MPLX LP MPLX
- Market cap
- $58.8B
- P/E
- 12.2×
Follow MPLX
Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 16.34 | 30.88 | 28.32 | 22.60 | 6.87 | 21.66 | 27.47 | 32.25 | 36.58 | 44.60 |
Analyst estimates 2026–2028 Powerpack |
Low Price
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| 39.46 | 39.43 | 39.38 | 35.85 | 27.36 | 32.26 | 35.49 | 36.80 | 51.94 | 56.26 |
High Price
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| 2,800 | 4,300 | 4,500 | 6,200 | 5,700 | 5,836 | 5,811 | 5,810 | 5,560 | 5,762 |
Employees
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| 1 | 1 | 2 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
Revenue/Emp
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| 3,029 | 3,867 | 7,005 | 9,041 | 7,569 | 10,027 | 11,613 | 11,281 | 11,933 | 12,998 |
Revenue
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| 55.50% | 56.09% | 57.02% | 58.94% | 56.72% | 57.78% | 56.76% | 58.71% | 59.74% | 60.60% |
Gross Margin
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| 422 | 837 | 2,014 | 1,462 | (685) | 3,113 | 3,986 | 3,977 | 4,367 | 4,960 |
EBT
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| 13.93% | 21.64% | 28.75% | 16.17% | (9.05%) | 31.05% | 34.32% | 35.25% | 36.60% | 38.16% |
EBT Margin
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| 434 | 836 | 2,006 | 1,462 | (687) | 3,112 | 3,978 | 3,966 | 4,357 | 4,952 |
Net Income
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| 637 | 736 | 922 | 1,296 | 1,438 | 1,357 | 1,303 | 1,268 | 1,337 | 1,381 |
Depreciation
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| 9.15 | 10.04 | 9.21 | 9.98 | 7.20 | 9.76 | 11.50 | 11.27 | 11.75 | 12.76 |
Revenue/Sh
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| 0.00 | 1.07 | 2.29 | 1.00 | (0.80) | 2.86 | 3.75 | 3.80 | 4.21 | 4.82 |
Earnings/Sh
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| 4.50 | 4.95 | 4.04 | 4.51 | 4.30 | 4.78 | 4.97 | 5.39 | 5.85 | 5.80 |
Cash Flow/Sh
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| (3.96) | (3.65) | (2.76) | (2.62) | (1.07) | (0.39) | (0.71) | (0.91) | (1.04) | (0.82) |
Capex/Sh
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| 0.54 | 1.31 | 1.27 | 1.88 | 3.23 | 4.39 | 4.25 | 4.48 | 4.81 | 4.98 |
Free CF/Sh
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| 33.57 | 25.90 | 23.30 | 18.34 | 12.39 | 11.74 | 12.42 | 12.68 | 13.59 | 14.26 |
Book Value/Sh
|
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| 331 | 385 | 761 | 906 | 1,051 | 1,027 | 1,010 | 1,001 | 1,016 | 1,019 |
Shares
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| 0.00 | 34.00 | 13.17 | 21.22 | 0.00 | 10.35 | 8.69 | 9.62 | 11.37 | 11.07 |
PE Ratio
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| 3.85 | 3.59 | 3.29 | 2.55 | 3.01 | 3.03 | 2.83 | 3.25 | 4.07 | 4.18 |
PS Ratio
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| 1.05 | 1.39 | 1.30 | 1.44 | 1.83 | 2.66 | 2.76 | 2.89 | 3.52 | 3.74 |
PB Ratio
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| 5.23 | 5.38 | 5.84 | 4.73 | 5.67 | 4.88 | 4.52 | 4.97 | 5.70 | 5.99 |
EV/Sales
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| 88.49 | 41.38 | 42.26 | 25.10 | 12.63 | 10.86 | 12.21 | 12.50 | 13.91 | 15.35 |
EV/FCF
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| 1,491 | 1,907 | 3,071 | 4,082 | 4,521 | 4,911 | 5,019 | 5,397 | 5,946 | 5,909 |
Op' Cash Flow
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| (1,312) | (1,404) | (2,103) | (2,378) | (1,127) | (403) | (722) | (911) | (1,055) | (833) |
Capex
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| 179 | 503 | 968 | 1,704 | 3,394 | 4,508 | 4,297 | 4,486 | 4,891 | 5,076 |
FCF
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| 105 | (745) | (828) | (648) | (571) | (1,841) | (496) | 184 | 41 | 745 |
Working Cap'
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| 4,422 | 6,945 | 17,922 | 19,713 | 20,139 | 18,571 | 19,796 | 20,431 | 20,948 | 25,653 |
Total Debt
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| 4,188 | 6,940 | 17,845 | 19,698 | 20,124 | 18,558 | 19,558 | 19,383 | 19,429 | 23,516 |
