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Phillips 66 Partners (PSXP) Hikes Quarterly Payout for Q4
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Phillips 66 Partners LP announced the receipt of affiliation from the board of directors of its general partner to increase quarterly cash distribution.
The new payout — representing the fourth-quarter 2018 distribution — of 83.5 cents per common unit is higher than the distributions of prior quarter and the year-ago quarter by 5.4% and 23.2%, respectively. With this, the partnership since it’s the initial public offering in 2013 has hiked distributions for 21 successive quarters. Phillips 66 Partners has also accomplished its target of raising payout at a compound annual growth rate of 30% through 2018 since fourth-quarter 2013.
The increased distribution is expected to be paid on Feb 13, 2019, to unitholders as of Feb 1, 2019.
Investors should know that the consistent distribution hike of Phillips 66 Partners reflects stable fee-based revenues from its extensive midstream infrastructure that includes pipeline networks transporting raw crude, refined petroleum products and natural gas liquids.
Houston, TX-based Phillips 66 Partners — formed by Phillips 66 (PSX - Free Report) — is scheduled to report fourth-quarter 2018 results on Feb 8. The Zacks Consensus Estimate for the partnership’s fourth-quarter earnings is pegged at $1.08, representing a year-over-year increase of 30.1%.
RGC Resources has an average positive earnings surprise of 87.6% for the past four quarters.
TransCanada will likely record earnings growth of 2% in 2019.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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Phillips 66 Partners (PSXP) Hikes Quarterly Payout for Q4
Phillips 66 Partners LP announced the receipt of affiliation from the board of directors of its general partner to increase quarterly cash distribution.
The new payout — representing the fourth-quarter 2018 distribution — of 83.5 cents per common unit is higher than the distributions of prior quarter and the year-ago quarter by 5.4% and 23.2%, respectively. With this, the partnership since it’s the initial public offering in 2013 has hiked distributions for 21 successive quarters. Phillips 66 Partners has also accomplished its target of raising payout at a compound annual growth rate of 30% through 2018 since fourth-quarter 2013.
The increased distribution is expected to be paid on Feb 13, 2019, to unitholders as of Feb 1, 2019.
Investors should know that the consistent distribution hike of Phillips 66 Partners reflects stable fee-based revenues from its extensive midstream infrastructure that includes pipeline networks transporting raw crude, refined petroleum products and natural gas liquids.
Houston, TX-based Phillips 66 Partners — formed by Phillips 66 (PSX - Free Report) — is scheduled to report fourth-quarter 2018 results on Feb 8. The Zacks Consensus Estimate for the partnership’s fourth-quarter earnings is pegged at $1.08, representing a year-over-year increase of 30.1%.
Phillips 66 Partners LP Price
Phillips 66 Partners LP Price | Phillips 66 Partners LP Quote
Presently, the stock carries a Zacks Rank #2 (Buy). A couple of prospective energy players are RGC Resources Inc. (RGCO - Free Report) and TransCanada Corporation (TRP - Free Report) , with a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
RGC Resources has an average positive earnings surprise of 87.6% for the past four quarters.
TransCanada will likely record earnings growth of 2% in 2019.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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