This High-Yield Stock's Strategy Keeps Paying Dividends
Phillips 66 Partners (NYSE: PSXP) has shifted its strategy over the past few years from acquiring assets from its parent Phillips 66 (NYSE: PSX) to developing organic expansion projects. That pivot is paying off, which was evident in the company's fourth-quarter results. Those numbers put the company's 6%-yielding payout on a rock-solid foundation. Meanwhile, with more growth coming down the pipeline, that payout appears poised to continue growing.
Metric
Q4 2019
Source Fool.com
