Phillips 66 Partners LP: Consistent 30% CAGR Distribution Growth Solves A Lot Of Problems [Seeking Alpha]
Phillips 66 Partners LP Common Units representing limited partner interest in the Partnership (PSXP)
Last phillips 66 partners lp common units representing limited partner interest in the partnership earnings: 5/1 07:20 am
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Source: Seeking Alpha
Phillips 66 Partners LP: Consistent 30% CAGR Distribution Growth Solves A Lot Of ProblemsSummaryPhillips 66 Partners was spun out of its parent company Phillips 66 on July 23, 2013. It has increased its distribution every quarter since.It's not as well known as its larger peers Kinder Morgan or Enterprise Product Partners and its organizational structure could be better.The MLP recently posted Q4 results and raised its distribution by 5.4%. That's in the context of an incredible 30% compound annual distribution growth rate over the last 5 years.We finish this three part series on the best risk-adjusted MLP opportunities with Phillips 66 Partners which trades less than 10% from our target buy price.Consistent with our goal to provide supplemental education, I include a few key differentiating facts between MLPs and REITs which I often see confused.
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