- Our valuation model shows that the impact from the potential shut down of DAPL has already been priced into PSXP's recent share price.
- Strong earnings are expected in FY 2021 as Gray Oak Pipeline and C2G Pipeline reach full commercial operation, complemented by increasing global demand for oil and gas.
- With an annual dividend yield of almost 10%, robust cash flows, and a low leverage structure based on the current business model, we believe PSXP is reasonably priced with upside potential.
For further details see:
Phillips 66 Partners: A Bright Future Ahead - Even Without DAPL