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Phillips 66 (PSX) plans to raise as much as $400M in an IPO next year for units in a master...

Phillips 66 (PSX) plans to raise as much as $400M in an IPO next year for units in a master limited partnership and use the proceeds to pay for expansion of its oil and natural gas transportation operations. PSX also says it plans $3.7B in 2013 capital spending, a 6% increase over this year’s estimated total. PSX -0.4% premarket.
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Comments (5)
  • Dividend Garden
    , contributor
    Comments (445) | Send Message
     
    I do not like the idea of forming this MLP. What I liked about PSX is the pipeline exposure without the tax mess of investing with an MLP.
    13 Dec 2012, 09:11 AM Reply Like
  • zorro2828
    , contributor
    Comments (602) | Send Message
     
    As a Canadian.. I love the idea.. the tax implications are not a concern and judging by how the current management has been driving the stock higher and higher, I expect them to use the funds in a very accretive manner.. Always look to what the funds are being used for, and in this case, I am positive they will put the funds to work in a most efficacious manner.. The stock will be higher by days end, as the market realizes management is going to have a nice piece of change to invest for its shareholders
    13 Dec 2012, 09:31 AM Reply Like
  • chopchop0
    , contributor
    Comments (3535) | Send Message
     
    Wondering how this will impact current PSX shareholders. I wonder if it's prudent to just buy the MLP along with holding these shares next year.

     

    I do agree with zorro2828 than management has been excellent for shareholders.
    13 Dec 2012, 10:45 AM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3534) | Send Message
     
    Would love to see PSX start dominating the transportation market
    14 Dec 2012, 02:22 AM Reply Like
  • zorro2828
    , contributor
    Comments (602) | Send Message
     
    an annuity.. just keeps payin in good and bad times.. smart move if they do!
    21 Feb 2013, 02:20 PM Reply Like
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