Net Debt
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| 11,110 | 9,973 | 17,731 | 16,613 | 13,017 | 12,052 | 12,546 | 12,689 | 13,807 | 14,528 |
Sh' Equity
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| 0.01% | 2.22% | 5.93% | 2.34% | (2.19%) | 8.16% | 10.72% | 10.61% | 11.59% | 12.20% |
ROA
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| 2.79% | 4.40% | 4.79% | 4.09% | 0.40% | 8.15% | 9.56% | 9.55% | 9.94% | 9.76% |
ROIC
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| 0.01% | 3.90% | 12.58% | 5.54% | (5.93%) | 24.62% | 32.64% | 31.10% | 32.38% | 34.67% |
ROE
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MPLX LP peers in Oil & Gas Midstream
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| TRP TC Energy Corporation | $59.7B | 24.4× | Compare |
| OKE ONEOK, Inc. | $57.5B | 15.3× | Compare |
| TRGP Targa Resources, Inc. | $60.7B | 26.5× | Compare |
| LNG Cheniere Energy, Inc. | $56.8B | 19.9× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| KMI Kinder Morgan, Inc. | $69.5B | 19.7× | Compare |
| ET Energy Transfer LP | $70.2B | 13.7× | Compare |
| EPD Enterprise Products Partners L.P. | $80.5B | 12.8× | Compare |
| WMB Williams Companies, Inc. (The) | $86.1B | 27.5× | Compare |
MPLX LP (MPLX) key facts
- MPLX LP (MPLX) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
- MPLX LP’s revenue for fiscal 2025 (year ended December 2025) was $13.0 billion, up 8.92% from fiscal 2024.
- As of September 25, 2026, MPLX traded at $56.80, a market capitalization of $58.8 billion.
- Return on equity was 34.7% and debt-to-equity 1.80.
MPLX LP (MPLX) Latest News
24 Sep
MPLX LP closed at $57.98, down 1.41% for the session, underperforming the broad market as the S&P 500 slipped 0.03% while the Dow fell 0.31% and the Nasdaq edged up 0.01%. Earlier trading, shares were down 0.86%, lagging the Oils-Energy sector (-0.34%) and the S&P 500 (+0.53%). The company will report earnings on November 3, 2026, with consensus estimates of $1.13 per share (a 25.66% YoY decline) and revenue around $3.3 billion (down 8.71% YoY). For the year, analysts expect $4.26 per share on $13.22 billion in revenue (down 11.62% and up 1.71%, respectively). MPLX carries a Zacks Rank of #3 (Hold), with a forward P/E of 13.82 vs. industry 18.87 and a PEG of 5.59 (industry average 1.82). Zacks notes 0.53% lower EPS revisions in the last 30 days. Projected YoY earnings decline and lower revenue plus a Hold rating suggest only a moderate near-term impact.
20 Sep
MPLX LP entered a joint venture with a rival pipeline operator in a development that drew no public attention. Joint venture with rival pipeline firm may modestly expand MPLX network reach and competitive ties without major immediate shifts.
17 Sep
MPLX LP targets 12.5% annual distribution increases through 2027, with potential positive effects on stock performance due to higher yields. Long-term distribution growth commitment signals strong cash flows and could drive sustained investor interest in the stock.
8 Sep
Marathon Petroleum receives bull of the day designation with positive investment outlook. Bullish note on Marathon Petroleum may lift MPLX via shared operations and sentiment.
31 Aug
Popular energy ETF carries hidden costs prompting recommendation to own three dividend stocks including MPLX LP instead for better performance. Recommendation of MPLX as ETF alternative may increase share demand and support price performance.
27 Aug
MPLX LP joins Permian to Gulf Coast gas pipeline venture after receiving final approval. Pipeline venture expands MPLX midstream infrastructure and long-term cash flow in core energy corridor.
MPLX could be 5% undervalued after Solitude Pipeline approval. Pipeline approval may moderately affect MPLX operations and valuation.
21 Aug
RBC analysts forecast stronger MPLX LP growth in 2027 from ramping projects. Analyst projection of 2027 growth from project ramps signals moderate positive effects on future performance.
