MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids; transportation, storage, distribution, and marketing of crude oil and refined petroleum products, as well as other hydrocarbon-based products; and sale of residue gas and condensate. Its pipeline network located throughout the United States and Alaska; storage caverns consist of butane, propane, and liquefied petroleum gas storage with locations in Neal in West Virginia, Woodhaven in Michigan, Robinson in Illinois, and Jal in New Mexico; and marine business owns and operates boats and barges, including third-party chartered equipment, as well as a marine repair facility located on the Ohio River. The company also transports light products, heavy oils, crude oil, renewable fuels, chemicals, and feedstocks in the Mid-Continent and Gulf Coast regions. In addition, its refining logistics assets operates 619 tanks with a storage capacity of approximately 56 million barrels; and 32 rail and truck racks, 18 docks, and gasoline blenders. Further, the company operates terminal facilities for the receipt, storage, blending, adultization, handling, and redelivery of refined petroleum products located throughout the continental United States and Alaska. MPLX GP LLC acts as the general partner of MPLX LP. The company was incorporated in 2012 and is based in Findlay, Ohio. MPLX LP is a subsidiary of Marathon Petroleum Corporation.
IPO Year: 2012
Exchange: NYSE
Website: mplx.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/17/2024 | $43.00 | Underperform | BofA Securities |
| 10/6/2023 | $40.00 | Buy | Goldman |
| 3/14/2023 | $37.00 → $41.00 | Neutral → Overweight | JP Morgan |
| 1/9/2023 | $36.00 | Peer Perform → Outperform | Wolfe Research |
| 12/9/2022 | $33.50 | Neutral | Citigroup |
| 9/29/2022 | $34.00 | Buy → Underperform | BofA Securities |
| 5/2/2022 | $37.00 | Buy | Truist |
| 2/3/2022 | $35.00 → $37.00 | Outperform | Raymond James |
| 1/24/2022 | $34.00 → $35.00 | Outperform | Raymond James |
| 1/18/2022 | $39.00 → $43.00 | Buy | B of A Securities |
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FINDLAY, Ohio, Nov. 5, 2024 /PRNewswire/ -- Third-quarter net income attributable to MPLX of $1.0 billion and net cash provided by operating activities of $1.4 billion$1.7 billion of adjusted EBITDA attributable to MPLX and $1.4 billion of distributable cash flow$949 million of capital returned to unitholdersIncreased quarterly distribution by 12.5% to $3.83 per unit annualizedExecuting growth strategy in the Northeast with additional processing plant; expected to bring total processing and fractionation capacity to 8.1 bcf/d and 800 mbpd, respectively, in the second half of 2026MPLX LP (NYSE:MPLX) today reported third-quarter 2024 net income attributable to MPLX of $1,037 million, compared
FINDLAY, Ohio, Sept. 6, 2024 /PRNewswire/ -- MPLX LP (NYSE:MPLX) will host a conference call on Tuesday, November 5, 2024, at 9:30 a.m. EST to discuss 2024 third-quarter financial results. Interested parties may listen to the conference call by visiting MPLX's website at www.mplx.com. A replay of the webcast will be available on MPLX's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.mplx.com. About MPLX LP MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and prov
FINDLAY, Ohio, Aug. 6, 2024 /PRNewswire/ -- Second-quarter net income attributable to MPLX of $1.2 billion and net cash provided by operating activities of $1.6 billionAdjusted EBITDA attributable to MPLX of $1.7 billion and distributable cash flow of $1.4 billionReturned $949 million of capital to unitholdersProgressing Permian growth strategy; Preakness II processing plant began operations in July; announced increased ownership in BANGL NGL pipeline, and FID of the Blackcomb natural gas pipelineMPLX LP (NYSE:MPLX) today reported second-quarter 2024 net income attributable to MPLX of $1,176 million, compared with $933 million for the second quarter of 2023. Second-quarter 2024 net income i
HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported second quarter 2024 results. Second quarter 2024 net income attributable to Targa Resources Corp. was $298.5 million compared to $329.3 million for the second quarter of 2023. The Company reported adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items ("adjusted EBITDA")(1) of $984.3 million for the second quarter of 2024 compared to $789.1 million for the second quarter of 2023. Highlights Record adjusted EBITDA for the second quarter of $984.3 millionRecord Permian, NGL transportation, and fractionation v
