Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>MPLX reported first quarter 2026 adjusted EBITDA exceeding $1.7 billion, enabling returns of over $1.1 billion to unitholders.</li><li>The company emphasized that 2026 is focused on executing multiple investments transitioning from construction to operational phases, with several large projects coming online this year.</li><li>These include the Secretariat I gas processing plant (now operational), the Harmon Creek III facility expected in the third quarter, and the expansion of the Titan gas treating complex aiming to reach over 400 million cubic feet per day of capacity by the fourth quarter.</li></ul>

MPLX reported first quarter 2026 adjusted EBITDA exceeding $1.7 billion, enabling returns of over $1.1 billion to unitholders.The company emphasized that 2026 is focused on executing multiple investments transitioning from construction to operational phases, with several large projects coming online this year.These include the Secretariat I gas processing plant (now operational), the Harmon Creek III facility expected in the third quarter, and the expansion of the Titan gas treating complex aiming to reach over 400 million cubic feet per day of capacity by the fourth quarter.

Why MPLX Project Timing Matters More Than First Quarter Noise!

<ul><li>MPLX reported adjusted EBITDA of approximately $7 billion for 2025, marking its fourth consecutive year of mid-single-digit three-year adjusted EBITDA growth CAGR.</li><li>The company increased its distribution by 12.5% in 2025, resulting in total returns of $4.4 billion to unitholders.</li><li>Capital deployment for 2025 amounted to $5.5 billion, focusing primarily on the natural gas and natural gas liquids (NGL) value chains in the Permian and Marcellus basins, representing strategic growth regions.</li></ul>

MPLX reported adjusted EBITDA of approximately $7 billion for 2025, marking its fourth consecutive year of mid-single-digit three-year adjusted EBITDA growth CAGR.The company increased its distribution by 12.5% in 2025, resulting in total returns of $4.4 billion to unitholders.Capital deployment for 2025 amounted to $5.5 billion, focusing primarily on the natural gas and natural gas liquids (NGL) value chains in the Permian and Marcellus basins, representing strategic growth regions.

MPLX: From Wellhead to Water—The Integrated Strategy Unlocking Gas & NGL Expansion!

<ul><li>MPLX LP, a master limited partnership primarily involved in midstream energy infrastructure, reported its third-quarter 2025 earnings with a balanced set of positive and challenging outcomes.</li><li>The company posted an adjusted EBITDA of $1.8 billion for the quarter and year-to-date adjusted EBITDA of $5.2 billion, marking a 4% increase over the previous year.</li><li>Distributable cash flow stood at $1.5 billion, supporting returning $1.1 billion to unitholders.</li></ul>

MPLX LP, a master limited partnership primarily involved in midstream energy infrastructure, reported its third-quarter 2025 earnings with a balanced set of positive and challenging outcomes.The company posted an adjusted EBITDA of $1.8 billion for the quarter and year-to-date adjusted EBITDA of $5.2 billion, marking a 4% increase over the previous year.Distributable cash flow stood at $1.5 billion, supporting returning $1.1 billion to unitholders.

MPLX’s Cash Machine: How Long Can Its Explosive EBITDA & Distribution Growth Continue?

<ul><li>MPLX LP, a leading master limited partnership, reported its second quarter 2025 financial results, showcasing a mix of strategic developments and financial performance.</li><li>The company has been actively expanding its strategic assets, particularly in the prolific Delaware Basin, with the acquisition of Northwind Midstream for approximately $2.4 billion.</li><li>Northwind's assets include sour gas gathering infrastructure in New Mexico, a strategic move that adds over 200,000 dedicated acres and enhances MPLX's capacity and reach in the region.</li></ul>

MPLX LP, a leading master limited partnership, reported its second quarter 2025 financial results, showcasing a mix of strategic developments and financial performance.The company has been actively expanding its strategic assets, particularly in the prolific Delaware Basin, with the acquisition of Northwind Midstream for approximately $2.4 billion.Northwind's assets include sour gas gathering infrastructure in New Mexico, a strategic move that adds over 200,000 dedicated acres and enhances MPLX's capacity and reach in the region.

MPLX Expands Powerfully With $1.7 Billion Bet on Natural Gas & NGL Growth; What Lies Ahead?

<ul><li>The energy midstream sector is buzzing as MPLX LP (NYSE:MPLX) inches closer to finalizing a $2.375 billion cash deal for Northwind Midstream, a natural gas gathering, treating, and processing developer with over 200,000 dedicated acres in New Mexico’s Delaware Basin.</li><li>Coming on the heels of MPLX’s strategic bolt-ons in the BANGL NGL pipeline, Whiptail crude gathering, and Matterhorn Express expansion, this acquisition could bolt high-quality, low-breakeven Permian volumes directly into MPLX’s burgeoning NGL, natural gas, and crude value chains.</li><li>The Northwind system already boasts more than 200 miles of gathering lines, two acid gas injection wells at 20 MMcf/d (soon to grow to 37 MMcf/d), and 150 MMcf/d of sour-gas treat-ing capacity—set to balloon to 440 MMcf/d by H2 2026.</li></ul>

The energy midstream sector is buzzing as MPLX LP (NYSE:MPLX) inches closer to finalizing a $2.375 billion cash deal for Northwind Midstream, a natural gas gathering, treating, and processing developer with over 200,000 dedicated acres in New Mexico’s Delaware Basin.Coming on the heels of MPLX’s strategic bolt-ons in the BANGL NGL pipeline, Whiptail crude gathering, and Matterhorn Express expansion, this acquisition could bolt high-quality, low-breakeven Permian volumes directly into MPLX’s burgeoning NGL, natural gas, and crude value chains.The Northwind system already boasts more than 200 miles of gathering lines, two acid gas injection wells at 20 MMcf/d (soon to grow to 37 MMcf/d), and 150 MMcf/d of sour-gas treat-ing capacity—set to balloon to 440 MMcf/d by H2 2026.

MPLX’s $2.4 Billion Power Play Set To Shake Up The Permian Basin!

United States

MPLX LP acquires, owns, operates and develops crude oil, refined products and other hydrocarbon-based product pipelines and other midstream assets. The Company's assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

MPLX LP (MPLX US)

Why MPLX Project Timing Matters More Than First Quarter Noise!

MPLX reported first quarter 2026 adjusted EBITDA exceeding $1.7 billion, enabling returns of over $1.1 billion to unitholders. The company...

Baptista Research

MPLX: From Wellhead to Water—The Integrated Strategy Unlocking Gas & NGL Expansion!

MPLX reported adjusted EBITDA of approximately $7 billion for 2025, marking its fourth consecutive year of mid-single-digit three-year adjusted...

Baptista Research

MPLX’s Cash Machine: How Long Can Its Explosive EBITDA & Distribution Growth Continue?

MPLX LP, a master limited partnership primarily involved in midstream energy infrastructure, reported its third-quarter 2025 earnings with a...

Baptista Research

MPLX Expands Powerfully With $1.7 Billion Bet on Natural Gas & NGL Growth; What Lies Ahead?

MPLX LP, a leading master limited partnership, reported its second quarter 2025 financial results, showcasing a mix of strategic developments and...

Baptista Research

MPLX’s $2.4 Billion Power Play Set To Shake Up The Permian Basin!

The energy midstream sector is buzzing as MPLX LP (NYSE:MPLX) inches closer to finalizing a $2.375 billion cash deal for Northwind Midstream, a...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)