Welcome to our dedicated page for MPLX LP news (Ticker: MPLX), a resource for investors and traders seeking the latest updates and insights on MPLX LP stock.
MPLX LP (NYSE: MPLX) is a diversified, large-cap master limited partnership based in the United States. The company owns and operates midstream energy infrastructure and logistics assets, focusing on two core segments: Logistics & Storage (L&S) and Gathering & Processing (G&P). MPLX's extensive network includes 13,000 miles of pipelines, storage caverns with a combined capacity of 4.7 million barrels, and an inland marine fleet of 23 boats and 286 barges.
The L&S segment involves the transportation, storage, distribution, and marketing of crude oil, refined petroleum products, and other hydrocarbon-based products like asphalt. This segment also manages MPLX's pipeline assets, many of which were acquired through significant transactions, such as the acquisition of Andeavor Logistics in 2019.
The G&P segment focuses on the gathering, processing, and transportation of natural gas and natural gas liquids (NGL). This segment includes assets from MarkWest, a leading gathering and processing company acquired by MPLX in 2015. MPLX has positioned itself as a key player in critical U.S. supply basins, particularly the Appalachian and Permian regions.
Recent financial reports demonstrate MPLX's robust performance and strategic growth. In the third quarter of 2023, the company reported a net income of $918 million. Despite a year-over-year decrease mainly due to a non-cash gain in the previous year, adjusted EBITDA showed a positive trend, reaching $1,596 million. MPLX's financial health is further underscored by its ability to generate significant free cash flow, returning $799 million to unitholders and announcing a third-quarter distribution of $0.85 per common unit.
Strategic expansions are key to MPLX's growth. The company is enhancing its natural gas and NGL pipelines, supporting the Permian and Bakken basins. The completion of the Whistler Pipeline's expansion and ongoing projects like the ADCC Pipeline lateral and BANGL joint venture pipeline illustrate MPLX's commitment to meeting increasing demand.
MPLX's financial stability is highlighted by its leverage ratio of 3.4x and a strong liquidity position with $960 million in cash as of September 30, 2023. The company continues to maintain solid investor relations, regularly updating stakeholders through conferences and webcasts.
For the latest financial information and updates, visit MPLX's official website at www.mplx.com.
MPLX reported a strong first-quarter 2022, with net income of $825 million, up from $739 million year-over-year. Adjusted EBITDA reached $1.4 billion, an increase from $1.35 billion. The company generated $1.1 billion in cash from operations and returned over $850 million to unitholders through distributions and unit repurchases. Segment income from Logistics and Storage was $763 million, while Gathering and Processing reported $297 million. MPLX is advancing growth projects and maintains a leverage ratio of 3.7x.
WhiteWater has announced the expansion of the Whistler Pipeline mainline capacity through the installation of three new compressor stations. This expansion will increase capacity from 2.0 Bcf/d to approximately 2.5 Bcf/d, with expected service in September 2023. The pipeline, which is co-owned by MPLX, transports natural gas from the Permian Basin to South Texas and export markets, enhancing connectivity and operational efficiency.
MPLX LP has announced a quarterly cash distribution of $0.7050 per common unit for Q1 2022, equating to $2.82 on an annualized basis. This payment will be made on May 13, 2022, to unitholders of record by May 6, 2022. The company highlights that 100% of MPLX's distributions to foreign investors will be considered as effectively connected income with a U.S. trade or business, thus subject to federal income tax withholding at the highest rate. MPLX operates midstream energy infrastructure, pipelines, and logistics assets across the U.S.
MPLX LP (NYSE: MPLX) has rescheduled its 2022 first-quarter earnings conference call to 1:00 p.m. ET on May 3, 2022, from the original time of 9:30 a.m.. Interested individuals can listen to the call through MPLX's website, where a replay will also be available for two weeks. The financial information, including the earnings release, will be accessible online prior to the call. MPLX is a large-cap master limited partnership that focuses on midstream energy infrastructure and logistics.
MPLX LP (NYSE: MPLX) will hold a conference call on May 3, 2022, at 9:30 a.m. ET to discuss its first-quarter financial results for 2022. Interested participants can access the call via MPLX's website, where a replay will be available for two weeks. The company operates midstream energy infrastructure and logistics assets, including a network of pipelines and storage facilities. Further financial details will be released ahead of the call, providing insights for investors.
MPLX LP announced that its 2021 investor tax packages are now accessible on its website. Investors can find the packages under the Investors tab or directly via a provided link. Tax packages will be mailed starting March 22, 2022. For inquiries regarding the tax reporting for the year ended December 31, 2021, investors can contact a toll-free number. MPLX is a large-cap master limited partnership that operates midstream energy infrastructure and logistics, including pipelines and terminals.
MPLX LP (NYSE: MPLX) announced the pricing of $1.5 billion in senior notes with a 4.950% interest rate due in 2052. The notes were priced at 98.982% of par value, with proceeds aimed at repaying outstanding borrowings under a loan agreement with Marathon Petroleum and a revolving credit facility. The offering is expected to close on March 14, 2022, pending customary conditions. Citigroup, RBC Capital Markets, and TD Securities are managing the offering.
MPLX LP (NYSE: MPLX) filed its Annual Report on Form 10-K for the year ended December 31, 2021, with the U.S. Securities and Exchange Commission. The report is accessible on MPLX's website under the "SEC Filings" section. Unitholders can request a free hard copy of the report, which includes audited financial statements. MPLX operates midstream energy infrastructure, including pipelines and logistics assets, and offers fuel distribution services across the U.S. More details can be found at www.mplx.com.
MPLX LP (NYSE: MPLX) has announced a new target to reduce methane emissions intensity by 75% below 2016 levels by 2030, expanding its existing 2025 goal of 50% reduction. The company has achieved approximately 45% of this target through its Focus on Methane program, which aims to mitigate methane emissions across its natural gas operations. MPLX's Chairman, Michael J. Hennigan, emphasized the company’s commitment to sustainable energy and improving its carbon profile as the energy sector evolves.
MPLX reported fourth-quarter 2021 net income of $830 million, up from $691 million in Q4 2020. Adjusted EBITDA for the quarter was $1.4 billion, compared to $1.4 billion the prior year. For the full year, net income reached $3.1 billion and adjusted EBITDA totaled $5.6 billion. The Logistics and Storage segment showed strong performance with $750 million in income from operations, while Gathering and Processing income rose to $306 million. MPLX also announced a distribution of $0.705 per unit. Capital spending in 2022 is projected at $900 million.
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