MPLX LP (MPLX) Stock Price & Analysis
MPLX LP (MPLX) closed at USD 58.18 on Thursday, October 22, 2026, down 0.44% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 58.44; the Oct 22, 2026 session ranged USD 57.35–58.53 on volume of 1,432,360 shares. Market capitalization is $58.99B, with a 52-week range of USD 50.12–60.95 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:19 UTC.
Also available as compact Markdown for AI agents: nexqual.com/MPLX.md
Key facts (MPLX)
- Last four reported quarters (through Jun 30, 2026): revenue $13.2B, net income $4.77B (36.1% margin), free cash flow $3.34B (SEC filings).
- Valuation: P/E 12.4x, net debt $23.4B.
- 2 of 80 tracked superinvestors hold MPLX (13F, Q2 2026): 0 new, 0 added, 1 reduced, 1 unchanged.
- Analysts: Hold (mean 2.60 on a 1–5 scale) (15 analysts), mean target USD 62.69 (range 54–73).
- Total return with dividends: 1Y +23.6% vs S&P 500 +14.9%; 5Y +193.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 1.14, revenue estimate $3.35B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MPLX)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $10.0B | $11.6B | $11.3B | $11.9B | $13.0B | $13.2B |
| Operating income | $3.99B | $4.91B | $4.90B | $5.29B | $5.94B | $5.88B |
| Net income | $3.08B | $3.94B | $3.93B | $4.36B | $4.95B | $4.77B |
| Free cash flow | $4.38B | $4.21B | $4.46B | $4.89B | $4.10B | $3.34B |
| Operating margin | 39.8% | 42.3% | 43.4% | 44.3% | 45.7% | 44.4% |
| Net margin | 30.7% | 34.0% | 34.8% | 36.5% | 38.1% | 36.1% |
| Revenue growth | +32.5% | +15.8% | -2.9% | +5.8% | +8.9% | — |
| Cash + short-term investments | $13.0M | $238M | $1.05B | $1.52B | $2.14B | — |
| Total debt | $18.6B | $19.8B | $20.4B | $20.9B | $25.7B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (MPLX)
P/E 12.4x · P/S 4.5x · EV/Sales 6.2x · P/FCF 17.7x · FCF yield 5.66% · Earnings yield 8.08% · Buyback yield (TTM) 0.51% · Net debt $23.4B · EV $82.3B
Superinvestors (SEC 13F-HR, Q2 2026) (MPLX)
2 of 80 tracked investors hold MPLX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Glenn Greenberg | Brave Warrior Advisors | 3.90% | $179M | Reduced -2.2% |
| David Tepper | Appaloosa Management | 0.38% | $28.3M | Unchanged |
Analysts (MPLX)
Consensus Hold (mean 2.60 on a 1–5 scale), 15 analysts; mean target USD 62.69 (low 54, high 73).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Morgan Stanley | Target lowered | Equal-Weight | $66 → $64 |
| 2026-08-21 | RBC Capital | Target raised | Outperform | $60 → $64 |
| 2026-08-12 | Morgan Stanley | Target raised | Equal-Weight | $60 → $66 |
| 2026-08-06 | Barclays | Target raised | Overweight | $59 → $63 |
| 2026-08-05 | Wells Fargo | Target raised | Overweight | $61 → $63 |
| 2026-07-29 | Wolfe Research | Downgrade | Outperform → Peer Perform | |
| 2026-07-02 | RBC Capital | Reiterated | Outperform | $60 |
Total return (dividends reinvested) (MPLX)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +23.6% | +193.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +23.7% | +23.9% |
| Volatility (annualized) | 16.5% | 19.6% |
| Max drawdown | -7.7% (Mar 2026→Apr 2026) | -16.2% (Apr 2022→Jun 2022) |
MPLX revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Natural Gas and NGL Services | $1.38B | 41.5% | +19.7% |
| Crude Oil and Products Logistics | $1.24B | 37.4% | +2.7% |
| Total revenue | $3.31B | 100% | — |
MPLX revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Service | $1.23B | 37.2% | +2.5% |
| Product | $7.0M | 0.2% | +75.0% |
| Total revenue | $3.31B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
MPLX suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Marathon Petroleum Corp (MPC) | “References to our sponsor and customer, "MPC," refer collectively to Marathon Petroleum Corporation and its subsidiaries, other than the Partnership.” |
