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    MPLX LP Progresses Gulf Coast NGL Strategy and Reports Full-Year 2024 Results

    2/4/25 6:35:00 AM ET
    $MPC
    $MPLX
    $OKE
    Integrated oil Companies
    Energy
    Natural Gas Distribution
    Energy
    Get the next $MPC alert in real time by email

    FINDLAY, Ohio, Feb. 4, 2025 /PRNewswire/ --

    • Progresses Gulf Coast NGL strategy with announcement of fractionation complex and export terminal
    • Full-year 2024 net income attributable to MPLX of $4.3 billion and adjusted EBITDA of $6.8 billion, up 10% and 8%, respectively, year over year
    • $3.9 billion of capital returned to unitholders in 2024, reflecting 12.5% quarterly distribution increase and $326 million of unit repurchases
    • 2025 capital spending outlook of $2.0 billion, anticipating mid-teen returns

    MPLX LP (NYSE:MPLX) today reported fourth-quarter 2024 net income attributable to MPLX of $1,099 million, compared with $1,134 million for the fourth quarter of 2023. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) attributable to MPLX was $1,762 million, compared with $1,623 million for the fourth quarter of 2023.

    During the quarter, MPLX generated $1,675 million in net cash provided by operating activities, $1,477 million of distributable cash flow, and adjusted free cash flow of $1,324 million. MPLX announced a fourth-quarter 2024 distribution of $0.9565 per common unit, resulting in distribution coverage of 1.5x for the quarter. The leverage ratio was 3.1x at the end of the quarter.

    For the full year 2024, MPLX generated $5.9 billion in net cash provided by operating activities, $5.7 billion of distributable cash flow, and $3.9 billion of adjusted free cash flow, compared to $5.4 billion, $5.3 billion, and $4.1 billion, respectively, in 2023.

    "In 2024, we achieved 8% adjusted EBITDA growth," said Maryann Mannen, MPLX president and chief executive officer. "As part of our 2025 plan, we are executing our Gulf Coast NGL strategy and other growth projects anchored in the Permian and Marcellus basins. We continue to anticipate mid-teen returns on these projects, which will support mid-single digit adjusted EBITDA growth. This growth is expected to allow us to reinvest in the business and support annual distribution increases in the future."

    Financial Highlights (unaudited)





























    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    (In millions, except per unit and ratio data)



    2024





    2023





    2024





    2023

    Net income attributable to MPLX LP(a)

    $

    1,099



    $

    1,134



    $

    4,317



    $

    3,928

    Adjusted EBITDA attributable to MPLX LP(b)



    1,762





    1,623





    6,764





    6,269

    Net cash provided by operating activities



    1,675





    1,489





    5,946





    5,397

    Distributable cash flow attributable to MPLX LP(b)



    1,477





    1,384





    5,697





    5,340

    Distribution per common unit(c)

    $

    0.9565



    $

    0.8500



    $

    3.6130



    $

    3.2500

    Distribution coverage(d)



    1.5x





    1.6x





    1.5x





    1.6x

    Consolidated total debt to LTM adjusted EBITDA(e)



    3.1x





    3.3x





    3.1x





    3.3x

    Cash paid for common unit repurchases

    $

    100



    $

    —



    $

    326



    $

    —





























    (a)

    The twelve months ended December 31, 2024 includes a $151 million gain from the closing of the strategic transaction combining the Whistler and Rio Bravo natural gas assets. The three and twelve months ended December 31, 2023 include a $92 million gain associated with the acquisition of the remaining interest in a Permian basin joint venture.

    (b)

    Non-GAAP measures calculated before distributions to preferred unitholders. See reconciliation in the tables that follow.

    (c)

    Distributions declared by the board of directors of MPLX's general partner.

    (d)

    DCF attributable to LP unitholders divided by total LP distributions.

    (e)

    Calculated using face value total debt and LTM adjusted EBITDA. Also referred to as leverage ratio. See reconciliation in the tables that follow.

     

    Segment Results

    MPLX revised its reporting segments to Crude Oil and Products Logistics (formerly Logistics and Storage) and Natural Gas and NGL Services (formerly Gathering and Processing) to better reflect the value chains and growth strategy of MPLX's operations.

    With the change, certain equity method investments serving natural gas and NGL customers were moved from the Crude Oil and Products Logistics segment into the Natural Gas and NGL Services segment.

    All prior periods have been recast for comparability.



























    (In millions)





    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    Segment adjusted EBITDA attributable to MPLX LP (unaudited)





    2024





    2023





    2024





    2023

    Crude Oil and Products Logistics

    $



    1,123



    $

    1,063



    $

    4,375



    $

    4,134

    Natural Gas and NGL Services





    639





    560





    2,389





    2,135



























     

    Crude Oil and Products Logistics

    Crude Oil and Products Logistics segment adjusted EBITDA for the fourth quarter of 2024 increased by $60 million compared to the same period in 2023. The increase was primarily driven by higher rates and throughputs.

    Total pipeline throughputs were 5.9 million barrels per day (bpd) in the fourth quarter, an increase of 1% versus the same quarter of 2023. The average pipeline tariff rate was $1.06 per barrel for the quarter, an increase of 9% versus the same quarter of 2023. Terminal throughput was 3.1 million bpd for the quarter, an increase of 3% versus the same quarter of 2023.

    Natural Gas and NGL Services

    Natural Gas and NGL Services segment adjusted EBITDA for the fourth quarter of 2024 increased by $79 million compared to the same period in 2023, primarily due to increased volumes, including contributions from recently acquired assets in the Utica and Permian basins and growth from equity affiliates.

    In the fourth quarter of 2024:

    • Gathered volumes averaged 6.7 billion cubic feet per day (bcf/d), an 8% increase from the fourth quarter of 2023.
    • Processed volumes averaged 9.9 bcf/d, a 6% increase versus the fourth quarter of 2023.
    • Fractionated volumes averaged 683 thousand bpd, a 14% increase versus the fourth quarter of 2023.

    In the Marcellus: 

    • Gathered volumes averaged 1.5 bcf/d in the fourth quarter, a 3% increase versus the fourth quarter of 2023.
    • Processed volumes averaged 6.0 bcf/d in the fourth quarter, a 1% decrease versus the fourth quarter of 2023.
    • Fractionated volumes averaged 588 thousand bpd in the fourth quarter, a 12% increase versus the fourth quarter of 2023.

