MPLX: 7%+ Yield Is Just The Appetizer, The Growth Is The Main Course
MPLX LP remains a compelling buy, offering a robust 7%+ yield backed by resilient, fee-based midstream infrastructure operations. Recent organic CapEx projects like the BANGL Pipeline and Secretariat I Gas Processing Plant are ramping up, driving incremental EBITDA and supporting future growth. MPLX targets two consecutive years of 12.5% distribution hikes (2026–2027), aiming for ~26% total increase while maintaining a healthy 1.3x coverage ratio.