| Partner | ENBRIDGE INC (ENB) | “(2) The year ended December 31, 2025 includes $2.4 billion for the Northwind Midstream Acquisition, $703 million for the BANGL Acquisition, $235 million for the acquisition of Whiptail Midstream, LLC, $151 million for the purchase of an additional five percent ownership interest in the joint venture that owns and operates the Matterhorn Express pipeline, a $49 million capital contribution to WPC Parent, LLC to red…” |
| Partner | MarEn Bakken Company | “(1) The investment in MarEn Bakken Company LLC includes our 9.19 percent indirect interest in a joint venture that owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects (collectively referred to as the "Bakken Pipeline system").” |
| Partner | Master | “We are a Master Limited Partnership ("MLP") with outstanding common units held by MPC and public unitholders.” |
| Partner | Amended and Restated Agreement of | “•the requirements and restrictions arising under our Sixth Amended and Restated Agreement of Limited Partnership, dated as of February 1, 2021 ("Partnership Agreement"), including the requirement that we distribute all of our available” |
| Partner | Delaware Revised Uniform | “Under Section 17-607 of the Delaware Revised Uniform Limited Partnership Act, we may not make a distribution to unitholders if the distribution would cause our liabilities to exceed the fair value of our assets.” |
| Partner | Centrahoma Processing | “(2) The capacity presented above includes our proportionate share of Centrahoma Processing LLC's processing capacity of 550 MMcf/d, as we own a non-operating 40 percent interest in this joint venture.” |
| Partner | BANGL | “The purchase price of the additional 20 percent ownership interest in BANGL exceeded our portion of the underlying net assets of the joint venture by approximately $156 million.” |
Quoted from the company's 10-K filed Feb 26, 2026.
MPLX analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.14 | $1.23 | -7.2% | $3.35B | 6 |
| Next quarter (ends Dec 2026) | $1.19 | $1.26 | -5.5% | $3.44B | 6 |
| Current fiscal year (ends Dec 2026) | $4.33 | $4.55 | -4.7% | $13.13B | 7 |
| Next fiscal year (ends Dec 2027) | $4.80 | $4.92 | -2.6% | $14.09B | 8 |
MPLX options: expected move
Options price a move of about ±4.3% (±$2.53) by Nov 20, 2026, which includes earnings on Nov 3, 2026. Over the last 8 reports the stock moved ±2.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 16.4% | ±4.3% |
| Dec 18, 2026 | 56 | 17.3% | ±5.6% |
| Jan 15, 2027 | 84 | 16.9% | ±6.5% |
| Mar 19, 2027 | 147 | 17.4% | ±9.1% |
| Jun 17, 2027 | 237 | 17.8% | ±11.7% |
30-day implied volatility 16.9% vs 17.1% realized over the last 30 trading days. Put/call ratio (volume) 10.33. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:19 UTC)
| Price | USD 58.18 |
|---|---|
| Change | ▼ 0.44% (down) |
| Previous Close | USD 58.44 |
| Open | USD 58.3 |
| Day Range | USD 57.35 – 58.53 |
| 52-Week Range | USD 50.12 – 60.95 |
| Volume | 1,432,360 shares |
| Market Cap | $58.99B |
| Exchange | NYQ |
Technical Analysis (MPLX)
Nexqual's technical model rates MPLX "NEUTRAL" based on 3 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 09:19 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 51.55 (neutral) |
| vs SMA50 | Below (USD 58.35) |
| MACD | -0.02 (negative) |
Analyst Ratings (MPLX)
Wall Street analysts rate MPLX "Hold" based on 15 analysts, with a mean price target of USD 62.69 (range USD 54–73), per Nexqual as of October 23, 2026 at 09:19 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 15 |
| Mean Target | USD 62.69 |
| High Target | USD 73 |
| Low Target | USD 54 |
| Buy / Hold / Sell | 6 / 8 / 1 |
Earnings (MPLX)
| Next Earnings Date | 2026-11-03 |
|---|---|
| EPS Estimate | USD 1.14 |
| Revenue Estimate | $3.35B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.06 vs est 1.06 ▼ miss |
| 2026-03-31 | USD 0.9 vs est 1.08 ▼ miss |
| 2025-12-31 | USD 1.05 vs est 1.03 ▲ beat |
| 2025-09-30 | USD 1.52 vs est 1.09 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:19 UTC.