    Strategic Update

    In Natural Gas and NGL Services, MPLX is expanding its Permian to Gulf Coast integrated value chain, progressing long-haul pipeline growth projects to support expected increased producer activity, and investing in Permian and Marcellus processing capacity in response to producer demand. Updates on Natural Gas and NGL Services projects include:

              Newly Announced

    • A Gulf Coast fractionation complex consisting of two, 150 thousand bpd fractionation facilities adjacent to Marathon Petroleum's (NYSE:MPC) Galveston Bay refinery. The fractionation facilities are expected in service in 2028 and 2029. MPLX is contracting with MPC to purchase offtake from the fractionation complex, which MPC intends to market globally.
    • A strategic partnership with ONEOK, Inc. (NYSE:OKE) to develop a 400 thousand bpd LPG export terminal and an associated pipeline, which is anticipated in service in 2028.
    • The BANGL NGL pipeline partners have sanctioned an expansion from 250 thousand bpd to 300 thousand bpd, which is anticipated to come online in the second half of 2026. This pipeline will enable liquids to reach MPLX's Gulf Coast fractionation complex.

              Ongoing

    • The Blackcomb and Rio Bravo pipelines are progressing with an expected in-service date in the second half of 2026. These pipelines are designed to transport natural gas from the Permian to domestic and export markets along the Gulf Coast.
    • Secretariat, a 200 million cubic feet per day (mmcf/d) processing plant is expected online in the fourth quarter of 2025. This plant will bring MPLX's gas processing capacity in the Permian basin to 1.4 bcf/d.
    • Harmon Creek III, a 300 mmcf/d processing plant and 40 thousand bpd de-ethanizer, is expected online in the second half of 2026. This complex will bring MPLX's processing capacity in the Northeast to 8.1 bcf/d and fractionation capacity to 800 thousand bpd.

    In Crude Oil and Products Logistics, MPLX is expanding its crude gathering pipelines in the Permian and Bakken basins, and investing in projects targeted at the expansion or de-bottlenecking of assets.

    2025 Capital Outlook

    MPLX's capital spending outlook for 2025 is $2.0 billion, consisting of:

    • $1.45 billion of Natural Gas and NGL Services growth capital
    • $250 million of Crude Oil and Products Logistics growth capital
    • $300 million of maintenance capital

    Financial Position and Liquidity

    As of Dec. 31, 2024, MPLX had $1.5 billion in cash, $2.0 billion available on its bank revolving credit facility, and $1.5 billion available through its intercompany loan agreement with MPC. MPLX's leverage ratio was 3.1x, while the stability of cash flows supports leverage in the range of 4.0x.

    The partnership repurchased $100 million of common units held by the public in the fourth quarter of 2024. As of Dec. 31, 2024, MPLX had approximately $520 million remaining available under its unit repurchase authorization.

    Conference Call

    At 9:30 a.m. ET today, MPLX will hold a conference call and webcast to discuss the reported results and provide an update on operations. Interested parties may listen 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 this earnings release and other investor-related materials, 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 provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com.

    Investor Relations Contact: (419) 421-2071

    Kristina Kazarian, Vice President Finance and Investor Relations

    Brian Worthington, Senior Director, Investor Relations

    Isaac Feeney, Director, Investor Relations

    Media Contact: (419) 421-3577

    Jamal Kheiry, Communications Manager

    Non-GAAP references

    In addition to our financial information presented in accordance with U.S. generally accepted accounting principles (GAAP), management utilizes additional non-GAAP measures to analyze our performance. This press release and supporting schedules include the non-GAAP measures adjusted EBITDA; consolidated debt to last twelve months adjusted EBITDA, which we refer to as our leverage ratio; distributable cash flow (DCF); adjusted free cash flow (Adjusted FCF); and Adjusted FCF after distributions.

    Adjusted EBITDA is a financial performance measure used by management, industry analysts, investors, lenders, and rating agencies to assess the financial performance and operating results of our ongoing business operations. Additionally, we believe adjusted EBITDA provides useful information to investors for trending, analyzing and benchmarking our operating results from period to period as compared to other companies that may have different financing and capital structures. We define Adjusted EBITDA as net income adjusted for: (i) provision for income taxes; (ii) net interest and other financial costs; (iii) depreciation and amortization; (iv) income/(loss) from equity method investments; (v) distributions and adjustments related to equity method investments; (vi) impairment expense; (vii) noncontrolling interests; and (viii) other adjustments, as applicable.

    DCF is a financial performance and liquidity measure used by management and by the board of directors of our general partner as a key component in the determination of cash distributions paid to unitholders. We believe DCF is an important financial measure for unitholders as an indicator of cash return on investment and to evaluate whether the partnership is generating sufficient cash flow to support quarterly distributions. In addition, DCF is commonly used by the investment community because the market value of publicly traded partnerships is based, in part, on DCF and cash distributions paid to unitholders. We define DCF as Adjusted EBITDA adjusted for: (i) deferred revenue impacts; (ii) sales-type lease payments, net of income; (iii) adjusted net interest and other financial costs; (iv) net maintenance capital expenditures; (v) equity method investment capital expenditures paid out; and (vi) other adjustments as deemed necessary.

    Adjusted FCF and Adjusted FCF after distributions are financial liquidity measures used by management in the allocation of capital and to assess financial performance. We believe that unitholders may use this metric to analyze our ability to manage leverage and return capital. We define Adjusted FCF as net cash provided by operating activities adjusted for: (i) net cash used in investing activities; (ii) cash contributions from MPC; and (iii) cash distributions to noncontrolling interests. We define Adjusted FCF after distributions as Adjusted FCF less base distributions to common and preferred unitholders. We believe that the presentation of Adjusted EBITDA, DCF, Adjusted FCF and Adjusted FCF after distributions provides useful information to investors in assessing our financial condition and results of operations.

    Leverage ratio is a liquidity measure used by management, industry analysts, investors, lenders and rating agencies to analyze our ability to incur and service debt and fund capital expenditures.

    The GAAP measures most directly comparable to Adjusted EBITDA and DCF are net income and net cash provided by operating activities while the GAAP measure most directly comparable to Adjusted FCF and Adjusted FCF after distributions is net cash provided by operating activities. These non-GAAP financial measures should not be considered alternatives to GAAP net income or net cash provided by operating activities as they have important limitations as analytical tools because they exclude some but not all items that affect net income and net cash provided by operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. These non-GAAP financial measures should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP. Additionally, because non-GAAP financial measures may be defined differently by other companies in our industry, our definitions may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.

