Phillips 66 Partners (PSXP) delivered strong growth in earnings and cash flows in 2018 which fueled the dividend growth, and the master limited partnership will likely continue to do well in 2019 as it brings some major projects online. Phillips 66 Partners will grow volumes, earnings, and distributable cash flows which will pave the way for distribution growth. The MLP’s units will likely continue to outperform this year.
Image: Phillips 66 Partners LP, 4Q18 Investor Presentation.
In the last few years, Phillips 66 Partners has grown significantly after separating from Phillips 66