Mplx Lp Stock Price, News & Analysis

MPLX reported a strong second-quarter 2022 with net income of $875 million, up from $706 million in Q2 2021. Adjusted EBITDA increased to $1.457 billion, compared to $1.374 billion last year. The company generated $1.487 billion in net cash from operating activities and returned over $750 million to unitholders through distributions and unit repurchases. MPLX announced an additional $1 billion unit repurchase authorization and extended transportation service agreements with MPC for 10 years.

The board of MPLX LP has declared a quarterly cash distribution of $0.7050 per common unit for Q2 2022, totaling $2.82 annually. This distribution will be paid on Aug. 12, 2022, to common unitholders of record by Aug. 5, 2022. It is important to note that 100% of MPLX's distributions to foreign investors will be attributed to effectively connected income, leading to federal income tax withholding at the highest applicable rate. MPLX is a large-cap master limited partnership focused on midstream energy infrastructure and logistics.

MPLX LP will host a conference call on August 2, 2022, at 9:30 a.m. EDT to discuss its second-quarter financial results for 2022. Interested investors can listen to the call on the company's website, where a replay will be available for two weeks following the event. Financials, including the earnings release and investor materials, will be accessible online before the call. MPLX operates midstream energy infrastructure with assets including pipelines, storage facilities, and processing plants.

WhiteWater, EnLink Midstream (NYSE: ENLC), Devon Energy (NYSE: DVN), and MPLX LP (NYSE: MPLX) have finalized the investment decision for the Matterhorn Express Pipeline, set to transport 2.5 billion cubic feet of natural gas per day across 490 miles from Texas to Houston. This project aims to enhance gas transportation from the Permian Basin and is expected to be operational by Q3 2024, subject to regulatory approvals. The partnership emphasizes increasing production capacity while minimizing flared volumes in West Texas.

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.