    For a reconciliation of Adjusted EBITDA, DCF, Adjusted FCF, Adjusted FCF after distributions and our leverage ratio to their most directly comparable measures calculated and presented in accordance with GAAP, see the tables below.

    Forward-Looking Statements

    This press release contains forward-looking statements regarding MPLX LP (MPLX). These forward-looking statements may relate to, among other things, MPLX's expectations, estimates and projections concerning its business and operations, financial priorities, including with respect to positive free cash flow and distribution coverage, strategic plans, capital return plans, capital expenditure plans, operating cost reduction objectives, and environmental, social and governance ("ESG") goals and targets, including those related to greenhouse gas emissions, biodiversity, diversity, equity and inclusion and ESG reporting. Forward-looking and other statements regarding our ESG goals and targets are not an indication that these statements are material to investors or required to be disclosed in our filings with the Securities Exchange Commission (SEC). In addition, historical, current, and forward-looking ESG-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. You can identify forward-looking statements by words such as "anticipate," "believe," "commitment," "could," "design," "endeavor," "estimate," "expect," "focus," "forecast," "goal," "guidance," "intend," "may," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "progress," "project," "prospective," "pursue," "seek," "should," "strategy," "strive," "target," "trends," "will," "would" or other similar expressions that convey the uncertainty of future events or outcomes. MPLX cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of MPLX, that could cause actual results and events to differ materially from the statements made herein. Factors that could cause MPLX's actual results to differ materially from those implied in the forward-looking statements include but are not limited to: political or regulatory developments, including changes in governmental policies relating to refined petroleum products, crude oil, natural gas, natural gas liquids ("NGLs") or renewables, or taxation; volatility in and degradation of general economic, market, industry or business conditions, including as a result of pandemics, other infectious disease outbreaks, natural hazards, extreme weather events, regional conflicts such as hostilities in the Middle East and in Ukraine, inflation or rising interest rates; the adequacy of capital resources and liquidity, including the availability of sufficient free cash flow from operations to pay or grow distributions and to fund future unit repurchases; the ability to access debt markets on commercially reasonable terms or at all; the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products or renewables; changes to the expected construction costs and in service dates of planned and ongoing projects and investments, including pipeline projects and new processing units, and the ability to obtain regulatory and other approvals with respect thereto; the inability or failure of our joint venture partners to fund their share of operations and development activities; the financing and distribution decisions of joint ventures we do not control; the availability of desirable strategic alternatives to optimize portfolio assets and the ability to obtain regulatory and other approvals with respect thereto; our ability to successfully implement our sustainable energy strategy and principles and to achieve our ESG goals and targets within the expected timeframes if at all; changes in government incentives for emission-reduction products and technologies; the outcome of research and development efforts to create future technologies necessary to achieve our ESG plans and goals; our ability to scale projects and technologies on a commercially competitive basis; changes in regional and global economic growth rates and consumer preferences, including consumer support for emission-reduction products and technology; industrial incidents or other unscheduled shutdowns affecting our machinery, pipelines, processing, fractionation and treating facilities or equipment, means of transportation, or those of our suppliers or customers; the suspension, reduction or termination of MPC's obligations under MPLX's commercial agreements; the imposition of windfall profit taxes, maximum refining margin penalties or minimum inventory requirements on companies operating in the energy industry in California or other jurisdictions; other risk factors inherent to MPLX's industry; the impact of adverse market conditions or other similar risks to those identified herein affecting MPC; and the factors set forth under the heading "Risk Factors" and "Disclosures Regarding Forward-Looking Statements" in MPLX's and MPC's Annual Reports on Form 10-K for the year ended Dec. 31, 2023, and in other filings with the SEC. 

    Any forward-looking statement speaks only as of the date of the applicable communication and we undertake no obligation to update any forward-looking statement except to the extent required by applicable law.

    Copies of MPLX's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office. Copies of MPC's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPC's website at https://www.marathonpetroleum.com/Investors/ or by contacting MPC's Investor Relations office.

























    Condensed Consolidated Results of Operations (unaudited)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    (In millions, except per unit data)



    2024





    2023





    2024





    2023

    Revenues and other income:























    Operating revenue

    $

    1,376



    $

    1,226



    $

    5,171



    $

    4,877

    Operating revenue - related parties



    1,464





    1,449





    5,733





    5,557

    Income from equity method investments(a)



    171





    162





    802





    600

    Other income(b)



    52





    129





    227





    247

    Total revenues and other income



    3,063





    2,966





    11,933





    11,281

    Costs and expenses:























    Operating expenses (including purchased product costs)



    835





    764





    3,203





    3,081

    Operating expenses - related parties



    425





    393





    1,601





    1,577

    Depreciation and amortization



    324





    306





    1,283





    1,213

    General and administrative expenses



    104





    99





    427





    379

    Other taxes



    32





    29





    131





    131

    Total costs and expenses



    1,720





    1,591





    6,645





    6,381

    Income from operations



    1,343





    1,375





    5,288





    4,900

    Net interest and other financial costs



    229





    222





    921





    923

    Income before income taxes



    1,114





    1,153





    4,367





    3,977

    Provision for income taxes



    5





    9





    10





    11

    Net income



    1,109





    1,144





    4,357





    3,966

    Less: Net income attributable to noncontrolling interests



    10





    10





    40





    38

    Net income attributable to MPLX LP



    1,099





    1,134





    4,317





    3,928

    Less: Series A preferred unitholders interest in net income



    6





    23





    27





    94

    Less: Series B preferred unitholders interest in net income



    —





    —





    —





    5

    Limited partners' interest in net income attributable to MPLX LP

    $

    1,093



    $

    1,111



    $

    4,290



    $

    3,829

























    Per Unit Data























    Net income attributable to MPLX LP per limited partner unit:























    Common – basic

    $

    1.07



    $

    1.10



    $

    4.21



    $

    3.80

    Common – diluted

    $

    1.07



    $

    1.10



    $

    4.21



    $

    3.80

    Weighted average limited partner units outstanding:























    Common units – basic



    1,018





    1,002





    1,016





    1,001

    Common units – diluted



    1,019





    1,003





    1,017





    1,002





























    (a)

    The twelve months ended December 31, 2024 includes a $151 million gain from the closing of the strategic transaction combining the Whistler and Rio Bravo natural gas assets (the "Whistler Joint Venture Transaction").

