|Bid||34.86 x 800|
|Ask||34.90 x 800|
|Day's Range||34.45 - 35.06|
|52 Week Range||30.88 - 39.38|
|PE Ratio (TTM)||21.55|
|Earnings Date||Jul 25, 2018 - Jul 30, 2018|
|Forward Dividend & Yield||2.47 (7.17%)|
|1y Target Est||41.71|
MPLX (MPLX) expects to spend $2.2 billion on growth projects in 2018. It expects to complete 11 plants by the end of 2018, adding ~1.5 Bcf/d (billion cubic feet per day) of processing capacity and ~100 Mbpd (thousand barrels per day) of fractionation capacity. It intends to fund these projects with retained cash and debt. It doesn’t expect to issue equity to fund its capital projects in 2018. It also intends to maintain a coverage ratio of 1.2x or higher.
MPLX’s (MPLX) Logistics and Storage segment contributed 55% of its operating income in the first quarter of 2018. Interestingly, the segment contributed just 36% of the company’s operating income in the fourth quarter of 2017. MPLX acquired refining logistics assets and fuel distribution services from parent Marathon Petroleum (MPC) in February 2018. These assets contributed to the segment’s earnings growth in the first quarter.
Since MPLX’s (MPLX) IPO in 2012, it has increased distributions for 21 consecutive quarters. Its distributions grew at a CAGR (compound annual growth rate) of 17.7% over that period. Its distributions grew 12% in 2017. It expects distribution growth of 10% for 2018. MPLX’s coverage ratio is a healthy 1.29x. It remained well above 1.0x over the last two years.
MPLX (MPLX) stock has risen just 1% so far in 2018. In comparison, Enterprise Products Partners (EPD) has risen 8%, Kinder Morgan (KMI) has fallen 11%, and Williams Companies (WMB) has fallen 16% year-to-date. The Energy Select Sector SPDR ETF (XLE) has risen 3%, and the Alerian MLP ETF (AMLP) has fallen 5%.
DALLAS , June 8, 2018 /PRNewswire/ --Swank Capital, LLC and Cushing ® Asset Management, LP, announce today an upcoming interim rebalancing of The Cushing ® Transportation Index (the "Index"). ...
DALLAS , June 8, 2018 /PRNewswire/ -- Swank Capital, LLC, and Cushing ® Asset Management, LP, announce today an upcoming interim rebalancing of The Cushing ® Energy Supply Chain Index (the "Index"). ...
DALLAS , June 8, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing ® Asset Management, LP, announce today an upcoming interim rebalancing of The Cushing ® Energy Index (the "Index"). Per the ...
DALLAS , June 8, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing ® Asset Management, LP, announce today an upcoming interim rebalancing of The Cushing ® Utility Index (the "Index"). Per the ...
With a rock-solid yield of nearly 7%, and ample growth prospects on the horizon, MPLX LP could deliver strong total returns in the coming years.
So far in this series, we’ve looked into the institutional activity in four major MLPs: Enterprise Products Partners (EPD), MPLX LP (MPLX), Energy Transfer Partners (ETP), and Energy Transfer Equity (ETE).
The number of institutional holders in Enterprise Products Partners (EPD) fell to 1,063 by the end of the first quarter compared to 1,069 in the previous quarter.
MLPs have been on a recovery path due to improvements in their financial positions, prudent capital spending, and—most importantly—recovery in earnings growth resulting from strong US production growth and strong crude oil prices.
According to a Reuters’ survey, 75.0% of the analysts rated Energy Transfer Partners (ETP) as a “buy” as of May 15, while the remaining 25.0% rated it as a “hold.” MPLX LP (MPLX), Enterprise Products Partners (EPD), and Williams Partners (WPZ) have “buy” ratings from 94.4%, 100.0%, and 80.9% of the analysts, respectively.
Of the analysts covering Kinder Morgan (KMI), 64% recommended “buy,” and 36% recommended “hold.” Their price target for Kinder Morgan is $21, implying a 28% upside to its current price of $16.45.
The number of Enterprise Products Partners (EPD) shares shorted fell ~37.5% from ~17.3 million on April 13 to ~10.8 million on April 30. According to data released on May 9, short interest in Enterprise Products Partners as a percentage of its float is ~0.8%. Enterprise Products’ short interest ratio is 2x, which shows that it would take nearly two days to cover all open short positions in EPD.
Master limited partnerships or MLPs saw continued strong earnings growth in 1Q18 after a solid fourth quarter of 2017. Of the top 15 limited partnerships by market capitalization, 14 reported YoY (year-over-year) growth in quarterly revenue and EBITDA (earnings before interest, tax, depreciation, and amortization). Seven of these limited partnerships reported QoQ (quarter-over-quarter) growth in revenue while nine reported QoQ growth in adjusted EBITDA. ...
According to recent filings, the top ten investors in Kinder Morgan (KMI) added net 20.3 million Kinder Morgan shares to their positions. According to a March 9 filing, Richard Kinder added 0.5 million KMI shares to his position. Kinder owns nearly 246 million KMI shares, which represent 11.1% of KMI’s total outstanding shares. BlackRock Institutional Trust disclosed an addition of 0.6 million KMI shares in a March 31 filing.
Kinder Morgan’s (KMI) net debt stood at $37.0 billion at the end of 1Q18, $331 million higher quarter-over-quarter. Of the $331 million increase, nearly $100 million was associated with increased debt at Kinder Morgan Canada (KML.TO). Notably, Kinder Morgan’s net debt has fallen ~$5.8 billion since the end of 1Q15.
All four companies we’re analyzing—Enterprise Products Partners (EPD), Kinder Morgan (KMI), Williams Partners (WPZ), and MPLX (MPLX)—raised their capital expenditure YoY (year-over-year) in 2017. Enterprise Products Partners’ capital spending rose 11% in 2017 while Williams Partners’ rose 24%.
All four midstream companies we’re analyzing in this series—Enterprise Products Partners (EPD), Kinder Morgan (KMI), Williams Partners (WPZ), and MPLX (MPLX)—are trading at attractive yields. Enterprise Products Partners and MPLX are trading at yields of 6.4% and 7.1%, respectively, while Williams Partners is trading at a yield of ~6.7%. Kinder Morgan’s recent 60% dividend increase has raised its yield to ~5.0%.
MPLX’s (MPLX) EBITDA (earnings before interest, tax, depreciation, and amortization) grew 80% YoY (year-over-year) in 1Q18, boosted by drop-down assets from parent Marathon Petroleum (MPC). MPLX’s EBITDA grew 41% YoY in fiscal 2017.
Enbridge Energy Partners, L.P. is one of the MLPs deeply impacted by a recent policy change.
Plains All American Pipeline (PAA) reported its 1Q18 results on May 8 after the market closed. Plains All American reported 16% YoY (year-over-year) growth in its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) for the quarter. The adjusted EBITDA excludes gains from derivative activities. Plains All American reported $285 million in gains from derivative activities in 1Q17.
Just when investors were going to get answers about its recent drop down from Marathon Petroleum, another acquisition has people wondering what the company's future will look like.