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 net income of $706 million for Q2 2021, up from $648 million in Q2 2020. Adjusted EBITDA was $1.374 billion, increasing from $1.227 billion year-over-year. Net cash from operating activities reached $1.365 billion. The Logistics and Storage segment generated $787 million in income, while the Gathering and Processing segment contributed $144 million. MPLX maintained a distribution level of $0.6875 per unit with a coverage ratio of 1.73x. The company repurchased $343 million of units, focusing on disciplined capital investments.
Marathon Petroleum Corp. reported a substantial second-quarter 2021 net income of $8.5 billion ($13.00 per diluted share), a significant increase from $9 million ($0.01 per diluted share) in Q2 2020. Adjusted income was $437 million ($0.67 per diluted share), up from an adjusted net loss of $868 million in the same period last year. The company closed the $21 billion Speedway sale and committed $10 billion for share repurchases. Ongoing renewable projects are progressing, with a focus on sustainability. The firm achieved $2.2 billion in adjusted EBITDA, a significant increase from $653 million in Q2 2020.
The MPLX LP board declared a quarterly cash distribution of $0.6875 per common unit for Q2 2021, equating to an annualized $2.75. This distribution is scheduled for payment on August 13, 2021, to unitholders of record by August 6, 2021. Notably, distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate. MPLX is a large-cap master limited partnership focused on midstream energy infrastructure, including crude oil and refined product pipelines, among other assets.
MPLX LP (NYSE: MPLX), a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), will host a conference call on August 4, 2021, at 9:30 a.m. EDT to discuss its 2021 second-quarter financial results. Interested parties can access the call via MPLX's website. A replay of the conference will be available for two weeks post-event. MPLX operates midstream energy infrastructure and logistics assets, including a network of pipelines and storage facilities across the U.S.
MPLX reported a net income of $739 million for Q1 2021, a significant recovery from a $2.7 billion loss in Q1 2020, attributed to previous non-cash impairment charges. The adjusted EBITDA was $1.4 billion, up from $1.3 billion year-over-year. The Logistics and Storage segment maintained stable income at $723 million, while the Gathering and Processing segment rebounded to $251 million from a loss of $3.2 billion a year earlier. MPLX generated $1.1 billion in net cash from operations and returned over $900 million to unitholders through distributions and unit repurchases.
The board of MPLX LP declared a quarterly cash distribution of $0.6875 per common unit for Q1 2021, equating to $2.75 annually. This distribution is set for payment on May 14, 2021, to unitholders of record by May 7, 2021. The release also informs that distributions to foreign investors will be subject to federal income tax withholding at the highest effective rate, as stipulated under Treasury Regulation Section 1.1446-4(b). MPLX is a master limited partnership involved in midstream energy infrastructure and distribution services.
MPLX LP (NYSE: MPLX) has announced the availability of its 2020 investor tax packages on its website as of March 22, 2021. Investors can access these packages through the Tax Reporting Package link under the Investors tab or directly via a provided link. Physical mailings of the tax packages will begin on March 24, 2021. For any inquiries regarding the Tax Reporting Package for the year ending December 31, 2020, investors are encouraged to contact MPLX at 800-232-0011 (toll free).
MPLX LP (NYSE: MPLX), a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), will host a conference call on May 4, 2021, at 9:30 a.m. EDT to discuss its 2021 first-quarter financial results and provide updates on company operations. The financial results will be released earlier that day. Interested participants can access the call via MPLX's website, where a replay will also be available for two weeks. MPLX operates an extensive network of midstream energy infrastructure, including pipelines and terminal facilities.
MPLX LP (NYSE: MPLX) filed its Annual Report on Form 10-K for the year ended December 31, 2020, with the U.S. Securities and Exchange Commission. Investors can view the filing on the MPLX website under 'SEC Filings.' This diversified master limited partnership specializes in midstream energy infrastructure, owning assets such as pipelines, terminals, and processing facilities, essential for fuel distribution and energy logistics. Unitholders can request a hard copy of the report free of charge by contacting MPLX's Investor Relations.
MPLX reported a fourth quarter net income of $691 million for 2020, a recovery from a net loss of $581 million in Q4 2019, and a full-year net loss of $720 million, impacted by $3.4 billion in non-cash impairment charges. Adjusted EBITDA was $1.4 billion in Q4 and $5.2 billion for the year. The company generated $4.5 billion in net cash from operations, leading to over $3 billion returned to unitholders. MPLX aims for capital expenditures of $800 million in 2021, focusing on high-return projects. The distribution per common unit remains at $0.6875.
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