Mplx Lp Stock Price, News & Analysis

MPLX LP (NYSE: MPLX) will hold a conference call on January 31, 2023, at 9:30 a.m. EST, to discuss its 2022 fourth-quarter and full-year financial results. Interested parties can listen via MPLX's website, where a replay will be available for two weeks post-call. Financial documents, including the earnings release, will be accessible online prior to the event. MPLX operates midstream energy infrastructure, including crude oil and refined product pipelines, and offers fuel distribution services in key U.S. supply basins.

MPLX reported a strong third-quarter 2022, posting a net income of $1,428 million, up from $802 million in 2021. The adjusted EBITDA rose 6% year-over-year, reaching $1,471 million. The company generated $1,039 million in net cash from operating activities and returned $935 million to unitholders, including a 10% distribution increase to $0.775 per unit. The coverage ratio stood at 1.6x. MPLX's leverage ratio improved to 3.5x, below its 4.0x target, highlighting robust cash flow generation and financial stability.

The board of MPLX LP has declared a quarterly cash distribution of $0.775 per common unit for Q3 2022, a 10% increase from the previous quarter. This translates to $3.10 annualized. The distribution is set to be paid on Nov. 22, 2022, to unitholders on record as of Nov. 15, 2022. MPLX, a diversified master limited partnership, specializes in midstream energy operations and logistics. Investors should note that distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate.

WhiteWater Midstream and Cheniere Energy have initiated construction of the ADCC Pipeline, a new joint venture pipeline extending 43 miles to Cheniere's Corpus Christi facility. The pipeline is designed to transport 1.7 Bcf/d of natural gas, with potential expansion to 2.5 Bcf/d, expected to be operational by 2024, pending regulatory approvals. The Whistler Pipeline, part of this consortium including MPLX, facilitates natural gas transport from the Permian Basin to export markets in South Texas.

MPLX LP (NYSE: MPLX) will host a conference call on November 1, 2022, at 9:30 a.m. ET to discuss its third-quarter financial results for 2022. Interested parties can access the call via MPLX's website, where a replay will be available for two weeks. The company operates a diversified portfolio in the midstream energy sector, managing infrastructure such as pipelines, marine terminals, and processing facilities.

MPLX LP (NYSE: MPLX) has released its 2021 Schedule K-3 investor tax packages, now accessible on its website. This is particularly relevant for foreign unitholders and those needing specific tax information. MPLX will not mail K-3 packages but encourages investors to review the material online, especially if it pertains to their tax filings. For additional information or electronic copies, investors can contact MPLX directly. The company operates extensive midstream energy infrastructure across the U.S.

MPLX LP (NYSE: MPLX) announced the redemption of all outstanding senior notes, totaling $500 million for both the 3.500% notes due Dec. 1, 2022, and the 3.375% notes due March 15, 2023. The 2022 notes are slated for redemption on or about Aug. 25, 2022, while the 2023 notes will be redeemed on or about Sept. 15, 2022. Redemption prices will be at par or make-whole payment plus accrued interest. This announcement is strictly informational and does not constitute an offer to buy or sell the notes. MPLX operates midstream energy infrastructure, including pipelines and terminals.

MPLX LP (NYSE: MPLX) has priced $1 billion in senior notes with a 4.950% interest rate due in 2032, offered at 99.433% of par value. The proceeds will be utilized to retire existing 3.500% senior notes due December 2022 and 3.375% senior notes due March 2023, and for general partnership purposes. The closing is expected on August 11, 2022, subject to customary conditions. Barclays Capital, Mizuho Securities, and Wells Fargo Securities are the underwriters for this offering.

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.