MPLX LP Stock News

Midstream company MPLX said on Friday it would buy the remaining 55% interest in the BANGL natural gas pipeline from affiliates of WhiteWater and Diamondback Energy for $715 million.

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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.

FINDLAY, Ohio , Feb. 27, 2025 /PRNewswire/ -- MPLX LP (NYSE: MPLX) today filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the year ended Dec. 31, 2024. The filing can be viewed through a link on MPLX's website at http://www.mplx.com by selecting the "SEC Filings" link under the "Investors" tab.

Since Income Investor last covered MPLX stock on Oct. 16, shares have risen another 23%. These returns are on top of its attractive dividend.

The company recently delivered another stellar quarter, with the adjusted EBITDA and distributable cash flow demonstrating robust growth. From the broader perspective, MPLX is a well-rounded business with multiple fundamental strengths supported by favorable industry trends. The stock offers a generous 7%+ distribution yield, and my DDM valuation analysis suggests that there is massive upside p...

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