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Phillips 66 Partners LP (PSXP)

NYSE - NYSE Delayed Price. Currency in USD
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35.91-0.17 (-0.47%)
At close: 4:00PM EDT

35.91 0.00 (0.00%)
After hours: 4:47PM EDT

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  • M
    Matt
    I understand what is going on. But please be aware that this algorithm will break multiple single stocks across oil and gas. Based on the target, pipes should be relatively robust. Do your DD. Know what you own and only hold the best. Full disclosure, in this category I am sweetest on PSXP...
  • M
    Matt
    Listed 4 analyst price target updates this morning. Dislike even numbers, so happy I missed one.
    5-3-21: Stifel analyst Selman Akol reiterated a Hold rating and $39 price target.
    Five revisions up over the past week give me confidence...
  • K
    Keith
    Sounds like on the call P66 will probably buyout PSXP in the next 1-2 years due to project that are available financially more favorable to P66 to do them and MLP not looking at much growth moving forward, along with the MLP environment has completely changed over the past 7 years.
  • G
    Gene
    Matt?
  • g
    gene
    Messy quarter but no surprises. Storm impacted volumes but profitability was in line as was coverage generally flat with last year's 1.2x (1.17 this quarter).
  • G
    Gerald
    Nice read from Livy Investment Research via Seeking Alpha. Valuation without DAPL is $36-$38. If DAPL continues operations, valuation is equivalent to $45-$48.
  • M
    Matt
    Decision on the turn being made now...
  • M
    Matt
    Distributions on units make MLPS a tax haven. I wonder if effectively doubling the capital gains tax rate on top earners in USA will cause a surge in MLP buying? This would be one way to hedge against higher taxes, and could allow those top earners to "ride out" tax storm...
    Bullish
  • g
    gene
    Today's decision by ACE pretty much puts to bed a DAPL shutdown until the EIS is completed next March..
  • F
    Faisal
    Boasberg announces today that DOJ has till May 3rd to give him an update on how long EIS will take and if DOJ will take any action against pipeline.
  • M
    Matt
    Please do your own DD, but thought I'd share the following:
    5-3-21: Mizuho: Price target raised from $30 to $34
    4-30-21: Raymond James: Issue Buy Rating ($36 price target)
    4-28-21: Wells Fargo: Price target raised to $32
    4-27-21: J.P. Morgan: Price target raised to $35
  • M
    Matt
    Need to go but noticed ALPS Adv/AMLP picked up another 500k units...on top of the 500k units they picked up previous month. So AMLP rebalancing is either in process or on near-term horizon. Pretty smart their part, will be a solid transaction for everyone involved long-term.
  • g
    gene
    If there is a roll up it will be a significant premium to today's price regardless of Dapl imo ..Dapl will be a factor in the price but not in the whether or not decision imo.
  • M
    Matt
    Know this is trading ex, but heads up to any new buyers - whole market this am was a pump-n-dump. Market goes red, this may go green...
  • J
    Joe
    DAPL is the largest pipeline out of the Bakken region, which produces about 1 million barrels of crude per day in North Dakota and Montana (Shutting this down would national security issue given the reopening need). My source says that this review will show that it is not effecting the environment/route under Oahe and the pipeline will continue to operate. It will operate until the review is completed which is in March 2022 and after the review, a legal permit will be issued. I am holding long on this one and collecting the nice dividend.
  • M
    Matt
    Makes no sense to swim against the current. The rising tide will lift all boats.
  • B
    Beans
    Who else is a bit nervous holding this today? I feel like I'm in Vegas...

    Given decision today, do we have a consensus that this will go +/-10-15% by this time tomorrow?
    Neutral
  • b
    brd2dth
    Divy declared - congrats all longs. See you at $48 - where it was last June with oil in the #30s
    Bullish
  • M
    Matt
    Add 2 more to list (now total 7 upgrades in 9d)
    5-4-21: RBC Capital: Buy rating + $37 price target
    5-3-21: Barclays: Hold rating + $33 price target
    Also for reference, the analyst consensus rating on Yahoo is wrong.
    No pointing fingers, but it is actually $35.38...
  • W
    William
    That freeze really hurt the last quarter and they wont make earnings I'm gonna double down after the drop. 200 shares since June going long, trying for 400.