Phillips 66 (NYSE:PSX) and its master limited partnership Phillips 66 Partners (NYSE:PSXP) have made the headlines recently, because of how high PSXP climbed during its first day of trading. It isn't the first refiner to find success with an MLP spinoff -- Marathon Petroleum's (NYSE:MPC) spinoff MPLX (NYSE:MPLX) is up more than 16% year to date -- and it doesn't look as if it will be the last. In this video, Fool.com contributor Aimee Duffy looks at Valero's (NYSE:VLO) recent affirmation of its plan to convert its logistics assets into an MLP.
- Jul 28, 2013 at 7:55AM
- Energy, Materials, and Utilities