    (b)

    The three and twelve months ended December 31, 2023 include a $92 million gain associated with the acquisition of the remaining interest in a Permian basin joint venture.

     

























    Select Financial Statistics (unaudited)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    (In millions, except ratio data)



    2024





    2023





    2024





    2023

    Common unit distributions declared by MPLX LP























    Common units (LP) – public

    $

    353



    $

    303



    $

    1,339



    $

    1,152

    Common units – MPC



    619





    550





    2,339





    2,104

    Total GP and LP distribution declared



    972





    853





    3,678





    3,256

























    Preferred unit distributions(a)























    Series A preferred unit distributions



    6





    23





    27





    94

    Series B preferred unit distributions



    —





    —





    —





    5

    Total preferred unit distributions



    6





    23





    27





    99

























    Other Financial Data























    Adjusted EBITDA attributable to MPLX LP(b)



    1,762





    1,623





    6,764





    6,269

    DCF attributable to LP unitholders(b)

    $

    1,471



    $

    1,361



    $

    5,670



    $

    5,241

    Distribution coverage(c)



    1.5x





    1.6x





    1.5x





    1.6x

























    Cash Flow Data























    Net cash flow provided by (used in):























    Operating activities

    $

    1,675



    $

    1,489



    $

    5,946



    $

    5,397

    Investing activities



    (349)





    (525)





    (1,995)





    (1,252)

    Financing activities

    $

    (2,233)



    $

    (876)



    $

    (3,480)



    $

    (3,335)





























    (a)

    Includes MPLX distributions declared on the Series A preferred units as well as distributions earned on the Series B preferred units. Series A preferred unitholders receive the greater of $0.528125 per unit or the amount of per unit distributions paid to holders of MPLX LP common units. Series B preferred unitholders received a fixed distribution of $68.75 per unit, per annum, payable semi-annually in arrears. The Series B preferred units were redeemed effective February 15, 2023. Cash distributions declared/to be paid to holders of the Series A and Series B preferred units are not available to common unitholders.

    (b)

    Non-GAAP measure. See reconciliation below.

    (c)

    DCF attributable to LP unitholders divided by total LP distribution declared.

     













    Financial Data (unaudited)











    (In millions, except ratio data)



    December 31,

    2024





    December 31,

    2023

    Cash and cash equivalents

    $

    1,519



    $

    1,048

    Total assets



    37,511





    36,529

    Total debt(a)



    20,948





    20,431

    Redeemable preferred units



    203





    895

    Total equity

    $

    13,807



    $

    12,689

    Consolidated debt to LTM adjusted EBITDA(b)



    3.1x





    3.3x













    Partnership units outstanding:











    MPC-held common units



    647





    647

    Public common units



    370





    356













    (a)

    There were no borrowings on the loan agreement with MPC as of December 31, 2024, or December 31, 2023. Presented net of unamortized debt issuance costs, unamortized discount/premium and includes long-term debt due within one year.

    (b)

    Calculated using face value total debt and LTM adjusted EBITDA. Face value total debt was $21,206 million as of December 31, 2024, and $20,706 million as of December 31, 2023.

     

































    Operating Statistics (unaudited)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,



    2024





    2023



    %

    Change





    2024





    2023



    %

    Change

    Crude Oil and Products Logistics































    Pipeline throughput (mbpd)































    Crude oil pipelines



    3,831





    3,701



    4 %





    3,785





    3,772



    — %

    Product pipelines



    2,026





    2,078



    (3) %





    1,997





    2,040



    (2) %

    Total pipelines



    5,857





    5,779



    1 %





    5,782





    5,812



    (1) %

































    Average tariff rates ($ per barrel)































    Crude oil pipelines

    $

    1.08



    $

    0.98



    10 %



    $

    1.03



    $

    0.96



    7 %

    Product pipelines



    1.03





    0.96



    7 %





    1.00





    0.90



    11 %

    Total pipelines

    $

    1.06



    $

    0.97



    9 %



    $

    1.02



    $

    0.94



    9 %

































    Terminal throughput (mbpd)



    3,128





    3,023



    3 %





    3,131





    3,130



    — %

































    Barges at period-end



    319





    305



    5 %





    319





    305



    5 %

    Towboats at period-end



    29





    29



    — %





    29





    29



    — %

































     

































    Natural Gas and NGL Services

    Operating Statistics (unaudited) - 

    Consolidated
    (a)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,



    2024





    2023



    %

    Change





    2024





    2023



    %

    Change

    Gathering throughput (MMcf/d)































    Marcellus Operations



    1,538





    1,495



    3 %





    1,521





    1,389



    10 %

    Utica Operations



    338





    —



    — %





    264





    —



    — %

    Southwest Operations



    1,788





    1,442



    24 %





    1,698





    1,369



    24 %

    Bakken Operations



    185





    182



    2 %





    183





    165



    11 %

    Rockies Operations



    552





    505



    9 %





    560





    474



    18 %

    Total gathering throughput



    4,401





    3,624



    21 %





    4,226





    3,397



    24 %

































    Natural gas processed (MMcf/d)































    Marcellus Operations



    4,383





    4,392



    — %





    4,366





    4,179



    4 %

    Utica Operations(b)



    —





    —



    — %





    —





    —



    — %

    Southwest Operations



    2,020





    1,537



    31 %





    1,844





    1,466



    26 %

    Southern Appalachia Operations



    206





    207



    — %





    215





    216



    — %

    Bakken Operations



    183





    182



    1 %





    182





    163



    12 %

    Rockies Operations



    596





    515



    16 %





    616





    483



    28 %

    Total natural gas processed



    7,388





    6,833



    8 %





    7,223





    6,507



    11 %

































    C2 + NGLs fractionated (mbpd)































    Marcellus Operations



    588





    523



    12 %





    565





    530



    7 %

    Utica Operations(b)



    —





    —



    — %





    —





    —



    — %

    Southern Appalachia Operations



    12





    12



    — %





    12





    11



    9 %

    Bakken Operations



    19





    22



    (14) %





    20





    20



    — %

    Rockies Operations



    5





    3



    67 %





    5





    3



    67 %

    Total C2 + NGLs fractionated



    624





    560



    11 %





    602





    564



    7 %

































    (a)

    Includes operating data for entities that have been consolidated into the MPLX financial statements.