AUSTIN, Texas, July 31, 2024 /PRNewswire/ -- WhiteWater today announced that WhiteWater, MPLX LP (NYSE:MPLX), and Enbridge Inc. (NYSE:ENB), through the WPC Joint Venture, the joint venture that owns the Whistler Pipeline, have partnered with an affiliate of Targa Resources Corp. (NYSE:TRGP) to reach final investment decision to move forward with the construction of the Blackcomb Pipeline after having secured sufficient firm transportation agreements with predominantly investment grade shippers, including, but not limited to, Devon Energy, Corp. (NYSE:DVN), Diamondback Energy, Inc. (NYSE:FANG), Marathon Petroleum Corp. (NYSE:MPC), and Targa Resources Corp. I Squared owns WhiteWater's stake in
FINDLAY, Ohio, June 11, 2024 /PRNewswire/ -- MPLX LP (NYSE:MPLX) will host a conference call on Tuesday, August 6, 2024, at 9:30 a.m. EDT to discuss 2024 second-quarter financial results. Interested parties may listen to the conference call by visiting MPLX's website at www.mplx.com. A replay of the webcast will be available on MPLX's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.mplx.com. About MPLX LP MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provi
FINDLAY, Ohio, April 30, 2024 /PRNewswire/ -- First-quarter net income attributable to MPLX of $1.0 billion and net cash provided by operating activities of $1.3 billionAdjusted EBITDA attributable to MPLX of $1.6 billion and distributable cash flow of $1.4 billionReturned $951 million of capital to unitholdersAdvanced growth strategy with processing plants in the Marcellus and Permian basins; Harmon Creek II in service and Preakness II approaching startupAcquired partner's interest in Utica G&P joint ventures and a dry gas gathering systemMPLX LP (NYSE:MPLX) today reported first-quarter 2024 net income attributable to MPLX of $1,005 million, compared with $943 million for the first quarter
FINDLAY, Ohio, March 19, 2024 /PRNewswire/ -- MPLX LP (NYSE:MPLX) will host a conference call on Tuesday, April 30, 2024, at 9:30 a.m. EDT to discuss 2024 first-quarter financial results. Interested parties may listen to the conference call by visiting MPLX's website at www.mplx.com. A replay of the webcast will be available on MPLX's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.mplx.com. About MPLX LP MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provi
FINDLAY, Ohio, Jan. 30, 2024 /PRNewswire/ -- Fourth-quarter net income attributable to MPLX of $1.1 billion and adjusted EBITDA of $1.6 billionFull-year 2023 net income attributable to MPLX of $3.9 billion and adjusted EBITDA of $6.3 billionFull-year 2023 net cash provided by operating activities of $5.4 billion and distributable cash flow of $5.3 billion Returned $3.3 billion of capital to unitholders for the full year, reflecting 10% quarterly distribution increase for second consecutive yearAdvancing Permian growth strategy with acquisition of partner's interest in G&P joint venture2024 capital spending outlook of $1.1 billionMPLX LP (NYSE:MPLX) today reported fourth-quarter 2023 net inc
FINDLAY, Ohio, Dec. 8, 2023 /PRNewswire/ -- MPLX LP (NYSE:MPLX) will host a conference call on Tuesday, January 30, 2024, at 9:30 a.m. EST to discuss 2023 fourth-quarter and full-year financial results. Interested parties may listen to the conference call by visiting MPLX's website at www.mplx.com. A replay of the webcast will be available on MPLX's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.mplx.com. About MPLX LP MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics a
FINDLAY, Ohio, Nov. 5, 2024 /PRNewswire/ -- Third-quarter net income attributable to MPLX of $1.0 billion and net cash provided by operating activities of $1.4 billion$1.7 billion of adjusted EBITDA attributable to MPLX and $1.4 billion of distributable cash flow$949 million of capital returned to unitholdersIncreased quarterly distribution by 12.5% to $3.83 per unit annualizedExecuting growth strategy in the Northeast with additional processing plant; expected to bring total processing and fractionation capacity to 8.1 bcf/d and 800 mbpd, respectively, in the second half of 2026MPLX LP (NYSE:MPLX) today reported third-quarter 2024 net income attributable to MPLX of $1,037 million, compared
FINDLAY, Ohio, Oct. 29, 2024 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE:MPLX) has declared a quarterly cash distribution of $0.9565 per common unit for the third quarter of 2024, or $3.826 on an annualized basis. This represents a 12.5% increase, or $0.1065 increase per common unit, over the second quarter 2024 distribution. The distribution will be paid on Nov. 15, 2024, to common unitholders of record as of Nov. 8, 2024. Qualified Tax Notice Concurrent with this announcement we are providing qualified notice to brokers and nominees that hold MPLX units on behalf of non-U.S. investors under Treasury Regulation Section 1.1446-4(b) and (d) and Treasury Reg
