Mplx Lp Stock Price, News & Analysis

MARA (NASDAQ:MARA) and MPLX (NYSE:MPLX) signed a letter of intent on Nov 4, 2025 to collaborate on integrated gas-fired power generation and data center campuses in West Texas.

MARA will build and operate multiple power plants and data centers near MPLX Delaware basin processing facilities with an initial capacity of 400 MW and potential to scale to 1.5 GW. MPLX will facilitate natural gas supply and receive electricity under a tolling arrangement. The LOI is subject to execution of definitive agreements, regulatory and third-party approvals, and satisfactory due diligence.

MPLX (NYSE:MPLX) announced that its general partner board elected Maryann T. Mannen as chairman of the board, effective Jan. 1, 2026.

Mannen will add the chairman role to her current duties as president and chief executive officer. She succeeds Michael J. Hennigan, who will retire as executive chairman and as a board member of the general partner, also effective Jan. 1, 2026. Chris Helms will continue as independent lead director.

The announcement also notes Mannen will succeed Hennigan as chairman of MPC and continue as MPC president and CEO, effective Jan. 1, 2026.

MPLX (NYSE: MPLX) reported third-quarter 2025 results and raised its quarterly distribution by 12.5% for the second consecutive year to an annualized $4.31 per unit (Q3 distribution $1.0765).

Key metrics: Net income $1,545 million (Q3 2025) vs $1,037 million (Q3 2024); Adjusted EBITDA $1,766 million; Distributable cash flow $1,468 million; Net cash provided by operations $1,431 million; Leverage 3.7x. MPLX returned $1.1 billion of capital and repurchased $100 million of public common units in Q3.

Strategic moves: acquired a Delaware basin sour gas treating business for $2.4 billion, announced divestiture of Rockies gathering and processing assets for $1.0 billion, issued $4.5 billion unsecured notes, and outlined multiple Permian and Gulf Coast gas/NGL projects with multi-year in-service timelines.

MPLX (NYSE: MPLX) declared a quarterly cash distribution of $1.0765 per common unit for Q3 2025, equal to an $4.31 annualized rate. The board said this is a 12.5% increase (a $0.12 rise) versus the Q2 2025 distribution. The distribution is payable on Nov 14, 2025 to holders of record as of Nov 7, 2025.

The company provided a qualified tax notice under Treasury Regulations 1.1446-4 and 1.1446(f)-4: brokers and nominees should treat 100% of distributions to non-U.S. investors as effectively connected income and in excess of cumulative net income, so such distributions are subject to federal withholding at the highest applicable effective tax rate, with nominees responsible as withholding agents.

MPLX LP (NYSE: MPLX) has announced the availability of its 2024 Schedule K-3 tax packages on the company's website. These tax documents contain important information about items of international tax relevance for specific investors.

The K-3 packages are primarily relevant for foreign unitholders, investors calculating foreign tax credits, and certain corporate/partnership unitholders. MPLX will not mail physical K-3 packages, but investors can access them online or request electronic copies via email by calling 1-800-232-0011.

MPLX LP (NYSE: MPLX) has scheduled its third-quarter 2025 financial results conference call for November 4, 2025, at 9:30 a.m. EST. The earnings release and related investor materials will be available on the company's website before the call. Investors can access the conference call through MPLX's website at www.mplx.com, where a replay will remain available for two weeks following the presentation.

MPLX LP (NYSE: MPLX) has completed the acquisition of Northwind Midstream for $2.375 billion. The acquisition enhances MPLX's Permian natural gas and NGL value chains by adding sour gas gathering, treating, and processing services in Lea County, New Mexico.

The transaction, expected to be immediately accretive to distributable cash flow, represents a 7x multiple on forecast 2027 EBITDA with mid-teen unlevered returns. The acquisition and expansion projects will be funded through $4.5 billion in senior notes issued in August 2025.

The acquired assets include 200,000+ dedicated acres, 200+ miles of gathering pipelines, and sour gas treating capacity expanding from 150 MMcf/d to 440 MMcf/d by second half of 2026, supported by minimum volume commitments.

MPLX LP (NYSE: MPLX) has agreed to sell its natural gas gathering and processing network in the Uinta and Green River basins to Harvest Midstream for $1 billion. The transaction, expected to close in Q4 2025, includes extensive assets across Wyoming, Utah, and Colorado.

The assets comprise approximately 1,500 miles of gas gathering pipelines and significant processing capacity including: 345 million cubic feet per day from the Ironhorse and Stagecoach facilities in the Uinta Basin, and 500 million cubic feet per day from the Blacks Fork and Vermilion facilities in the Green River Basin, plus 10,000 barrels per day of fractionator capacity.

MPLX LP (NYSE: MPLX) has announced a significant asset divestiture, agreeing to sell its Rockies gathering and processing assets to Harvest Midstream for $1.0 billion in cash. The assets include natural gas gathering and transportation pipelines with 1.2 billion cubic feet per day of processing capacity, which operated at 52% capacity in 2024.

As part of the deal, Harvest has committed to dedicate 12,000 barrels per day of NGLs from these assets to MPLX for seven years starting in 2028. The transaction, expected to close in Q4 2025, aligns with MPLX's strategic focus on growth in the Marcellus and Permian basins.