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 |
FINDLAY, Ohio, June 5, 2025 /PRNewswire/ -- MPLX LP (NYSE:MPLX) will host a conference call on Tuesday, August 5, 2025, at 9:30 a.m. EDT to discuss 2025 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 provid
I Squared Capital, a leading independent global infrastructure investment manager, together with MPLX LP (NYSE:MPLX), and Enbridge Inc. (NYSE:ENB), today announced that it has agreed to acquire a significant equity interest in the Matterhorn Express Pipeline (MXP), a 2.5 billion cubic feet per day (Bcf/d) natural gas pipeline connecting the Permian Basin to key Texas demand centers and U.S. Gulf Coast LNG export terminals. "This investment exemplifies our strategy of acquiring critical infrastructure assets that support the major re-industrialization themes we see in the U.S. economy today," said Gautam Bhandari, Global Chief Investment Officer and Managing Partner of I Squared Capital. "T
AUSTIN, Texas, May 6, 2025 /PRNewswire/ -- I Squared, MPLX LP (NYSE:MPLX), and Enbridge Inc. (NYSE:ENB) jointly announce they have entered into a definitive agreement to acquire equity interests in the Matterhorn Express Pipeline from Ridgemont Equity Partners and Devon Energy Corp. (NYSE:DVN). Following the close of the transaction, WhiteWater, MPLX and Enbridge will own 65%, 10% and 10% of the Matterhorn Express Pipeline, respectively. WhiteWater's equity interest in the Matterhorn Express Pipeline will be jointly backed by FIC and I Squared, and WhiteWater will continue to
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
FINDLAY, Ohio, April 29, 2025 /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 first quarter of 2025, or $3.826 on an annualized basis. The distribution will be paid on May 16, 2025, to common unitholders of record as of May 9, 2025. 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 Partner
AUSTIN, Texas, April 3, 2025 /PRNewswire/ -- WhiteWater today announced that WhiteWater, MPLX LP (NYSE:MPLX), and Enbridge Inc. (NYSE:ENB), through the WPC joint venture ("WPC"), have partnered with an affiliate of Targa Resources Corp. (NYSE:TRGP) and have reached final investment decision to move forward with the construction of the Traverse Pipeline, having secured sufficient firm transportation agreements with investment grade shippers. The bi-directional Traverse Pipeline is designed to transport up to 1.75 billion cubic feet per day (Bcf/d) of natural gas through approxi
FINDLAY, Ohio, March 17, 2025 /PRNewswire/ -- MPLX LP (NYSE:MPLX) today announced that the company's 2024 investor tax packages are now available on its website, www.mplx.com. Investors may select the "Investor Data" link under the Investors tab, or use the following link: https://www.taxpackagesupport.com/mplx Additionally, MPLX plans to mail tax packages beginning March 21, 2025. Questions regarding the Tax Reporting Package for the year ended Dec. 31, 2024, can be addressed by calling 1-800-232-0011 (toll free). 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 distribu
FINDLAY, Ohio, March 10, 2025 /PRNewswire/ -- MPLX LP (NYSE:MPLX) will host a conference call on Tuesday, May 6, 2025, at 9:30 a.m. EDT to discuss 2025 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 provides
FINDLAY, Ohio, March 3, 2025 /PRNewswire/ -- MPLX LP (NYSE:MPLX) announced today that it has priced $2.0 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of $1.0 billion aggregate principal amount of 5.400% senior notes due 2035 and $1.0 billion aggregate principal amount of 5.950% senior notes due 2055. MPLX intends to use the net proceeds from this offering to (i) repay, redeem or otherwise retire some or all of MPLX's outstanding $1,189 million aggregate principal amount of 4.875% senior notes due June 2025, (ii) repay, redeem or otherwise retire some or all of MarkWest's outstanding $11 million aggregate principal amount of 4.
FINDLAY, Ohio, Feb. 28, 2025 /PRNewswire/ -- MPLX LP (NYSE: MPLX) today announced it has signed a definitive agreement with affiliates of WhiteWater and Diamondback Energy to acquire the remaining 55% interest in BANGL, LLC for $715 million. Additionally, upon achievement of specific financial performance metrics, MPLX would make earnout payments up to a specified cap. The transaction is immediately accretive and is expected to generate mid-teen returns for the partnership. "With full ownership of BANGL and its expansion opportunities, our growth platform is further improved for the long term as we connect growing NGL production from the Permian basin to our recently announced Gulf Coast fr