    (b)

    The Utica region processing and fractionation operations only include partnership-operated equity method investments and thus do not have any operating statistics from a consolidated perspective. See table below for details on Utica.

     

































    Natural Gas and NGL Services

    Operating Statistics (unaudited) -

    Operated(a)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,



    2024





    2023



    %

    Change





    2024





    2023



    %

    Change

    Gathering throughput (MMcf/d)































    Marcellus Operations



    1,538





    1,495



    3 %





    1,521





    1,389



    10 %

    Utica Operations



    2,608





    2,196



    19 %





    2,544





    2,338



    9 %

    Southwest Operations



    1,788





    1,762



    1 %





    1,698





    1,772



    (4) %

    Bakken Operations



    185





    182



    2 %





    183





    165



    11 %

    Rockies Operations



    615





    617



    — %





    633





    593



    7 %

    Total gathering throughput



    6,734





    6,252



    8 %





    6,579





    6,257



    5 %

































    Natural gas processed (MMcf/d)































    Marcellus Operations



    6,006





    6,041



    (1) %





    5,974





    5,773



    3 %

    Utica Operations



    923





    653



    41 %





    832





    564



    48 %

    Southwest Operations



    2,020





    1,777



    14 %





    1,844





    1,772



    4 %

    Southern Appalachia Operations



    206





    207



    — %





    215





    216



    — %

    Bakken Operations



    183





    182



    1 %





    182





    163



    12 %

    Rockies Operations



    596





    515



    16 %





    616





    483



    28 %

    Total natural gas processed



    9,934





    9,375



    6 %





    9,663





    8,971



    8 %

































    C2 + NGLs fractionated (mbpd)































    Marcellus Operations



    588





    523



    12 %





    565





    530



    7 %

    Utica Operations



    59





    39



    51 %





    52





    33



    58 %

    Southern Appalachia Operations



    12





    12



    — %





    12





    11



    9 %

    Bakken Operations



    19





    22



    (14) %





    20





    20



    — %

    Rockies Operations



    5





    3



    67 %





    5





    3



    67 %

    Total C2 + NGLs fractionated



    683





    599



    14 %





    654





    597



    10 %





































    (a)

    Includes operating data for entities that have been consolidated into the MPLX financial statements as well as operating data for partnership-operated equity method investments.

     

     

     

























    Reconciliation of Segment Adjusted EBITDA to

    Net Income (unaudited)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    (In millions)



    2024





    2023





    2024





    2023

    Crude Oil and Products Logistics segment adjusted

    EBITDA attributable to MPLX LP

    $

    1,123



    $

    1,063



    $

    4,375



    $

    4,134

    Natural Gas and NGL Services segment adjusted

    EBITDA attributable to MPLX LP



    639





    560





    2,389





    2,135

    Adjusted EBITDA attributable to MPLX LP



    1,762





    1,623





    6,764





    6,269

    Depreciation and amortization



    (324)





    (306)





    (1,283)





    (1,213)

    Net interest and other financial costs



    (229)





    (222)





    (921)





    (923)

    Income from equity method investments



    171





    162





    802





    600

    Distributions/adjustments related to equity method investments



    (257)





    (223)





    (928)





    (774)

    Gain on sales-type leases and equity method investments



    —





    92





    —





    92

    Adjusted EBITDA attributable to noncontrolling interests



    11





    11





    44





    42

    Garyville incident response recoveries (costs)



    —





    47





    —





    (16)

    Other(a)



    (25)





    (40)





    (121)





    (111)

    Net income

    $

    1,109



    $

    1,144



    $

    4,357



    $

    3,966





























    (a)

    Includes unrealized derivative gain/(loss), equity-based compensation, provision for income taxes, and other miscellaneous items.

     

























    Reconciliation of Segment Adjusted EBITDA to

    Income from Operations (unaudited)

    Three Months Ended 

    December 31,



    Twelve Months Ended 

    December 31,

    (In millions)



    2024





    2023





    2024





    2023

    Crude Oil and Products Logistics























    Segment adjusted EBITDA

    $

    1,123



    $

    1,063





    4,375





    4,134

    Depreciation and amortization



    (133)





    (131)





    (526)





    (530)

    Income from equity method investments



    56





    79





    269





    270

    Distributions/adjustments related to equity method investments



    (97)





    (97)





    (347)





    (307)

    Garyville incident response recoveries (costs)



    —





    47





    —





    (16)

    Other



    (15)





    (12)





    (55)





    (39)

























    Natural Gas and NGL Services























    Segment adjusted EBITDA



    639





    560





    2,389





    2,135

    Depreciation and amortization



    (191)





    (175)





    (757)





    (683)

    Income from equity method investments



    115





    83





    533





    330

    Distributions/adjustments related to equity method investments



    (160)





    (126)





    (581)





    (467)

    Gain on sales-type leases and equity method investments



    —





    92





    —





    92

    Adjusted EBITDA attributable to noncontrolling interests



    11





    11





    44





    42

    Other



    (5)





    (19)





    (56)





    (61)

























    Income from operations

    $

    1,343



    $

    1,375



    $

    5,288



    $

    4,900

























                   













    Reconciliation of Adjusted EBITDA Attributable to

    MPLX LP and DCF Attributable to LP Unitholders

    from Net Income (unaudited)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    (In millions)



    2024





    2023





    2024





    2023

    Net income

    $

    1,109



    $

    1,144



    $

    4,357



    $

    3,966

    Provision for income taxes



    5





    9





    10





    11

    Net interest and other financial costs



    229





    222





    921





    923

    Income from operations



    1,343





    1,375





    5,288





    4,900

    Depreciation and amortization



    324





    306





    1,283





    1,213

    Income from equity method investments



    (171)





    (162)





    (802)





    (600)

    Distributions/adjustments related to equity

    method investments



    257





    223





    928





    774

    Gain on sales-type leases and equity method investments



    —





    (92)





    —





    (92)

    Garyville incident response (recoveries) costs



    —





    (47)





    —





    16

    Other



    20





    31





    111





    100

    Adjusted EBITDA



    1,773





    1,634





    6,808





    6,311

    Adjusted EBITDA attributable to noncontrolling interests



    (11)





    (11)





    (44)





    (42)

    Adjusted EBITDA attributable to MPLX LP



    1,762





    1,623





    6,764





    6,269

    Deferred revenue impacts



    25





    32





    31





    97

    Sales-type lease payments, net of income



    12





    3





    32





    12

    Adjusted net interest and other financial costs(a)



    (216)





    (209)





    (867)





    (859)

    Maintenance capital expenditures, net of reimbursements



    (86)





    (57)





    (206)





    (150)

    Equity method investment maintenance capital

    expenditures paid out



    (7)





    (4)





    (18)





    (15)

    Other



    (13)





    (4)





    (39)





    (14)

    DCF attributable to MPLX LP



    1,477





    1,384





    5,697





    5,340

    Preferred unit distributions(b)



    (6)





    (23)





    (27)





    (99)

    DCF attributable to LP unitholders

    $

    1,471



    $

    1,361



    $

    5,670



    $

    5,241





























    (a)

    Represents Net interest and other financial costs, excluding gain/loss on extinguishment of debt and amortization of deferred financing costs.

