Phillips 66 Partners (PSXP) has reported blowout results for the third quarter, and the master limited partnership’s earnings and distributable cash flow growth could accelerate in the future as it places Gray Oak pipeline into service. The MLP also has other smaller projects in its backlog which will come online through mid-2021 and will help push its volumes, earnings, and cash flows higher. With growing earnings and healthy coverage and leverage ratios, I think Phillips 66 Partners is well positioned to continue growing cash distributions. This should have a positive impact on the partnership’s units