MPLX Stock Recent News

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.

MPLX LP is a well-run master limited partnership that generated a strong dividend coverage of 1.6x in Q3. The midstream company achieved record EBITDA and distributable cash flow in Q3'23 and raised its distribution by 10%. MPLX is experiencing a favorable deleveraging trend, making it an attractive long-term investment for dividend investors.

MPLX is one of the best 9.5% yielding stocks in the world, a true rich retirement dream machine. The business is based on long-term contracted cash flows with investment-grade energy companies. MPLX plans to diversify into green energy and be around for decades, which is why bond investors are betting millions will be thriving in 2058.

MLPX LP is a top-tier income stock offering a dependable 9.4% yield. The company reported strong third-quarter earnings, achieving record figures for adjusted EBITDA and distributable cash flow. MPLX's resilient business model, uncorrelated with oil and gas prices, and strategic partnership with Marathon Petroleum contribute to its stability and growth potential.

MPLX generates plenty of cash to cover its monster distribution, which it just increased again. The MLP has a fortress-like balance sheet.

MPLX's Q3 earnings suffer due to rising total costs and expenses.

MPLX LP (NYSE:MPLX ) Q3 2023 Earnings Conference Call October 31, 2023 9:30 AM ET Company Participants Kristina Kazarian - VP, Finance & IR Michael Hennigan - Chairman, President and Chief Executive Officer John Quaid - Executive Vice President and Chief Financial Officer David Heppner - Senior Vice President of MPLX GP LLC Shawn Lyon - SVP, Logistics & Storage Gregory Floerke - Executive Vice President and Chief Operating Officer Conference Call Participants John Mackay - Goldman Sachs Theresa Chen - Barclays Brian Reynolds - UBS Bharath Reddy - JPMorgan Keith Stanley - Wolfe Research Michael Blum - Wells Fargo Doug Irwin - Citi Neal Dingmann - Truist Securities Operator Welcome to the MPLX Third Quarter 2023 Earnings Call. My name is Sheila, and I will be your operator for today's call.

MPLX LP (MPLX) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

MPLX LP (MPLX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Here is how MPLX LP (MPLX) and Phillips 66 (PSX) have performed compared to their sector so far this year.