MPLX LPNYSE: MPLX

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.

In the latest trading session, MPLX LP (MPLX) closed at $43.97, marking a -0.83% move from the previous day.

MPLX LP units are rated a hold due to fair valuation despite strong technicals and a high 7.7% distribution yield. MPLX has shown robust financial performance with consecutive earnings beats, solid EBITDA growth, and disciplined management. Key risks include higher interest rates, Appalachian production uncertainty, and broader economic and Energy sector weaknesses.

Investors with an interest in Oil and Gas - Production and Pipelines stocks have likely encountered both MPLX LP (MPLX) and Williams Companies, Inc. (The) (WMB). But which of these two stocks is more attractive to value investors?

The latest trading day saw MPLX LP (MPLX) settling at $44.09, representing a -0.52% change from its previous close.

MPLX has the potential to outperform the industry once the stock market begins to acknowledge its true value.