MPLX LP shares rise 1.28% after-hours after announcing a $1 billion equity buyback program.

MPLX LP rose 1.28% in after-hours trading, driven by the company's announcement of a share repurchase program worth up to $1,000 million, which has no expiration date. Additionally, MPLX LP reported a second-quarter net income of $1.048 billion and a distributable cash flow of $1.4 billion, enabling the return of $1.1 billion of capital. The company also announced the acquisition of Northwind Midstream for $2.375 billion, enhancing its Permian Natural Gas and NGL value chain and accelerating future growth opportunities.