Beating The Market, 21 Straight Hikes, Record Earnings, 7% Yield, Analyst Upgrades, 10% Distribution Growth In 2018

21 straight quarterly hikes, with very strong 1.27X coverage. Management is calling for 10% distribution growth in 2018. Record earnings in Q1 '18, with multiple growth projects coming online in Q2-Q4 2018. Received multiple analyst upgrades and upward earnings estimate revisions in the past two months. No more IDR payouts, which frees up cash flow - GP swapped IDRs for common in a huge Q1 '18 deal.

Have you ever had to make excuses for somebody? This can be the case when one of your favorite stocks has a bum quarter. It reminds us of a music teaching job we had in another lifetime, when we had to write comments on quarterly report cards. Fortunately, such is not the case with MPLX LP (MPLX), a rapidly growing midstream company, which we've owned and covered for quite some time. Take a gander at these growth numbers - they're music to our ears. You'd think that this was a biotech or a tech startup. Of particular interest is the most recent quarter, Q1 '18, in which EBITDA rose 80% and DCF grew 78%:

Source: Seeking Alpha

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