| It's been a while since I last looked at MPLX (NYSE: MPLX). At the time, the stock received a "B" for dividend safety. The company did not disappoint, as the dividend was not cut. In fact, it grew by 36% over the next three years. MPLX is a master limited partnership that processes and transports natural gas and oil. It was spun out from Marathon Petroleum in 2012. The stock pays a quarterly distribution of $0.9565, which comes out to a 7.8% yield. (MLPs pay distributions, not dividends.) It has boosted the distribution every year since it began paying one in 2013. Can it keep that impressive track record intact? MPLX and many other MLPs use a measure of cash flow called distributable cash flow, or DCF. Last year, MPLX's DCF totaled $5.7 billion. This year, it's expected to come in at $6 billion. In 2026, DCF is forecast to grow another 6% to $6.4 billion. |
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