's like driving your car looking in the rearview mirror. Totally irrelevant. If you think there is no more growth, then yes, I would agree that traditional metrics are valid and I would sell.

    PSXP has had only one acquisition since being public and with the mother ship's strategy to grow via midstream, PSXP is a no brainer. For me, being that my cost basis is $29 and change the distribution yield is getting more in line with other MLP's while I wait for the next acquisition. You want to own PSXP and not trade in my view as the yield will only go higher over time. GL

  • for 2018 to $2.3 billion from $1.5 billion. Gives PSXP a larger dropdown opportunity, and increases visibility to +20% distribution growth. You want to own and not trade PSXP IMHO.. GLA

  • Reply to

    Very impressive come back in PSXP unit price

    by clrodrick Aug 15, 2014 6:55 PM
    sho261 sho261 Aug 18, 2014 1:22 PM Flag

    ok.. the 50 has crossed above the 200 very bullish :)

  • Reply to

    Very impressive come back in PSXP unit price

    by clrodrick Aug 15, 2014 6:55 PM
    sho261 sho261 Aug 18, 2014 10:24 AM Flag

    The 50 day is close to crossing above the 200 day. Very bullish once that happens. Too much upside left in the tank IMO to be trading this short term. Look for at least another 3 year hold. GL

  • Reply to

    Beaumont facility the next asset..

    by sho261 Jul 30, 2014 2:19 PM
    sho261 sho261 Aug 7, 2014 9:23 AM Flag

    "My comment relates to their interest in the two pipelines generating more EBITDA than I think Beaumont generates"... You must know a lot about the Beaumont deal to make that comment.. EBITDA, revenues, etc. have not been made public. Would you kindly share the numbers?

    Here is the strategy driving the purchase:
    "The purchase supports the company’s midstream enhancement plan. Taylor said that the company seeks to increase volumes of crude oil movements from North America to Gulf Coast areas with an increase in exports of refined products. Considering this strategy, the new terminal is expected to be aptly positioned as it would not only allow serving the growing market, but also provide growth potential"
    .
    The Beaumont storage capacity terminal is strategically positioned on the U.S. Gulf Coast and makes deep water accessible. With this new terminal, Phillips 66 intends to serve its own refineries and also those on the U.S. Gulf Coast. It also provides multiple interconnections major refined product and crude oil pipelines which are capable of serving as many as 3.6 million barrels a day. The terminal has a storage capacity of 4.7 million barrels of crude oil and 2.4 million barrels of refined product. It also has two marine docks which have the potential to manage Aframax tankers and an additional barge dock as well. In addition to all this, the terminal also offers truck and rail loading as well as unloading facilities.
    Currently belonging to Chevron Corporation's member UNOCAL, the terminal is at a distance almost 60 miles or 96 kilometer from Phillips Westlake, Louisiana, the company’s nearest refinery, which holds a capacity of 239,400 barrels a day. The transaction, with which the company expects to boost its transportation and logistics assets, is anticipated to complete by the end of the third quarter of 2014, after regulatory approvals are received. The company has not yet disclosed the terms of the agreement.

    Sentiment: Strong Buy

  • Reply to

    Beaumont facility the next asset..

    by sho261 Jul 30, 2014 2:19 PM
    sho261 sho261 Aug 6, 2014 8:44 AM Flag

    Either listen to the CC or read the transcript. This is some of what was discussed. Once PSX completes the purchase (third quarter), the Beaumont terminal will be the largest PSX owns and PSXP did reference this asset as key to building their business around. The question was asked if this would happen later this year or first quarter of 2015 and of course they would not commit to a time. Obviously, management at both companies think Beaumont has "more bang".

  • Reply to

    Beaumont facility the next asset..

    by sho261 Jul 30, 2014 2:19 PM
    sho261 sho261 Aug 4, 2014 2:16 PM Flag

    What a great strategy: Let your sponsor buy a key asset for you, so you can build a large business around it. Talk about a no brainer.

  • Short CC but informative

  • sho261 sho261 Jul 30, 2014 9:32 AM Flag

    yes.. anytime there is a beat its an awesome quarter. If your time frame is longer than a week or two this is certainly not "over priced". "I see a drop". Brilliant Monday morning quarterbacking, seeing how its off 20% from the high. Just short the stock if you see a drop.

  • there is still at least another 3 year run left of 20%+ growth. Access to another $500 million for future expansion. GLA

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