Overview

• MPLX Q3 net income rises to $1.5 bln from $1.0 bln last year

• Adjusted EBITDA for Q3 beats analyst expectations

• Company increases quarterly distribution by 12.5% for second consecutive year

Outlook

• MPLX is expanding Permian and Marcellus processing capacity to meet producer demand

• MPLX expects Eiger Express pipeline to be operational by mid-2028

• MPLX plans to divest Rockies assets for $1 bln, closing expected in Q4 2025

Result Drivers

• ACQUISITIONS AND DIVESTITURES - MPLX's acquisition of a Delaware basin sour gas treating business and divestiture of Rockies assets were part of its portfolio optimization strategy

• SEGMENT GROWTH - Crude Oil and Products Logistics and Natural Gas and NGL Services segments saw EBITDA increases due to higher rates and volumes

• INVESTMENTS IN GROWTH - MPLX is investing in Permian and Marcellus basins and progressing long-haul pipeline projects to support increased producer activity

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas transportation services peer group is "buy"

• Wall Street's median 12-month price target for MPLX LP is $56.50, about 10% above its November 3 closing price of $50.85

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nPn4bqdHSa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)