MPLX Q3 net income $1.5B, ups distribution 12.5%; adjusted EBITDA $1.77B

MPLX LP

Net income $1,545M (up 49% YoY); adjusted EBITDA $1,766M vs $1,714M.
Distribution raised 12.5% to $1.0765/unit ($4.31 annualized); coverage 1.3x.
Acquired Delaware sour gas treating for $2.4B; divesting Rockies assets for $1.0B.
Issued $4.5B senior notes; repurchased $100M units; leverage 3.7x.
Crude & Products segment adj EBITDA $1,137M (+$43M); NGL Services $629M (+$9M).

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