This High-Yield Pipeline Stock Is a Bargain Buy [The Motley Fool]
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: The Motley Fool
Looking at the out-of-favor midstream sector for income stocks? This one has a low level of debt, a high yield, and a relatively cheap price. The giants in the midstream pipeline sector are bellwether Kinder Morgan, Inc. ( NYSE:KMI ) and limited partnership Enterprise Products Partners LP ( NYSE:EPD ) . However, relatively tiny Phillips 66 Partners ( NYSE:PSXP ) and its 5.6% yield may be the better deal for investors today. Here's why. Background on the business Phillips 66 Partners went public in 2013 . The purpose of the partnership was, essentially, to buy midstream assets from independent refiner and general partner Phillips 66 ( NYSE:PSX ) . This allowed parent Phillips 66 the opportunity to raise cash it could invest in its business while retaining control of vital assets, since it effectively controls the partnership. Phillips 66 Partners and its unitholders, meanwhile, benefit from a supportive parent that is willing to grow the partner
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