MPLX Stock Recent News
MPLX LATEST HEADLINES
MPLX LP (MPLX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Here is how MPLX LP (MPLX) and SM Energy (SM) have performed compared to their sector so far this year.
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Iron Mountain (IRM), MPLX, PulteGroup (PHM), META and W. R. Berkley (WRB) are some of the stocks with high ROE to profit from as high bond yields hit equity markets hard.
MPLX LP, a midstream energy infrastructure and logistics company, has seen a meaningful upside in its unit price due to strong financial performance and growth initiatives. In the final quarter of 2023, MPLX reported an 11.4% increase in revenue, driven by increased crude oil throughput and higher tariffs. The company's profits and cash flows have also grown, and shares are attractively priced, making it a compelling prospect.
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MPLX LP has experienced a steady recovery since the initial oil price collapse, with its share price quadrupling to over $40 billion. The company has strong financial performance, returning $3.3 billion to unit holders and maintaining a 1.6x distribution coverage. MPLX is focused on investing in growth capital and bolt-on acquisitions, with a strong balance sheet and low debt ratio.
Since partnering with Summit in the Utica Shale in 2014, MPLX's acquisitions of OGC and OCC assets strengthen its regional foothold.
MPLX LP (MPLX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
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.