FINDLAY, Ohio, Sept. 6, 2024 /PRNewswire/ -- MPLX LP (NYSE:MPLX) will host a conference call on Tuesday, November 5, 2024, at 9:30 a.m. EST to discuss 2024 third-quarter financial results. Interested parties may listen to the conference call by visiting MPLX's website at www.mplx.com. A replay of the webcast will be available on MPLX's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.mplx.com. About MPLX LP MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and prov
FINDLAY, Ohio, Aug. 30, 2024 /PRNewswire/ -- MPLX LP (NYSE:MPLX) today announced that the company's 2023 Schedule K-3 investor tax packages reflecting items of international tax relevance are now available on its website, https://www.mplx.com. Investors may select the Taxation link under the Investors tab or use the following link: https://www.taxpackagesupport.com/mplx. A limited number of investors (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on the Schedule K-3 for their specific reporting requirements. To the extent the Schedule K-3 is appli
FINDLAY, Ohio, Aug. 6, 2024 /PRNewswire/ -- Second-quarter net income attributable to MPLX of $1.2 billion and net cash provided by operating activities of $1.6 billionAdjusted EBITDA attributable to MPLX of $1.7 billion and distributable cash flow of $1.4 billionReturned $949 million of capital to unitholdersProgressing Permian growth strategy; Preakness II processing plant began operations in July; announced increased ownership in BANGL NGL pipeline, and FID of the Blackcomb natural gas pipelineMPLX LP (NYSE:MPLX) today reported second-quarter 2024 net income attributable to MPLX of $1,176 million, compared with $933 million for the second quarter of 2023. Second-quarter 2024 net income i
HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported second quarter 2024 results. Second quarter 2024 net income attributable to Targa Resources Corp. was $298.5 million compared to $329.3 million for the second quarter of 2023. The Company reported adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items ("adjusted EBITDA")(1) of $984.3 million for the second quarter of 2024 compared to $789.1 million for the second quarter of 2023. Highlights Record adjusted EBITDA for the second quarter of $984.3 millionRecord Permian, NGL transportation, and fractionation v
AUSTIN, Texas, July 31, 2024 /PRNewswire/ -- WhiteWater today announced that WhiteWater, MPLX LP (NYSE:MPLX), and Enbridge Inc. (NYSE:ENB), through the WPC Joint Venture, the joint venture that owns the Whistler Pipeline, have partnered with an affiliate of Targa Resources Corp. (NYSE:TRGP) to reach final investment decision to move forward with the construction of the Blackcomb Pipeline after having secured sufficient firm transportation agreements with predominantly investment grade shippers, including, but not limited to, Devon Energy, Corp. (NYSE:DVN), Diamondback Energy, Inc. (NYSE:FANG), Marathon Petroleum Corp. (NYSE:MPC), and Targa Resources Corp. I Squared owns WhiteWater's stake in
FINDLAY, Ohio, July 30, 2024 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE:MPLX) has declared a quarterly cash distribution of $0.85 per common unit for the second quarter of 2024, or $3.40 on an annualized basis. The distribution will be paid on Aug. 16, 2024, to common unitholders of record as of Aug. 9, 2024. Qualified Tax Notice Concurrent with this announcement we are providing qualified notice to brokers and nominees that hold MPLX units on behalf of non-U.S. investors under Treasury Regulation Section 1.1446-4(b) and (d) and Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). Brokers and nominees should treat one hundred percent (100%) of the Partners
AUSTIN, Texas, July 12, 2024 /PRNewswire/ -- The ADCC Pipeline entered commercial service on July 1, 2024, and is capable of providing approximately 1.7 Billion cubic feet per day (Bcf/d) of natural gas transportation capacity to the Cheniere Corpus Christi Liquefaction facility from markets on Whistler Pipeline's Agua Dulce Header in South Texas. The receipt points in Agua Dulce provide Cheniere direct access to Permian and Eagle Ford volumes in addition to volumes sourced along the Gulf Coast. The ADCC Pipeline further enhances the natural gas infrastructure in Texas and cre
FINDLAY, Ohio, June 11, 2024 /PRNewswire/ -- MPLX LP (NYSE:MPLX) will host a conference call on Tuesday, August 6, 2024, at 9:30 a.m. EDT to discuss 2024 second-quarter financial results. Interested parties may listen to the conference call by visiting MPLX's website at www.mplx.com. A replay of the webcast will be available on MPLX's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.mplx.com. About MPLX LP MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provi