    (b)

    Includes MPLX distributions declared on the Series A preferred units, as well as cash distributions earned by the Series B preferred units (as the Series B preferred units are declared and payable semi-annually). The Series B preferred units were redeemed effective February 15, 2023. Cash distributions declared/to be paid to holders of the Series A preferred units and Series B preferred units are not available to common unitholders.

     







    Reconciliation of Net Income to Last Twelve Month (LTM) adjusted

    EBITDA (unaudited)



    Last Twelve Months



    December 31,

    (In millions)



    2024





    2023

    LTM Net income

    $

    4,357



    $

    3,966

    Provision for income taxes



    10





    11

    Net interest and other financial costs



    921





    923

    LTM income from operations



    5,288





    4,900

    Depreciation and amortization



    1,283





    1,213

    Income from equity method investments



    (802)





    (600)

    Distributions/adjustments related to equity method investments



    928





    774

    Gain on sales-type leases and equity method investments



    —





    (92)

    Garyville incident response costs



    —





    16

    Other



    111





    100

    LTM Adjusted EBITDA



    6,808





    6,311

    Adjusted EBITDA attributable to noncontrolling interests



    (44)





    (42)

    LTM Adjusted EBITDA attributable to MPLX LP



    6,764





    6,269

    Consolidated total debt(a)

    $

    21,206



    $

    20,706

    Consolidated total debt to LTM adjusted EBITDA(b)



    3.1x





    3.3x

















    (a)

    Consolidated total debt excludes unamortized debt issuance costs and unamortized discount/premium. Consolidated total debt includes long-term debt due within one year and outstanding borrowings, if any, under the loan agreement with MPC.

    (b)

    Also referred to as our leverage ratio.

     



















    Reconciliation of Adjusted EBITDA Attributable to

    MPLX LP and DCF Attributable to LP Unitholders

    from Net Cash Provided by Operating Activities

    (unaudited)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    (In millions)



    2024





    2023





    2024





    2023

    Net cash provided by operating activities

    $

    1,675



    $

    1,489



    $

    5,946



    $

    5,397

    Changes in working capital items



    (186)





    (93)





    (241)





    (169)

    All other, net



    8





    31





    (5)





    39

    Loss on extinguishment of debt



    —





    —





    —





    9

    Adjusted net interest and other financial costs(a)



    216





    209





    867





    859

    Other adjustments related to equity method investments



    27





    13





    102





    38

    Garyville incident response (recoveries) costs



    —





    (47)





    —





    16

    Other



    33





    32





    139





    122

    Adjusted EBITDA



    1,773





    1,634





    6,808





    6,311

    Adjusted EBITDA attributable to noncontrolling interests



    (11)





    (11)





    (44)





    (42)

    Adjusted EBITDA attributable to MPLX LP



    1,762





    1,623





    6,764





    6,269

    Deferred revenue impacts



    25





    32





    31





    97

    Sales-type lease payments, net of income



    12





    3





    32





    12

    Adjusted net interest and other financial costs(a)



    (216)





    (209)





    (867)





    (859)

    Maintenance capital expenditures, net of reimbursements



    (86)





    (57)





    (206)





    (150)

    Equity method investment maintenance capital expenditures paid out



    (7)





    (4)





    (18)





    (15)

    Other



    (13)





    (4)





    (39)





    (14)

    DCF attributable to MPLX LP



    1,477





    1,384





    5,697





    5,340

    Preferred unit distributions(b)



    (6)





    (23)





    (27)





    (99)

    DCF attributable to LP unitholders

    $

    1,471



    $

    1,361



    $

    5,670



    $

    5,241





























    (a)

    Represents net interest and other financial costs, excluding gain/loss on extinguishment of debt and amortization of deferred financing costs.

    (b)

    Includes MPLX distributions declared on the Series A preferred units, as well as cash distributions earned by the Series B preferred units (as the Series B preferred units are declared and payable semi-annually). The Series B preferred units were redeemed effective February 15, 2023. Cash distributions declared/to be paid to holders of the Series A preferred units and Series B preferred units are not available to common unitholders.

     

























    Reconciliation of Net Cash Provided by Operating

    Activities to Adjusted Free Cash Flow and

    Adjusted Free Cash Flow after Distributions

    (unaudited)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    (In millions)



    2024





    2023





    2024





    2023

    Net cash provided by operating activities(a)

    $

    1,675



    $

    1,489



    $

    5,946



    $

    5,397

    Adjustments to reconcile net cash provided by

    operating activities to adjusted free cash flow























    Net cash used in investing activities(b)



    (349)





    (525)





    (1,995)





    (1,252)

    Contributions from MPC



    9





    11





    35





    31

    Distributions to noncontrolling interests



    (11)





    (11)





    (44)





    (41)

    Adjusted free cash flow



    1,324





    964





    3,942





    4,135

    Distributions paid to common and preferred unitholders



    (980)





    (877)





    (3,603)





    (3,296)

    Adjusted free cash flow after distributions

    $

    344



    $

    87



    $

    339



    $

    839





























    (a)

    The three months ended December 31, 2024 and December 31, 2023 include working capital draws of $186 million and $93 million, respectively. The twelve months ended December 31, 2024 and December 31, 2023 include working capital draws of $241 million and $169 million, respectively.

    (b)

    The twelve months ended months ended December 31, 2024 includes $622 million, net of cash acquired, related to the purchase of additional ownership interest in existing joint ventures and gathering assets in the Utica, $210 million and $18 million related to the acquisition of additional interests in BANGL, LLC and Wink to Webster Pipeline LLC, respectively, a contribution of $92 million to fund our share of a debt repayment by a joint venture and a $134 million cash distribution received in connection with the Whistler Joint Venture Transaction.

