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This Billion-Dollar Pipeline Deal Just Delivered Our Next Profit Play in Energy

Phillips 66 Partners LP (NYSE: PSXP) on Monday announced a $1 billion deal to buy stakes in three pipelines from Phillips 66 (NYSE: PSX) - and, in doing so, spotlighted our next Contrarian investing play in energy.

The deal calls for Phillips 66 to buy interests in two natural-gas pipelines in Texas, as well as a 19.46% stake in the Explorer Pipeline Co., which runs a pipeline that carries "refined" products between the Gulf of Mexico and the U.S. Midwest.

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