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Maryann Mannen elected President and CEOMike Hennigan to transition to Executive Chairman of the Board of DirectorsFINDLAY, Ohio, May 13, 2024 /PRNewswire/ -- MPLX LP (NYSE:MPLX) today announced its leadership transition plan, effective August 1, 2024. At that time, Maryann T. Mannen, President of Marathon Petroleum Corporation (NYSE:MPC), will succeed Michael J. Hennigan as President and Chief Executive Officer of MPLX GP LLC, the general partner of MPLX. Mannen will continue to serve on the Board of Directors of the general partner of MPLX, and Hennigan will assume the role of Executive Chairman of the Board. Christopher A. Helms will continue as the Board's independent Lead Director. Hen
AUSTIN, Texas, March 26, 2024 /PRNewswire/ -- WhiteWater, I Squared, MPLX LP (NYSE:MPLX), and Enbridge Inc. (TSX:ENB) (NYSE:ENB) jointly announce they have entered into a definitive agreement to strategically combine the Whistler Pipeline and Rio Bravo Pipeline project in a newly formed joint venture. Enbridge will contribute its wholly-owned Rio Bravo Pipeline project and cash in exchange for an ownership stake in the newly formed joint venture. Following the closing of the transaction, the ownership in the joint venture will be WhiteWater/I Squared (50.6%), MPLX (30.4%), and
BofA Securities resumed coverage of MPLX LP with a rating of Underperform and set a new price target of $43.00
Goldman resumed coverage of MPLX LP with a rating of Buy and set a new price target of $40.00
JP Morgan upgraded MPLX LP from Neutral to Overweight and set a new price target of $41.00 from $37.00 previously
Wolfe Research upgraded MPLX LP from Peer Perform to Outperform and set a new price target of $36.00
Citigroup initiated coverage of MPLX LP with a rating of Neutral and set a new price target of $33.50
BofA Securities downgraded MPLX LP from Buy to Underperform and set a new price target of $34.00
Truist resumed coverage of MPLX LP with a rating of Buy and set a new price target of $37.00
Raymond James reiterated coverage of MPLX with a rating of Outperform and set a new price target of $37.00 from $35.00 previously
Raymond James reiterated coverage of MPLX with a rating of Outperform and set a new price target of $35.00 from $34.00 previously
B of A Securities reiterated coverage of MPLX with a rating of Buy and set a new price target of $43.00 from $39.00 previously
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MPLX (NYSE:MPLX) has been analyzed by 4 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 2 0 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 2 1 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $46.5, a high estimate of $48.00, and a low estimate of $45.00. This current average has increased by 5.68% from the previous
Barclays analyst Christine Cho maintains MPLX (NYSE:MPLX) with a Overweight and raises the price target from $43 to $45.
MPLX's (NYSE:MPLX) short percent of float has fallen 3.86% since its last report. The company recently reported that it has 11.17 million shares sold short, which is 2.99% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.39 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is impo
MPLX's (NYSE:MPLX) short percent of float has risen 4.36% since its last report. The company recently reported that it has 11.59 million shares sold short, which is 3.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.54 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is impor
MPLX's (NYSE:MPLX) short percent of float has fallen 8.31% since its last report. The company recently reported that it has 11.13 million shares sold short, which is 2.98% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.25 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is impo
The 2034 senior notes were offered at a price to the public of 98.778% of par.
JP Morgan analyst Jeremy Tonet maintains MPLX (NYSE:MPLX) with a Overweight and raises the price target from $45 to $46.
Truist Securities analyst Neal Dingmann maintains MPLX (NYSE:MPLX) with a Buy and raises the price target from $43 to $48.
MPLX (NYSE:MPLX) underwent analysis by 4 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 1 0 0 0 Last 30D 1 0 0 0 0 1M Ago 1 1 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 0 0 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $46.25, a high estimate of $49.00, and a low estimate of $43.00. This current average has increased by 5.71% from the previous average p
Stifel analyst Selman Akyol maintains MPLX (NYSE:MPLX) with a Buy and raises the price target from $45 to $47.