LONDON, UK / ACCESSWIRE / October 26, 2017 / Pro-Trader Daily takes a closer look at Phillips 66 Partners L.P. (NYSE: PSXP) as the Company's stock will begin trading ex-dividend on October 30, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 27, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On October 18, 2017, Phillips 66 Partners announced that the Board of Directors of its general partner declared Q3 2017 cash distribution of $0.646 per common unit. The dividend distribution represents an increase of 5% over the previous quarterly distribution of $0.615 per unit and a 22% over Q3 2016 distribution. Phillips 66 Partners stated that the distribution increase is consistent with previous guidance that the partnership expects a 30% compound annual distribution growth rate from Q4 2013 through 2018. The Q3 distribution is payable November 13, 2017, to unit-holders of record as of October 31, 2017.

Phillips 66 Partners' indicated dividend represents a yield of 5.18%, which is more than double compared to the average dividend yield of 2.34% for the Basic Materials sector. This is the 16th consecutive quarterly distribution increase since Phillips 66 Partners' initial public offering in 2013.

Dividend Insights

Phillips 66 Partners' has a dividend payout ratio of 95.7%, which indicates that the Company distributes approximately $0.96 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts' estimates, Phillips 66 Partners is estimated to report earnings of $3.46 for the next year, which is substantially higher compared to the Company's annualized dividend of $2.58 per share.

As of June 30, 2017, Phillips 66 Partners' total debt outstanding was $2.3 billion. The Partnership had $1 million in cash and cash equivalents and $700 million available under its revolving credit facility. Phillips 66 Partners' cash from operations was $131 million, and distributable cash flow was $140 million. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for Phillips 66 Partners

On October 10, 2017, Phillips 66 Partners announced that it has priced $500 million aggregate principal amount of 3.75% unsecured senior notes due 2028 and $150 million aggregate principal amount of 4.68% unsecured senior notes due 2045 in an underwritten public offering. The new 2045 notes are being offered as additional notes under an indenture pursuant to which the Partnership issued 4.68% senior notes due 2045 on February 23, 2015.

Phillips 66 Partners expects to use the net proceeds from this offering to repay indebtedness assumed by the Partnership as part of the consideration for its acquisition of an indirect 25% interest in the Bakken Pipeline and a direct 100% interest in Merey Sweeny, L.P. from Phillips 66 and for general partnership purposes, including funding future acquisitions and organic projects and the repayment of outstanding indebtedness under the Partnership's revolving credit facility.

About Phillips 66 Partners

Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership (MLP) formed by Phillips 66 to own, operate, develop, and acquire primarily fee-based crude oil, refined petroleum products, and natural gas liquids pipelines, and terminals and other transportation and midstream assets. MLP, combines the tax benefits of a partnership, where profits are taxed only when investors actually receive distributions ? with the liquidity of a public Company.

Stock Performance

At the closing bell, on Wednesday, October 25, 2017, Phillips 66 Partners' stock slipped 2.23%, ending the trading session at $49.00. A total volume of 502.47 thousand shares have exchanged hands, which was higher than the 3-month average volume of 241.20 thousand shares. The Company's stock price advanced 4.17% in the previous twelve months. Moreover, the stock gained 0.74% since the start of the year. The stock is trading at a PE ratio of 20.21 and has a dividend yield of 5.27%. The stock currently has a market cap of $5.45 billion.

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