MPLX因高初始收益率（8.5%）、强劲的预期分配增长（12.5%）以及通过至2030年不断增长的可分配现金流每股所维持的可持续股息覆盖率而被低估。
逐段跳播
我们有MLX、SPGI，然后我们有万事达卡。MPLX表现非常好，上涨了24.5%。MLX是我投资组合中一个比较罕见的持仓，因为它是一只收益率非常高的股票。事实上，目前的指示收益率大约在7.3%左右，但当我将其加入投资组合时，它更接近8.5%。
事实上，如果我们跳到我的股息仪表板，偷偷看一下这个持仓的收益率成本，你可以看到它大约在8.53%。因此，近期股价的上涨导致初始收益率下降。但再说一次，当我买入时，它的收益率是8.5%。
we have MLX, SPGI, and then we have Mastercard. MPLX has done really, really well. It's up 24.5%. MLX is a somewhat rare addition to my portfolio because it's a very high yielding stock. In fact, the indicated yield as of right now sitting roughly 7.3%, but when I added it to my portfolio, it was closer to about 8.5%. In fact, if we just jump over to my dividend dashboard, go ahead and cheat and look at my yield on cost on this position, you can see it's sitting at about 8.53%. So, the recent run up in share price has caused the starting yield to go down. But again, when I added, it was yielding 8.5%.
我不仅以8.5%的收益率买入了MLX，管理层还一直指导未来几年约12.5%的分派增长。他们今年已经大幅提高了股息。公司没有过度杠杆化。它的杠杆率处于相当合理的区间。然后最重要的是，当我们看这些股票时，我们希望密切关注它们每股可分配现金流是多少，因为这在本质上告诉我们股息是否可持续。
每股可分配现金流是这些MLP、这些中游股票的核心指标。这就像看传统股票的自由现金流每股或每股收益。所以如果这个指标在增长，内在价值就在增长。如果它覆盖了股息，那么一般来说，该股息是可持续的。
所以你可以看到，2026年的股息应该会被很好地覆盖，并且预计到2030年都会持续如此。这就是MPLX的简要论点。你可以看到，任何时候你买入一只收益率为8.5%、分派以两位数增长、只要这些分派真正可持续的股票，在其他条件相同的情况下，它很可能是一只被低估的股票。而这正是MLX发生的情况。
And not only did I buy MLX with a 8.5% yield, management has been guiding towards around 12.5% distribution growth over the next few years. They've already hiked the dividend by a high amount this year. The company's not overleveraged. It's trading at a pretty reasonable leverage ratio range. And then most importantly, when we look at these stocks, we want to pay close attention to how much distributable cash flow per share they're generating because essentially that tells us whether or not the dividend is sustainable. Distributable cash per share is the northstar metric for these MLPS for these mid-stream stocks. It's like looking at free cash flow per share or earnings per share for a traditional stock. So if this is growing, the intrinsic value is growing. And if it's covering the dividend, then generally speaking, that dividend is sustainable. So you can see in 2026 the dividend should be very well covered and it's projected to continue to be that way through the year 2030. So that's the thesis for MPLX in short. And you can see anytime you buy a stock with a 8.5% yield that's growing distributions at double digits as long as those distributions are truly sustainable. All else being equal, it's probably an undervalued stock. And that's exactly what happened to MLX.
然后是MPLX，一笔近200美元的大额股息支付。
and then MPLX a big dividend payment almost $200
这个频道对 $MPLX 的历次判断
Dividendology 在这只股票上共 3 条判断，这里只列相邻的几条。