MPLX LP (MPLX) Stock

Hundreds of companies pay dividends. Many currently offer higher yields, making them attractive for those seeking passive income.

In a market filled with uncertainty and high valuations, finding reliable dividend stocks is key to securing steady income and long-term growth. Despite the elevated valuations, there are still high-yield dividend opportunities that can provide stability, even in turbulent times. These three picks offer not just strong yields but also the safety and consistency I'm confident will stand up to any market challenges.

MPLX LP and Western Midstream are top MLPs in the Alerian MLP ETF, accounting for over 25% of AMLP's assets under management. Both MPLX and WES offer the highest distribution yields in the MLP sector, with MPLX at 8.14% and WES at 9.16%. I am bullish on both due to their high yields, strong balance sheets, and low valuations, making them ideal for income-seeking portfolios.

MPLX Q3 earnings and revenues rise year over year on increased gathered and processed volumes and higher contributions from its Logistics and Storage segment.

MPLX continues to add new expansion projects to its backlog.

FINDLAY, Ohio , Nov. 5, 2024 /PRNewswire/ -- Third -quarter net income attributable to MPLX of $1.0 billion and net cash provided by operating activities of $1.4 billion $1.7 billion of adjusted EBITDA attributable to MPLX and $1.4 billion of distributable cash flow $949 million of capital returned to unitholders Increased quarterly distribution by 12.5% to $3.83 per unit annualized Executing growth strategy in the Northeast with additional processing plant; expected to bring total processing and fractionation capacity to 8.1 bcf/d and 800 mbpd, respectively, in the second half of 2026 MPLX LP (NYSE: MPLX) today reported third-quarter 2024 net income attributable to MPLX of $1,037 million, compared with $918 million for the third quarter of 2023. For the first nine months of the year, net income attributable to MPLX was $3,218 million, compared with $2,794 million in the first nine months of 2023.

The latest trading day saw MPLX LP (MPLX) settling at $44.37, representing a -0.83% change from its previous close.

In the most recent trading session, MPLX LP (MPLX) closed at $43.77, indicating a -0.36% shift from the previous trading day.

I am bullish on MPLX stock due to its strong financial performance, pipeline expansions, and the favorable macroeconomic environment supporting increased energy demand. MPLX's efficient operations and high profit margins position it well to benefit from ongoing U.S. oil production and economic growth. Risks include potential political shifts towards renewable energy and economic downturns, but MPLX's current growth trajectory remains strong.