     

























    Capital Expenditures (unaudited)



    Three Months Ended 

    December 31,





    Twelve Months Ended 

    December 31,

    (In millions)



    2024





    2023





    2024





    2023

    Capital Expenditures:























    Growth capital expenditures

    $

    227



    $

    283



    $

    796



    $

    838

    Growth capital reimbursements



    (51)





    (46)





    (115)





    (165)

    Investments in unconsolidated affiliates(a)



    50





    8





    236





    98

    Return of capital



    (8)





    (3)





    (12)





    (3)

    Capitalized interest



    (4)





    (4)





    (16)





    (14)

    Total growth capital expenditures(b)



    214





    238





    889





    754

    Maintenance capital expenditures



    103





    68





    254





    181

    Maintenance capital reimbursements



    (17)





    (11)





    (48)





    (31)

    Capitalized interest



    (1)





    —





    (3)





    (1)

    Total maintenance capital expenditures



    85





    57





    203





    149

























    Total growth and maintenance capital expenditures



    299





    295





    1,092





    903

    Investments in unconsolidated affiliates(a)



    (50)





    (8)





    (236)





    (98)

    Return of capital



    8





    3





    12





    3

    Growth and maintenance capital reimbursements(c)



    68





    57





    163





    196

    (Increase)/Decrease in capital accruals



    (22)





    (76)





    6





    (82)

    Capitalized interest



    5





    4





    19





    15

    Additions to property, plant and equipment

    $

    308



    $

    275



    $

    1,056



    $

    937





























    (a)

    Investments in unconsolidated affiliates for the twelve months ended December 31, 2024 exclude $210 million and $18 million related to the acquisition of additional interests in BANGL, LLC and Wink to Webster Pipeline LLC, respectively. Investments in unconsolidated affiliates and additions to property, plant and equipment, net are shown as separate lines within investing activities in the Consolidated Statements of Cash Flows.

    (b)

    Total growth capital expenditures for the twelve months ended December 31, 2024 exclude $622 million of acquisitions, net of cash acquired, and a $134 million cash distribution received in connection with the Whistler Joint Venture Transaction. Total growth capital expenditures for the three and twelve months ended December 31, 2023 exclude $246 million of acquisitions.

    (c)

    Growth capital reimbursements are generally included in changes in deferred revenue within operating activities in the Consolidated Statements of Cash Flows. Maintenance capital reimbursements are included in the Contributions from MPC line within financing activities in the Consolidated Statements of Cash Flows.

     

    Cision View original content:https://www.prnewswire.com/news-releases/mplx-lp-progresses-gulf-coast-ngl-strategy-and-reports-full-year-2024-results-302367296.html

    SOURCE MPLX LP

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      FINDLAY, Ohio, May 6, 2025 /PRNewswire/ -- Executing Natural Gas & NGL growth strategy with agreement to acquire 100% ownership in BANGL, LLC and FID of the Traverse natural gas pipelineFirst-quarter net income attributable to MPLX of $1.1 billion and net cash provided by operating activities of $1.2 billionAdjusted EBITDA attributable to MPLX of $1.8 billion, reflecting execution of value chain growth strategyDistributable cash flow of $1.5 billion, enabling the return of $1.1 billion of capitalMPLX LP (NYSE:MPLX) today reported first-quarter 2025 net income attributable to MPLX of $1,126 million, compared with $1,005 million for the first quarter of 2024. Adjusted earnings before interest

      5/6/25 6:35:00 AM ET
      $MPC
      $MPLX
      Integrated oil Companies
      Energy
      Natural Gas Distribution
    • Marathon Petroleum Corp. Reports First-Quarter 2025 Results

      FINDLAY, Ohio, May 6, 2025 /PRNewswire/ -- First-quarter net loss attributable to MPC of $(74) million, or $(0.24) per diluted share mainly due to execution of second largest planned maintenance quarter in MPC history$2.0 billion of adjusted EBITDA, supported by the strength of the Midstream businessExecuting Natural Gas & NGL growth strategy with MPLX's agreement to acquire 100% ownership in BANGL, LLC and FID of the Traverse natural gas pipeline$1.3 billion of capital returned, inclusive of $1.1 billion of share repurchasesMarathon Petroleum Corp. (NYSE: MPC) today reported net loss attributable to MPC of $(74) million, or $(0.24) per diluted share, for the first quarter of 2025, compared

      5/6/25 6:30:00 AM ET
      $MPC
      Integrated oil Companies
      Energy

    $MPC
    $MPLX
    $OKE
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

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    • Chief Commercial Officer Hessling Ricky D. bought $269,440 worth of shares (2,000 units at $134.72), increasing direct ownership by 20% to 12,162 units (SEC Form 4)

      4 - Marathon Petroleum Corp (0001510295) (Issuer)

      3/13/25 6:55:55 AM ET
      $MPC
      Integrated oil Companies
      Energy
    • Senior VP, Log. & Storage Lyon Shawn M bought $211,000 worth of Common Units (4,000 units at $52.75), increasing direct ownership by 19% to 25,299 units (SEC Form 4)

      4 - MPLX LP (0001552000) (Issuer)

      3/11/25 6:58:58 AM ET
      $MPLX
      Natural Gas Distribution
      Energy
    • Director Bayh Evan bought $133,700 worth of shares (1,000 units at $133.70), increasing direct ownership by 1% to 69,305 units (SEC Form 4)

      4 - Marathon Petroleum Corp (0001510295) (Issuer)

      3/7/25 7:10:39 AM ET
      $MPC
      Integrated oil Companies
      Energy

    $MPC
    $MPLX
    $OKE
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

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    • Director Surma John P was granted 2,848 units of Common Units, increasing direct ownership by 4% to 83,229 units (SEC Form 4)

      4 - MPLX LP (0001552000) (Issuer)

      5/5/25 7:41:42 AM ET
      $MPLX
      Natural Gas Distribution
      Energy
    • Director Stice J Michael was granted 2,848 units of Common Units, increasing direct ownership by 6% to 49,406 units (SEC Form 4)

      4 - MPLX LP (0001552000) (Issuer)

      5/5/25 7:38:30 AM ET
      $MPLX
      Natural Gas Distribution
      Energy
    • Director Semple Frank M was granted 2,848 units of Common Units, increasing direct ownership by 6% to 53,928 units (SEC Form 4)

