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 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.
The board of MPLX LP has declared a quarterly cash distribution of $0.6875 per common unit for Q4 2020, amounting to $2.75 annually. The payment date is set for February 12, 2021, with record holders as of February 8, 2021. This announcement serves as a qualified notice under Treasury Regulation Section 1.1446-4(b); foreign investors' distributions will be subject to federal income tax at the highest rate. MPLX operates midstream energy infrastructure, including pipelines and processing facilities across key U.S. supply basins.
MPLX LP (NYSE: MPLX) rescheduled its conference call to discuss 2020 fourth-quarter and full-year financial results, now set for Feb. 2, 2021 at 9:30 a.m. EST. The call will follow the release of financial results earlier that day. Investors can listen to the call via MPLX's website, where a replay will be available for two weeks. MPLX operates midstream energy infrastructure and logistics, including pipelines and processing facilities across key U.S. supply basins.
MPLX LP (NYSE: MPLX) announced the redemption of all outstanding $750 million 5.250% senior notes due January 15, 2025, including $42 million from its subsidiaries. The redemption will occur on January 15, 2021, at a price of 102.625% of the principal amount. Holders will receive the regular interest payment due on January 15, 2021. This notice serves only for informational purposes and does not constitute an offer or solicitation.
MPLX LP, a master limited partnership backed by Marathon Petroleum Corp., will host a conference call on February 2, 2021, at 11 a.m. EST to discuss its 2020 fourth-quarter and full-year financial results, which will be released that same day. The event will provide insights into company operations and will be accessible via MPLX's website, with a replay available for two weeks. MPLX operates midstream energy infrastructure, including pipelines, terminals, and processing facilities across key U.S. supply basins.
Marathon Petroleum Corporation (MPC) announced that Donald C. Templin, CFO and executive vice president, will retire in January 2021. Templin has been instrumental in MPC's growth since joining in 2011 and played a key role during the transition to the current CEO, Michael J. Hennigan. A search for a new CFO is ongoing. Templin has also served on the board of MPLX LP, MPC's master limited partnership. His retirement comes as the company operates the largest refining system in the U.S., with a marketing system including Marathon-branded retail locations.
MPLX LP and WhiteWater Midstream have announced the completion of a significant expansion of the Agua Blanca pipeline system, increasing its capacity to over 3 billion cubic feet per day (Bcf/d). This expansion, starting testing this month, enhances transportation services for gas produced in Texas and New Mexico. It connects nearly 20 gas processing sites in the Delaware Basin and aims to deliver more reliable services to regional producers. The project marks a major development in midstream energy infrastructure and is set to be fully operational in early 2021.
MPLX reported a net income of $665 million for Q3 2020, up from $629 million in Q3 2019, following a $36 million charge related to workforce reduction costs. The adjusted EBITDA remained stable at $1.3 billion. MPLX generated $1.2 billion in operating cash flow and announced a quarterly distribution of $0.6875 per unit, maintaining a coverage ratio of 1.44x. The board authorized a unit repurchase program of up to $1 billion. Estimated capital spending cuts exceed $700 million for 2020, aiming for positive free cash flow in 2021.
The board of directors of MPLX LP has declared a quarterly cash distribution of $0.6875 per common unit for Q3 2020, amounting to $2.75 annually. The payment date is set for November 13, 2020, with the record date on November 6, 2020. Furthermore, the release details that 100% of MPLX’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate. MPLX operates midstream energy infrastructure, including crude oil pipelines and processing facilities.
MPLX LP announced an extension of the binding open season for the SLC Core Pipeline System expansion until Nov. 6, 2020, at 12 p.m. CST. This extension is in response to shipper feedback and includes modest revisions to the transportation service agreement. The proposed expansion aims to increase pipeline capacity by approximately 11,000 barrels per day, bringing total capacity to around 56,000 bpd. Service is expected to commence in the first quarter of 2022.
FAQ
What is the current stock price of MPLX LP (MPLX)?
What is the market cap of MPLX LP (MPLX)?
What does MPLX LP do?
What are MPLX's main business segments?
How extensive is MPLX's pipeline network?
What significant acquisitions has MPLX made?
How is MPLX performing financially?
What recent projects is MPLX involved in?
What is MPLX's financial position?
How does MPLX communicate with investors?
What is MPLX's strategy for growth?
Where can I find more information about MPLX?
