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Phillips 66 Partners (PSXP +30.6%) flies past $30/share after selling stock in its IPO at $23...

Phillips 66 Partners (PSXP +30.6%) flies past $30/share after selling stock in its IPO at $23 each (which itself was raised from earlier guidance of $19-$21). Phillips 66 (PSX +2.5%) remains an owner of more than 70% of the spinoff.
Comments (7)
  • nvestor
    , contributor
    Comment (1) | Send Message
     
    It is a shame that the individual investor is not able to take advantage of the hot ipo's such as PSXp.
    23 Jul 2013, 03:06 PM Reply Like
  • User 10554061
    , contributor
    Comment (1) | Send Message
     
    You participate through PSX
    23 Jul 2013, 04:02 PM Reply Like
  • RR02840
    , contributor
    Comment (1) | Send Message
     
    We don't count one iota, except when there is a suckers bet they (read GS & their ilk) want to unload(read pump & dump). PSXP is not worth $30+ -maybe later when they start to grow & grow their yield.
    23 Jul 2013, 04:08 PM Reply Like
  • glf4mny
    , contributor
    Comments (237) | Send Message
     
    nvestor is so correct. Sadly, with an $.86/sh annual dividend/return of capital, based on the closing price, the yield is only ~ 2.8%. Maybe we can get them on the downturn in a few days.
    24 Jul 2013, 12:34 AM Reply Like
  • psx stockholder
    , contributor
    Comments (2) | Send Message
     
    it is a shame that even psx stockholders did not have the opportunity to participate in the psxp ipd offering. especially since the psxp was former from psx. may I add, it is more than a shame, it is unfair.
    12 Aug 2013, 04:43 PM Reply Like
  • wigit5
    , contributor
    Comments (3954) | Send Message
     
    We still benefit albeit indirectly; take it all in stride... if you have been a PSX holder since the spinoff we don't have much to complain about.
    12 Aug 2013, 04:47 PM Reply Like
  • psx stockholder
    , contributor
    Comments (2) | Send Message
     
    I agree with the writer of unfair

     

    psx stockholder 2
    30 Jun, 11:22 PM Reply Like
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