MPLX LP (MPLX) Update - Jan 29

[dan_s]

MPLX holding dividend steady
FINDLAY, Ohio, Jan. 28, 2021 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $0.6875 per common unit for the fourth quarter of 2020, or $2.75 on an annualized basis. The distribution will be paid on Feb. 12, 2021, to common unitholders of record as of Feb. 8, 2021.

MPLX is trading today at $23.22 for annual yield of 11.8% tax deferred because it is an MLP.

TipRanks: In the last 3 months, 8 ranked analysts set 12-month price targets for MPLX that range from $25 to $29. The average price target among the analysts is $26.71. My current valuation (prior to Q4 actual results and 2021 guidance) is $27.50.
> Despite the pandemic, MPLX continues to generate over $4.1 Billion of operating cash flow per year, down only $0.068 Billion YOY
> DCF covers the current quarterly distribution and should go up in 2021 and 2022

Prior to the pandemic, MPLX's stated goal was to increase cash distributions by 10% per year.