20 Aug
MPLX stock trends on Wall Street due to recent market activity and company-specific developments drawing investor attention. Events may moderately influence MPLX market performance without major long-term shifts.
17 Aug
MPLX LP reaches final investment decision on Solitude Pipeline System to transport natural gas from the Permian Basin to the Gulf Coast. Major pipeline investment expands MPLX capacity and revenue potential from Permian to Gulf Coast markets.
11 Aug
MPLX LP completed a $2 billion debt offering and is pursuing additional acquisitions. Debt offering supplies major capital for acquisitions that can expand operations and alter growth trajectory.
10 Aug
Marathon Petroleum beat Q2 earnings estimates on strong refining margins. Marathon Petroleum earnings strength supports MPLX cash flow stability as its sponsor.
MPLX LP growth projects face higher capital risks, prompting questions on whether the stock remains worth buying amid potential impacts to returns and operations. Higher capital risks tied to growth projects may moderately affect MPLX financial performance and investor sentiment without fundamentally altering its trajectory.
7 Aug
MPLX LP beat Q2 earnings estimates on strong oil pricing and cost controls. Earnings beat from pricing strength and cost discipline supports modestly improved near-term financial results and sentiment for MPLX.
5 Aug
MPLX LP posted Q2 earnings and revenues above estimates, fueled by higher gas and NGL volumes. Quarterly beat on volume growth supports better near-term results but lacks signals of major strategic change.
MPLX LP held its Q2 earnings call covering financial results, operational updates on midstream assets, distribution levels, and segment performance in natural gas and crude logistics. Quarterly earnings updates supply standard financial metrics that may shift near-term sentiment without altering long-term company trajectory.
4 Aug
MPLX LP posted record volumes in its Q2 2026 earnings call, fueled by strategic expansion initiatives that enhance operational scale and future growth prospects. Record volumes combined with strategic expansions indicate major operational gains likely to lift financial results and investor outlook.
MPLX LP conducted its Q2 2026 earnings call, covering financial results, operational updates, and forward guidance for the midstream energy partnership. Quarterly earnings results and guidance typically influence near-term investor views and valuation without reshaping long-term strategy.
MPLX LP reported second-quarter 2026 financial results. Quarterly earnings releases deliver performance metrics that can shift near-term investor sentiment and valuation.
13 Jul
Oil pipeline boom is converting AMLP into a high-yield income vehicle, setting up quarterly distribution increases for holdings including MPLX. Pipeline expansion cycle lifts MPLX midstream cash flows and supports sustained distribution growth.
2 Jun
MPLX LP expands Permian operations prompting fresh valuation assessment for the midstream partnership. Permian expansion moves strengthen MPLX asset base and cash flow outlook.
22 May
MPLX LP revises targets and throughput expectations, shifting prior operational and financial projections for the midstream operator. Revised targets and throughput expectations can adjust MPLX financial forecasts and near-term sentiment without altering core business model.
16 May
Barclays identifies an increasingly constructive environment for MPLX LP, pointing to improved conditions supporting the company's operations and outlook. Barclays positive view signals better sector conditions that could lift MPLX investor sentiment and near-term performance without major structural change.
13 May
MPLX LP reported mixed Q1 2026 earnings, prompting a valuation review amid a project-driven outlook. Mixed Q1 2026 earnings moderately affect financial performance, balanced by project-driven outlook.
12 May
MPLX LP Q1 earnings call highlights robust financial performance, increased distributions, strong segment results in logistics and storage, and optimistic outlook driven by midstream demand. Q1 earnings highlights detail strong financials, distribution hikes, and positive guidance, likely boosting investor confidence and stock trajectory.
8 May
MPLX LP's Q1 earnings missed analyst estimates due to higher costs and expenses. Q1 earnings miss from higher costs impacts financial performance and market sentiment moderately in the near term.
6 May
MPLX LP reported Q1 earnings with key metrics analyzed against estimates. Q1 earnings metrics versus estimates signal potential shifts in financial health and investor confidence for MPLX.
MPLX LP reported Q1 earnings with key metrics analyzed against analyst estimates. Q1 earnings metrics versus estimates moderately affect financial performance and investor sentiment.
5 May
MPLX LP released the transcript of its Q1 2026 earnings call. Earnings call transcripts disclose quarterly financials, operational updates, and guidance that significantly shape investor expectations and stock trajectory.
MPLX LP released Q1 2026 earnings call summary detailing financial results, operational updates, and future outlook. Q1 2026 earnings call summary affects financial performance and investor sentiment moderately.