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 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!

<ul><li>MPLX LP reported its financial results for the first quarter of 2025, demonstrating several key developments in its operations and strategic initiatives.</li><li>The company achieved an adjusted EBITDA of $1.8 billion, marking a 7% year-over-year increase, and generated a distributable cash flow of $1.5 billion.</li><li>MPLX returned approximately $1 billion to its unitholders through dividends and conducted $100 million in unit repurchases, reinforcing its commitment to returning capital.</li></ul>

MPLX LP reported its financial results for the first quarter of 2025, demonstrating several key developments in its operations and strategic initiatives.The company achieved an adjusted EBITDA of $1.8 billion, marking a 7% year-over-year increase, and generated a distributable cash flow of $1.5 billion.MPLX returned approximately $1 billion to its unitholders through dividends and conducted $100 million in unit repurchases, reinforcing its commitment to returning capital.

MPLX LP: An Insight Into Its Strategic Acquisitions & Expansion Initiatives!

<ul><li>MPLX, the midstream energy company, reported its fourth quarter and full-year 2024 results, highlighting strategic progress and robust financial performance.</li><li>In 2024, MPLX achieved a full-year adjusted EBITDA of $6.8 billion, marking an 8% rise compared to the previous year, underpinned by strong operational performance across its renamed business segments: Crude Oil and Product Logistics and Natural Gas and NGL Services.</li><li>This marks the fourth consecutive year of mid-single-digit adjusted EBITDA growth, with a compound annual growth rate of 7% since 2021.</li></ul>

MPLX, the midstream energy company, reported its fourth quarter and full-year 2024 results, highlighting strategic progress and robust financial performance.In 2024, MPLX achieved a full-year adjusted EBITDA of $6.8 billion, marking an 8% rise compared to the previous year, underpinned by strong operational performance across its renamed business segments: Crude Oil and Product Logistics and Natural Gas and NGL Services.This marks the fourth consecutive year of mid-single-digit adjusted EBITDA growth, with a compound annual growth rate of 7% since 2021.

MPLX LP: An Insight Into Its Natural Gas and NGL Value Chain Expansion & Critical Growth Levers!

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.

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MPLX LP (MPLX US)

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

MPLX LP: An Insight Into Its Strategic Acquisitions & Expansion Initiatives!

MPLX LP reported its financial results for the first quarter of 2025, demonstrating several key developments in its operations and strategic...

Baptista Research

MPLX LP: An Insight Into Its Natural Gas and NGL Value Chain Expansion & Critical Growth Levers!

MPLX, the midstream energy company, reported its fourth quarter and full-year 2024 results, highlighting strategic progress and robust financial...

Baptista Research

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