|Bid||19.35 x 900|
|Ask||19.55 x 900|
|Day's Range||19.20 - 19.81|
|52 Week Range||6.87 - 30.53|
|Beta (5Y Monthly)||1.99|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 29, 2020 - Nov 02, 2020|
|Forward Dividend & Yield||2.75 (14.23%)|
|Ex-Dividend Date||Aug 06, 2020|
|1y Target Est||23.57|
MPLX LP (MPLX) has announced that it has priced $3 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of $1.5 billion aggregate principal amount of 1.75% senior notes due in 2026 and $1.5 billion aggregate principal amount of 2.65% senior notes due in 2030.The 2026 senior notes and 2030 senior notes were offered at a price to the public of 99.785% of par and 99.913% of par, respectively.MPLX intends to use the net proceeds from the offering to repay debts, including (i) the $1 billion term loan borrowing maturing in 2021, (ii) the $1 billion aggregate principal amount of its floating rate senior notes due 2021, (iii) the $300 million aggregate principal amount of its 6.250% senior notes due 2022 and (iv) the $450 million aggregate principal amount of its 6.375% senior notes due 2024.Any remaining net proceeds will be used for general partnership purposes, the company adds.The closing of the senior notes offering is expected to occur on Aug. 18, 2020, subject to satisfaction of customary closing conditions.Shares in MPLX are down 24% year-to-date, and the stock scores a cautiously optimistic Moderate Buy Street consensus. That’s with an average analyst price target of $23 (19% upside potential).“We rate MPLX Outperform based on diversified footprint tied to a large strategic sponsor, attractive current yield, and path to free cash flow” comments RBC Capital analyst TJ Schultz. According to Schultz, MPLX remains on track to deliver positive FCF in 2021 after current distributions.He has just reiterated his buy rating on the stock with a $25 price target (29% upside potential), writing “We believe MPLX’s current discount to peers should narrow as visibility on demand impact to MPC’s refinery operations ease.” (See MPLX stock analysis on TipRanks).Related News: Plug Power Plunges 7% After-Hours On $300M Public Offering Tesla Rises 6% In After-Hours On 5-for-1 Stock Split Lemonade Drops 5% On First Earnings Report As Guidance Falls Short More recent articles from Smarter Analyst: * Qualcomm Wins US Antitrust Ruling; Top Analyst Says Decision Lifts Stock Overhang * Stifel Lifts Lumentum’s PT After 4Q Earnings Beat Estimates * Zoom Video Drops 8% After Salesforce Sells Off Stake * J2 Global Surges 15% On Earnings Beat; RBC Upgrades To ‘Buy’
Contributions from gathering and processing business aid MPLX's Q2 earnings.
MPLX LP (NYSE: MPLX) announced today that it has priced $3,000,000,000 in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of $1,500,000,000 aggregate principal amount of 1.75% senior notes due in 2026 (the "2026 senior notes") and $1,500,000,000 aggregate principal amount of 2.65% senior notes due in 2030 (the "2030 senior notes").