      4 - MPLX LP (0001552000) (Issuer)

      5/5/25 7:34:25 AM ET
      $MPLX
      Natural Gas Distribution
      Energy

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    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

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    • Amendment: SEC Form SC 13G/A filed by Marathon Petroleum Corporation

      SC 13G/A - Marathon Petroleum Corp (0001510295) (Subject)

      9/10/24 10:30:07 AM ET
      $MPC
      Integrated oil Companies
      Energy
    • SEC Form SC 13D/A filed by MPLX LP (Amendment)

      SC 13D/A - MPLX LP (0001552000) (Subject)

      5/10/24 4:59:28 PM ET
      $MPLX
      Natural Gas Distribution
      Energy
    • SEC Form SC 13G/A filed by ONEOK Inc. (Amendment)

      SC 13G/A - ONEOK INC /NEW/ (0001039684) (Subject)

      2/13/24 5:12:03 PM ET
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      Oil & Gas Production
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    SEC Filings

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    • SEC Form DEFA14A filed by ONEOK Inc.

      DEFA14A - ONEOK INC /NEW/ (0001039684) (Filer)

      5/8/25 1:20:36 PM ET
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      Oil & Gas Production
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    • SEC Form 10-Q filed by MPLX LP

      10-Q - MPLX LP (0001552000) (Filer)

      5/6/25 1:14:36 PM ET
      $MPLX
      Natural Gas Distribution
      Energy
    • SEC Form 10-Q filed by Marathon Petroleum Corporation

      10-Q - Marathon Petroleum Corp (0001510295) (Filer)

      5/6/25 1:07:36 PM ET
      $MPC
      Integrated oil Companies
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    Financials

    Live finance-specific insights

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    • MPLX LP Reports First-Quarter 2025 Financial Results

      FINDLAY, Ohio, May 6, 2025 /PRNewswire/ -- Executing Natural Gas & NGL growth strategy with agreement to acquire 100% ownership in BANGL, LLC and FID of the Traverse natural gas pipelineFirst-quarter net income attributable to MPLX of $1.1 billion and net cash provided by operating activities of $1.2 billionAdjusted EBITDA attributable to MPLX of $1.8 billion, reflecting execution of value chain growth strategyDistributable cash flow of $1.5 billion, enabling the return of $1.1 billion of capitalMPLX LP (NYSE:MPLX) today reported first-quarter 2025 net income attributable to MPLX of $1,126 million, compared with $1,005 million for the first quarter of 2024. Adjusted earnings before interest

      5/6/25 6:35:00 AM ET
      $MPC
      $MPLX
      Integrated oil Companies
      Energy
      Natural Gas Distribution
    • Marathon Petroleum Corp. Reports First-Quarter 2025 Results

      FINDLAY, Ohio, May 6, 2025 /PRNewswire/ -- First-quarter net loss attributable to MPC of $(74) million, or $(0.24) per diluted share mainly due to execution of second largest planned maintenance quarter in MPC history$2.0 billion of adjusted EBITDA, supported by the strength of the Midstream businessExecuting Natural Gas & NGL growth strategy with MPLX's agreement to acquire 100% ownership in BANGL, LLC and FID of the Traverse natural gas pipeline$1.3 billion of capital returned, inclusive of $1.1 billion of share repurchasesMarathon Petroleum Corp. (NYSE: MPC) today reported net loss attributable to MPC of $(74) million, or $(0.24) per diluted share, for the first quarter of 2025, compared

      5/6/25 6:30:00 AM ET
      $MPC
      Integrated oil Companies
      Energy
    • Marathon Petroleum Corp. Announces Quarterly Dividend

      FINDLAY, Ohio, April 30, 2025 /PRNewswire/ -- The board of directors of Marathon Petroleum Corp. (NYSE:MPC) has declared a dividend of $0.91 per share on common stock. The dividend is payable June 10, 2025, to shareholders of record as of the close of business May 21, 2025. About Marathon Petroleum Corporation MPC is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and opera

      4/30/25 3:45:00 PM ET
      $MPC
      Integrated oil Companies
      Energy

    $MPC
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    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

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    • TD Cowen reiterated coverage on Marathon Petroleum with a new price target

      TD Cowen reiterated coverage of Marathon Petroleum with a rating of Buy and set a new price target of $152.00 from $142.00 previously

      5/7/25 6:58:43 AM ET
      $MPC
      Integrated oil Companies
      Energy
    • Citigroup resumed coverage on ONEOK with a new price target

      Citigroup resumed coverage of ONEOK with a rating of Buy and set a new price target of $110.00

      2/28/25 7:41:18 AM ET
      $OKE
      Oil & Gas Production
      Utilities
    • ONEOK upgraded by Wolfe Research with a new price target

      Wolfe Research upgraded ONEOK from Peer Perform to Outperform and set a new price target of $110.00

      2/10/25 7:03:15 AM ET
      $OKE
      Oil & Gas Production
      Utilities

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    Leadership Updates

    Live Leadership Updates

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    • MPLX LP Announces Leadership Transition Effective August 1, 2024

      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

      5/13/24 4:45:00 PM ET
      $MPC
      $MPLX
      Integrated oil Companies
      Energy
      Natural Gas Distribution
    • Marathon Petroleum Corp. Announces Leadership Transition Effective August 1, 2024

      Maryann Mannen elected President and CEO, will join the Board of DirectorsMike Hennigan to transition from CEO to Executive Chairman of the Board of DirectorsJohn Surma elected Lead Independent DirectorFINDLAY, Ohio, May 13, 2024 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE:MPC) today announced its leadership transition plan, with all positions effective August 1, 2024. At that time, MPC President Maryann T. Mannen will succeed Michael J. Hennigan as Chief Executive Officer and will join the Board of Directors; Hennigan will transition from CEO to Executive Chairman of the Board; and, continuing as the Board's strong independent voice, MPC Chairman John Surma has been elected to serve as L

      5/13/24 4:45:00 PM ET
      $MPC
      Integrated oil Companies
      Energy
    • WHISTLER PIPELINE AND ENBRIDGE AGREE TO STRATEGIC COMBINATION OF WHISTLER AND RIO BRAVO NATURAL GAS ASSETS

      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

      3/26/24 7:00:00 AM ET
      $ENB
      $MPLX
      Natural Gas Distribution
      Energy