MLP Distribution Safety: MPLX's 45% Margin vs ET's 2.7x Interest Coverage Crisis
Which MLP offers the safest distribution for income investors? MPLX generates 20.4% ROIC with 45% operating margins. Energy Transfer's 2.74x interest coverage is declining 0.65 points per quarter. EPD's 27-year streak masks deteriorating capital efficiency. The data tells a clear story.