MPLX is the Top holding for the Alerian MLP energy exchange-traded fund. MPLX L.P. (NYSE:MPLX) is primarily engaged in crude oil and refined products transportation and terminaling in the US Midwest and Gulf Coast regions, as well as nat gas gathering and processing in the northeast from its prior acquisition of MarkWest Energy in Y 2015. MPLX was formed by independent US refiner Marathon Petroleum.
MPLX is 1 of the bigger pipeline entities, with a market capitalization of nearly $30-B, and the company repurchased a strong $155-M in units during Q-2 Y 2021. The partnership currently has approximately $657-M remaining under its board authorization and that kind of buying by management tends to keep a bid under the stock price.
Investors receive a 9.74% distribution. Raymond James has set a 33 price target on MPLX stock. The consensus target is at 32.88.
Our 1yr price target for MPLX is 47.share.
MPLX LP the master limited partnership sponsored by Marathon Petroleum Corp. (NYSE:MPC), will host a conference call on Tuesday, 2 November 2021, at 9:30a EDT to discuss 2021 Q-3 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 this earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.mplx.com.
Note: MLPs make good sense for growth and income investors looking to add positions in energy, but who want to be cautious in what has turned into a very volatile market. It should be noted that the distributions from MLPs may contain return of principal.