John Mackay

Manav Gupta

Michael Blum

Jeremy Tonet

Keith Stanley

Theresa Chen

Neal Dingmann

Berg Sansavero

Indraneel Mitra

Neel Mitra

- MPLX LP announced a **12.5% increase** in its quarterly distribution to **$1.0765 per common unit**, or **$4.31 annually**, payable on **November 14, 2025**.  **[1552000_b061b26f027747d29b99de215a5be2d7]** 
- The company reported strong profitability with **$11.29 billion in revenue**, a **40.75% operating margin**, and a **38.17% net margin**.  **[1552000_b061b26f027747d29b99de215a5be2d7]** 
- Despite strong profitability, MPLX faces financial stress indicators including a **high dividend payout ratio of 0.88**, a **debt-to-equity ratio of 1.57**, and an **Altman Z-Score of 2.06**.  **[1552000_b061b26f027747d29b99de215a5be2d7]** 
- MPLX's stock valuation is near historical highs with a **P/E ratio of 12.02**.  **[1552000_b061b26f027747d29b99de215a5be2d7]**

MPLX Increases Quarterly Distribution

- MPLX LP has declared a quarterly cash distribution of **$1.0765 per common unit** for the **third quarter of 2025**.  **[1552000_20251028CL08861:0]** 
- This represents a **12.5% increase**, or **$0.12 per common unit**, over the second quarter 2025 distribution, amounting to **$4.31 on an annualized basis**.  **[1552000_20251028CL08861:0]** 
- The distribution will be paid on **November 14, 2025**, to common unitholders of record as of **November 7, 2025**.  **[1552000_20251028CL08861:0]** 
- For non-U.S. investors, **100%** of the Partnership's distributions are considered attributable to income effectively connected with a U.S. trade or business and are subject to federal income tax withholding at the highest applicable effective tax rate.  **[1552000_20251028CL08861:0]**

MPLX LP Increases Quarterly Distribution

- MPLX LP completed the **$2.375 billion** acquisition of Northwind Delaware Holdings LLC (Northwind Midstream) on **September 2, 2025**, enhancing its Permian natural gas and NGL value chains.  **[1552000_20250902CL62894:0]** 
- The acquisition was financed by net proceeds from MPLX's **$4.5 billion senior notes issued in August 2025**.  **[1552000_20250902CL62894:0]** 
- It is expected to be immediately accretive to distributable cash flow, representing a **7x multiple on forecast 2027 EBITDA** and an estimated **mid-teen unlevered return**, inclusive of **$500 million** in incremental capital for expansion projects.  **[1552000_20250902CL62894:0]** 
- Northwind Midstream's assets include sour gas gathering, treating, and processing services in Lea County, New Mexico, with treating capacity expanding from **150 MMcf/d** to **440 MMcf/d** by the **second half of 2026**.  **[1552000_20250902CL62894:0]**

MPLX Completes Northwind Midstream Acquisition

- The **Eiger Express Pipeline**, a **450-mile**, **42-inch** diameter natural gas pipeline, has received final investment approval and will proceed to construction, aiming to transport up to **2.5 billion cubic feet per day** from the Permian Basin to the Katy area near Houston.  **[1552000_bdced05b233b42d3ae5d7007ff054970]** 
- The project is a joint venture led by WhiteWater Midstream, with **MPLX LP** and ONEOK, Inc. each holding **15% direct ownership** in addition to their stakes through the Matterhorn joint venture, resulting in MPLX's total ownership of **22%**.  **[1552000_bdced05b233b42d3ae5d7007ff054970]** 
- The pipeline has secured firm transportation agreements with contract terms of **10 years or longer** from primarily investment-grade shippers and is expected to begin operations by **mid-2028**.  **[1552000_bdced05b233b42d3ae5d7007ff054970]**

MPLX (MPLX)