MPLX LP owns and operates energy infrastructure and midstream logistics assets primarily in the United States.
| Revenue (TTM) | $12.03B |
| Gross Profit (TTM) | $6.70B |
| EBITDA | $6.11B |
| Operating Margin | 38.30% |
| Return on Equity | 33.70% |
| Return on Assets | 7.25% |
| Revenue/Share (TTM) | $11.84 |
| Book Value | $13.83 |
| Price-to-Book | 4.30 |
| Price-to-Sales (TTM) | 4.98 |
| EV/Revenue | 7.31 |
| EV/EBITDA | 11.63 |
| Quarterly Earnings Growth (YoY) | 3.20% |
| Quarterly Revenue Growth (YoY) | 10.60% |
| Shares Outstanding | $1.01B |
| Float | $364.76M |
| % Insiders | 64.03% |
| % Institutions | 19.70% |
Volatility is currently expanding
FINDLAY, Ohio, Aug. 17, 2026 /PRNewswire/ -- MPLX LP (NYSE: MPLX) today announced that the company's 2025 Schedule K-3 investor tax packages reflecting items of international tax relevance are now available on its website, https://www.mplx.com. Investors may select the Investor Data link under the Investors tab or use the following link: https://www.taxpackagesupport.com/mplxlp.
Conservative capital spending by upstream players is adding uncertainty to the Zacks Oil and Gas - Production and Pipelines industry's outlook. KMI, WMB and MPLX are surviving the industry challenges.
MPLX's growth pipeline and rising gas and NGL investments support cash-flow growth, but higher spending and leverage raise execution risks.
MPLX LP delivered a solid Q2, with adjusted EBITDA up 5% and distributions growing 12.5%, confirming its status as a top-tier MLP. Growth is driven by robust natural gas and NGL services, with over 90% of increased capex targeting these segments and multiple projects providing multi-year visibility. Distribution coverage dipped to 1.3x, and leverage rose to 3.7x due to capex ramp-up, but the payout remains stable and is expected to keep growing.
MPLX (MPLX) remains a Strong Buy, with reliable income and visible growth supported by robust project execution and strong demand. Distribution coverage remains healthy at ~1.3x, with a 12.5% distribution growth commitment now extended through 2026 and 2027. Recent distributable cash flow softness is attributed to timing and financing of growth projects, not structural weakness, with leverage at a manageable ~3.7x.
MPLX LP (NYSE: MPLX) secures 85%–90% of revenues through long-term, fixed-fee contracts and Minimum Volume Commitments (MVCs), providing robust downside protection against commodity volatility. Recent Q2 2026 results showed $1.1B net income, $1.8B adjusted EBITDA, and $1.5B distributable cash flow, supporting robust capital returns. MPLX is executing a $2.4B organic growth plan, expanding Delaware/Marcellus Basin processing, advancing Permian gas egress , and targeting AI/HPC opportunities with an LoI with Marathon Digital.
MPLX's Q2 earnings and revenues beat estimates as higher gathering and fractionation volumes lift EBITDA, while new projects support growth.
It's likely a good bet that the Federal Reserve will raise the federal funds rate by 25 basis points (1/4 of 1%) in September.
Mplx NYSE: MPLX reported second-quarter adjusted EBITDA of $1.8 billion, up 5% from a year earlier, as higher volumes and rates across its operations more than offset the late-2025 divestiture of its Rockies assets. The partnership returned more than $1.1 billion to unitholders during the quarter and said it remains on track for mid-single-digit adjusted EBITDA growth in 2026.
MPLX LP Common Units (MPLX) Q2 2026 Earnings Call Transcript
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