Financials & Fundamentals (MPLX)
| Total Revenue | $12.03B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +10.60% |
| Gross Margin | +55.71% |
| Operating Margin | +38.25% |
| Profit Margin | +39.28% |
| ROE | +33.69% |
| Debt / Equity | 1.83 |
| Current Ratio | 0.89 |
| Total Cash | $1.03B |
| Total Debt | $26.13B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $3.34B (25.2% of revenue) |
Source: Nexqual, October 23, 2026 at 09:19 UTC.
Financial Health Score (MPLX)
Nexqual rates MPLX LP's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:19 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 56%, operating 38% (last 12 months) |
| Balance Sheet | Critical — $1.03B cash and investments vs $24.4B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $3.34B (last 4 quarters to Jun 2026, SEC), 25% margin |
| Efficiency | Strong — ROE 34%, ROA 7.3% |
Ownership (MPLX)
| Insider Ownership | +64.03% |
|---|---|
| Institutional Ownership | +19.71% |
| Shares Outstanding | 1.01B |
| Float | 364.75M |
| Short % of Float | +1.83% |
Source: Nexqual, October 23, 2026 at 09:19 UTC.
Leadership (MPLX)
MPLX LP is led by Maryann T. Mannen, President, CEO & Chairman of the Board of MPLX GP LLC, per Nexqual as of October 23, 2026 at 09:19 UTC.
| President, CEO & Chairman of the Board of MPLX GP LLC | Maryann T. Mannen |
|---|---|
| Executive VP, CFO & Director of MPLX GP LLC | Carl Kristopher Hagedorn |
| Executive VP & COO of MPLX GP LLC | Gregory Scott Floerke |
| Vice President of Finance & Investor Relations - MPLX GP LLC | Kristina Anna Kazarian |
| Senior Vice President of MPLX GP LLC | Rick D. Hessling |
Major Backers & Investors (MPLX)
Notable institutional backers of MPLX LP include Alps Advisors Inc., ALPS ETF TRUST-ALERIAN MLP ETF, Invesco, according to Nexqual as of October 23, 2026 at 09:19 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Alps Advisors Inc. | 2.82% |
| ALPS ETF TRUST-ALERIAN MLP ETF | 2.65% |
| Invesco | 1.8% |
| AIM Investment Fd.s -Invesco SteelPath MLP Income Fd. | 1.66% |
| Blackstone Inc | 1.28% |
| Goldman Sachs | 1.12% |
| Tortoise Capital Advisors, LLC | 1.04% |
| Mirae Asset Global ETFs Holdings Ltd. | 0.79% |
Source: Nexqual, October 23, 2026 at 09:19 UTC.
From MPLX LP's Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- Our approach to sustainability spans the environmental, social and governance dimensions of our business.
- We believe that our customer focus, demonstrated by our ability to offer an integrated package of services and our flexibility in considering various types of contractual arrangements, allows us to compete more effectively.
Partnerships
- Transportation Services Agreements, Storage Services Agreements, Terminal Services Agreements and Fuels Distribution Services Agreement with MPC Our Crude Oil and Products Logistics assets are strategically located within, and integral to, MPC's operations.
- We have a fuels distribution service agreement with MPC under which MPC pays MPLX a tiered monthly fee based on the volume of MPC's products marketed by MPLX each month, subject to a maximum annual volume.
Legal & Regulatory Risks (Item 1A, quoted)
- The specific impact of laws and regulations on us and our competitors may vary depending on a number of factors, including the age and location of operating facilities, marketing areas and production processes and subsequent judicial interpretation of such laws and regulations.
- Increased regulation of hydraulic fracturing and other oil and gas production activities could result in reductions or delays in U.S. production of crude oil and natural gas, which could adversely affect our results of operations and financial condition.
- Climate change and GHG emission regulation could affect our operations, energy consumption patterns and regulatory obligations, any of which could adversely impact our business, results of operations and financial condition.
- We are subject to risks associated with societal and political pressures and other forms of opposition to the development, transportation and use of carbon-based fuels. Such risks could adversely impact our business and our ability to continue to operate or realize certain growth strategies.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| OKE | ONEOK, Inc. | USD 93.9 | ▲ 0.84% |
| LNG | Cheniere Energy, Inc. | USD 287.01 | ▲ 0.98% |
| TRGP | Targa Resources, Inc. | USD 289.54 | ▼ 2.05% |
| TRP | TC Energy Corporation | USD 61.98 | ▼ 0.53% |
| KMI | Kinder Morgan, Inc. | USD 33.72 | ▼ 0.74% |
| EPD | Enterprise Products Partners L. | USD 36.52 | ▼ 0.19% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:19 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt