MPLX LP MPLX
United StatesEnergy · Oil & Gas MidstreamUSD
62.85 USD (+10.2%)
13 analysts
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MPLX LP is a US energy infrastructure (midstream) operator that transports, stores, and processes crude oil, natural gas, and refined products, generating revenue primarily through long-term contracts and regulated tariffs.
Key points
from its scores- ✓Favourable backdrop7.9
- ✓Good share-price trend7.7
- ✓Attractive dividend7.2
- ✕Demanding valuation4.8
- !Balance sheet could be stronger5.2
AI analysis
bottom line, main risk, context and newsThe high dividend and stability of the midstream business offer a defensive profile, but high leverage and payout warrant caution.
MPLX shows moderate financial health (5.15) with high leverage (Net Debt/EBITDA 4.11), but compensates with an operating margin of 38.25% and an ROE of 33.69%. Its dividend is very attractive (net yield 7.55%), although the 90% payout limits the margin of safety. Valuation is reasonable (P/E 12.27) and momentum is strong (35.32% over 12 months).
The main risk is its high leverage (Net Debt/EBITDA 4.11) and a 90% payout, which limit financial flexibility in the face of a prolonged rise in interest rates or a sustained decline in hydrocarbon volumes.
Context and risks
MPLX is a US hydrocarbon midstream operator, with revenues regulated by long-term contracts and a cost structure with little exposure to crude volatility. Its main risk is regulatory and governance, moderate in its home country, which is already reflected in its base risk profile.
Is MPLX LP stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 24% above the Energy median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 12.3 | 15.7 | −22% |
| EV / EBITDA | 13.6 | 8.0 | +69% |
| Price / book | 4.1 | 2.2 | +84% |
| Price / sales | 4.8 | 1.9 | +151% |
Sector: median of the 102 Energy companies analysed. In bold, the multiples used for the comparison.
Valuation score: 4.8 out of 10 (median for Energy: 5.9).
Average analyst target: 62.85 USD, +10.2% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 6.2 (sector 5.8), Growth 6.0 (sector 7.2).
Classic formulas with standard assumptions (3.7% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Energy medianValuation
- P/E
- 12.3
- Forward P/E
- 11.8
- EV / EBITDA
- 13.6
- Price / book
- 4.1
- Price / sales
- 4.8
- PEG
- 3.03
- Market cap
- 57.9B USD
- Enterprise value
- 83.2B USD
Profitability
- ROE
- 33.7%
- ROA
- 7.3%
- ROIC (approx.)
- 11.5%
- Gross margin
- 55.7%
- Operating margin
- 38.2%
- Net margin
- 39.3%
- Free cash flow
- 1.4B USD
- FCF yield
- 2.4%
- Cash conversion
- 22%
Solvency
- Total debt
- 26.1B USD
- Net debt
- 25.1B USD
- Cash
- 1.0B USD
- EBITDA
- 6.1B USD
- Net debt / EBITDA
- 4.11
- Debt / equity
- 183.36
- Current ratio
- 0.89
- Quick ratio
- 0.81
Growth
- Revenue growth
- +10.6%
- Earnings growth
- +3.2%
- EPS (TTM)
- 4.65 USD
- EPS (forward)
- 4.82 USD
Dividend
- Dividend yield
- 7.6%
- Payout
- 90.0%
Risk and market
- Beta
- 0.48
- Analyst consensus
- Buy (13)
- Target price
- 62.85 USD
- 52-week range
- 47.80 – 60.95
Recent news
All MPLX news →Compare it with its sector
All 102 in Energy →Frequently asked questions about MPLX LP
Is MPLX LP stock cheap or expensive?
On P/E and EV / EBITDA, it trades 24% above the Energy median on average. Valuation score: 4.8 out of 10 (median for Energy: 5.9). Average analyst target: 62.85 USD, +10.2% versus the price. This is not investment advice.
What score does MPLX LP get on MeridIAn Screener?
It scores 6.3 out of 10, rank 748 of 2,130 (better than 63% of the companies analysed). Its strongest category is Risk & Context (7.9) and its weakest, Valuation (4.8). Analysis of 08/10/2026.
What is MPLX LP's P/E ratio?
Its P/E is 12.3: the share price equals 12.3 times earnings per share over the last 12 months. The Energy median is 15.7. Based on the earnings analysts expect, the forward P/E is 11.8.
How much is MPLX LP worth on the stock market?
Its market capitalisation is 57.9B USD and its enterprise value, debt included, is 83.2B USD.
How much debt does MPLX LP have?
Its net debt (debt minus cash) is 25.1B USD. That is 4.11 times its EBITDA; the Energy median is 1.23.
Does MPLX LP pay a dividend?
Yes: its dividend yield is 7.55% and it pays out 90% of its earnings.
How has MPLX LP stock performed over the last year?
It has risen 29.0% over the last year, excluding dividends. Over the last 52 weeks it has traded between 47.80 and 60.95 USD. Past performance does not guarantee future results.
What do analysts think of MPLX LP?
13 analysts cover it; their average recommendation is “Buy” and their average target is 62.85 USD (+10.2% versus the price). It is an estimate, not market data.