This 7.3%-Yielding Dividend Stock Is Making a $715 Million Acquisition to Add More Fuel to Its High-Octane Income Growth Engine
MPLX (NYSE: MPLX) is a high-octane income investment. The master limited partnership (MLP) pays a prodigious cash distribution that currently yields 7.3%. Even better, the company has grown its payout at a more than 10% compound annual rate since 2021 (and increased it every single year since coming public in 2012). The MLP already has enough fuel to continue growing its payout through 2029. However, that didn't stop it from recently topping off the tank by making a $715 million acquisition to further enhance its growth profile. MPLX has agreed to buy the remaining 55% interest in BANGL, which it doesn't already own, for $715 million. The BANGL pipeline system currently transports 250,000 barrels of natural gas liquids (NGLs) per day from the Permian Basin of Texas to markets along the Gulf Coast. MPLX is currently expanding the pipeline's capacity to 300,000 barrels per day, which it expects to complete in the second half of next year. Continue reading
MPLX (NYSE: MPLX) is a high-octane income investment. The master limited partnership (MLP) pays a prodigious cash distribution that currently yields 7.3%. Even better, the company has grown its payout at a more than 10% compound annual rate since 2021 (and increased it every single year since coming public in 2012).
The MLP already has enough fuel to continue growing its payout through 2029. However, that didn't stop it from recently topping off the tank by making a $715 million acquisition to further enhance its growth profile.
MPLX has agreed to buy the remaining 55% interest in BANGL, which it doesn't already own, for $715 million. The BANGL pipeline system currently transports 250,000 barrels of natural gas liquids (NGLs) per day from the Permian Basin of Texas to markets along the Gulf Coast. MPLX is currently expanding the pipeline's capacity to 300,000 barrels per day, which it expects to complete in the second half of next year.
