Propellant compositions include an energetic binder, such as nitrocellulose, and a stabilized, encapsulated red phosphorous as a ballistic modifier. The propellant composition may additionally include an energetic plasticizer, such as nitroglycerine. For example, the propellant composition may be formed by mixing a double or multi base propellant that includes nitrocellulose plasticized with nitroglycerine with the stabilized, encapsulated red phosphorus. The propellant compositions may be substantially lead-free and may exhibit improved ballistic properties. Methods of forming such propellant compositions and an ordnance device including such propellant compositions are also disclosed.