spoohLast April, I placed a “Buy” rating on MPLX (NYSE:MPLX) saying it was deserving of a position in the portfolios of income-oriented investors. The stock has generated a return of about 25% since then, slightly outpacing the S&P 500. More recently in August I wrote I expected the company to meaningfully increase its distribution, which it did. With the company reporting its Q4 results at the end of January, let's catch up on the name. Company Profile As a quick reminder, MPLX is a midstream company t ...

spooh MPLX LP (NYSE:MPLX) is an attractive income and yield play for dividend investors in 2024. The midstream firm achieved record business results in FY 2023, strong distributable cash flow and managed to deliver an impressive distribution coverage ratio of 1.6X. I believe that MPLX can continue on its record run in FY 2024 and although the midstream firm does not have the size of a midstream firm like Enterprise Products Partners (EPD), MPLX is great value, in my opinion: MPLX delivered strong EBITDA gro ...

财务表现 - MPLX LP第四季度每单位盈利为1.10美元，超过了Zacks Consensus估计的95美分[1] - 总季度收入为297亿美元，超过了Zacks Consensus估计的294亿美元[2] - MPLX的调整后EBITDA从物流和储存部门增至10.9亿美元，较去年同期的9.79亿美元增长[4] - 聚气和加工部门的调整后EBITDA达到5.34亿美元，高于去年同期的4.75亿美元[5] - 聚气吞吐量平均为每天63亿立方英尺，较去年同期略有提高[6] 资本支出 - 2024年，MPLX的资本支出预算为11亿美元，其中包括9.5亿美元的增长资本和1.5亿美元的维护资本[11]

MPLX (MPLX 1.21%) recently closed the books on 2023. It was another very strong year for the master limited partnership (MLP). The energy midstream company grew its earnings and cash flow at a high-single-digit rate. That's a surprisingly fast pace for a company with such a high yield (recently around 8.9%). Its strong growth gave it the fuel to increase its payout by 10% for the second straight year. That big-time payout is on a very firm foundation. Meanwhile, the MLP has plenty of fuel to continue increa ...

财务数据和关键指标变化 - 2023年全年调整后EBITDA为63亿美元,较上年增长近9% [13] - 2023年全年可分配现金流为53亿美元,较上年增长超过7% [13] - 2023年全年调整后自由现金流为41亿美元 [13] 各条业务线数据和关键指标变化 - 物流与储存(L&S)业务第四季度调整后EBITDA为10亿美元,较上年同期增加1.1亿美元,主要由于管输和吞吐量增加 [32] - 采集与加工(G&P)业务第四季度调整后EBITDA增加5900万美元,主要由于采集和加工量增加 [33] - 马尔科斯盆地采集量同比增加10%,加工量同比增加9%,加工利用率达96% [34] - 尤蒂卡盆地加工量同比增加10% [34] 各个市场数据和关键指标变化 - 管输量同比增加4%,主要由于上年同期有炼厂检修 [32] - 产品管线量和码头吞吐量持平 [32] - 马尔科斯盆地采集量和加工量均有增长,反映了该地区生产活动的增加 [34] - 尤蒂卡盆地加工量增加,反映了新生产商进入该地区 [98] 公司战略和发展方向及行业竞争 - 公司将继续专注于严格的资本纪律、培养低成本文化、优化资产组合,这些是MPLX现金流增长的基础 [19] - 2024年资本支出计划为11亿美元,其中9.5亿美元为增长资本支出,1.5亿美元为维护资本支出 [20] - 增长资本支出主要集中在马尔科斯和佩米安盆地,公司将通过有机项目、参股合资企业投资和适度并购来拓展天然气和天然气液体资产 [21][26] - 公司将评估低碳机会,利用与资产组合相补的技术来创造竞争优势 [26] 管理层对经营环境和未来前景的评论 - 美国仍是全球低成本能源生产国,公司对主要盆地的长期产量预期保持不变,预计强劲的碳氢化合物需求将支持公司资产组合的增长 [16] - 马尔科斯盆地开发成本位于成本曲线的低端,低于当前商品价格,预计生产商钻井活动将支持该地区持续产量增长 [16][17] - 佩米安盆地相关天然气产量持续增长,公司通过收购合资企业权益来增加该地区现金流 [18] 问答环节重要的提问和回答 问题1 **John Mackay 提问** 询问第四季度是否有一次性因素 [48] **Kris Hagedorn 回答** 第四季度没有重大的一次性因素,调整后EBITDA中包含的保险赔付款已经调整出去 [49] 问题2 **John Mackay 提问** 询问2024年资本支出指引较前两年有所增加的原因 [50] **Mike Hennigan 回答** 主要是由于马尔科斯和佩米安盆地新增天然气加工厂建设,这些项目是公司不断增长现金流的一部分 [51][52] 问题3 **Brian Reynolds 提问** 询问2024年收益增长的主要驱动因素 [54] **Mike Hennigan 回答** 公司采取多年期视角,通过严格的资本纪律、优化资产组合等方式持续提升现金流,过去4年复合年增长率达7% [55][57][58]

MPLX LP (MPLX) reported $2.97 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 11.4%. EPS of $1.10 for the same period compares to $0.78 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.94 billion, representing a surprise of +0.93%. The company delivered an EPS surprise of +15.79%, with the consensus EPS estimate being $0.95.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...

财务数据 - MPLX LP在2023年第四季度实现了1,144万美元的净收入，较2022年同期的824万美元有所增长[1] - MPLX LP在2023年第四季度实现了1,089万美元的调整后EBITDA，比2022年同期的979万美元增长[1] - MPLX在2023年全年实现了53.97亿美元的经营活动现金净额，53.4亿美元的可分配现金流量，以及41.35亿美元的调整后自由现金流，较2022年分别增长[5] 资产状况 - MPLX的现金及现金等价物为1048百万美元，总资产为36529百万美元，总债务为待定[37][38] 运营数据 - MPLX的天然气加工量、C2+NGLs分馏量等运营数据均有所增长[40][42][45] 风险因素 - MPLX的实际结果可能受政治或监管发展、经济、市场、行业或商业条件的波动、资本资源和流动性的充足性、商品价格和需求变化、计划和进行中项目和投资的建设成本和投入日期变化等因素影响[29][30]

MPLX LP公司概况 - MPLX LP董事会宣布2023年第四季度每股普通单位现金分配为0.85美元，年化为3.40美元[1] - MPLX LP是一家多元化的大型主要有限合伙企业，拥有和经营中游能源基础设施和物流资产，提供燃料分销服务[2] - MPLX LP的资产包括原油和精炼产品管道网络、内陆水运业务、轻质产品终端、储存洞穴、炼油罐、码头、装载架和相关管道，以及原油和轻质产品海上终端[2]

SOPA Images/LightRocket via Getty ImagesMPLX (NYSE:MPLX) is one of the few midstream operators with the unique known buyer of throughput with parent Marathon Petroleum Corp. (MPC) purchasing 82% of crude throughput and 95% of refined products transported from well to refinery. With strong production in the Permian Basin and stable maintenance production in the Appalachia region, MPLX has remained in a strong position for both stability and growth for both in-basin midstream services and transportation. ...

Vivek Vishwakarma Trying to beat the market all the time is a hard feat to accomplish and is something that I'm simply not interested in doing. For one thing, that would involve having to constantly trade in an out of stocks in an effort to capture value. Plus, there are also short- and long-term tax implications from harvesting gains that can eat into long-term returns. A better strategy may be to buy quality dividend payers and hold them tight for the income stream, which can produce respectable total ...