MPLX Lp (MPLX) is listed on NYSE and operates in the Oil & Gas Midstream industry (Energy sector).
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products; and sale of residue gas and condensate. It also engages in the inland marine businesses comprising transportation of light products, heavy oils, crude oil, renewable fuels, chemicals, and feedstocks in the Mid-Continent and Gulf Coast regions, as well as owns and operates boats and barges, including third-party chartered equipment, and a marine repair facility located on the Ohio River; and distribution of fuel, as well as operates refining logistics, terminals, rail facilities, and storage caverns. In addition, the company operates terminal facilities for the receipt, storage, blending, additization, handling, and redelivery of refined petroleum products located through the pipeline, rail, marine, and over-the-road modes of transportation. MPLX GP LLC acts as the general partner of MPLX LP. The company was incorporated in 2012 and is headquartered in Findlay, Ohio. MPLX LP operates as a subsidiary of Marathon Petroleum Corporation.
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 20 |
| Hold | 8 |
| Sell | 0 |
| Strong Sell | 0 |
MPLX LP, a subsidiary of Marathon Petroleum Corporation, owns and operates midstream energy infrastructure and logistics assets in the United States. The company functions through two main segments: Logistics and Storage, and Gathering and Processing. It manages the gathering, processing, and transportation of natural gas, as well as the gathering, transportation, fractionation, storage, and marketing of natural gas liquids. MPLX LP also handles the gathering, storage, transportation, and distribution of crude oil, refined products, and other hydrocarbon-based products. Additionally, it operates in the inland marine sector, transporting various fuels and chemicals, and manages terminal facilities for refined petroleum products. Established in 2012, MPLX LP is headquartered in Findlay, Ohio.
Over the past three fiscal years, the company has demonstrated consistent revenue growth, achieving a compound annual growth rate (CAGR) of 6.4%, with revenue increasing from $10.43 billion in 2023 to $11.82 billion in 2025. This growth has been accompanied by a notable increase in earnings per share (EPS), which grew at a CAGR of 12.3%, rising from $3.82 to $4.82 over the same period. Despite the revenue growth, the company's operating margin experienced volatility, decreasing by 6.7 percentage points from 46.9% to 40.3%, suggesting challenges in maintaining cost efficiencies as the business scaled. However, the net margin improved by 3.9 percentage points, reaching 41.6%, indicating effective management of non-operating expenses. Cash flow from operations (OCF) showed an inconsistent trend, growing at a 4.6% CAGR, while free cash flow (FCF) decreased from $4.46 billion to $4.10 billion, reflecting a decline in FCF margin by 8.0 percentage points. This decline in FCF, coupled with a consistent increase in net debt, which rose from $19.87 billion to $24.03 billion, suggests increased financial leverage. The company's cash conversion ratio (CCR) decreased to 1.19, indicating a slight deterioration in the quality of earnings being converted into cash. Despite these challenges, the interest coverage ratio improved to 6.0x, highlighting the company's ability to meet its interest obligations comfortably. Additionally, the working capital cycle improved, with the cash conversion cycle (CCC) decreasing to 25 days, reflecting enhanced efficiency in managing receivables, inventory, and payables.
Recent developments for MPLX LP have been primarily focused on analyst ratings and institutional trading activities. On April 21, The Motley Fool highlighted MPLX as one of three pipeline stocks with high yields, noting its 6% distribution yield and a history of increasing cash distributions for 27 consecutive years. This underscores MPLX's appeal as a stable income-generating investment. Additionally, on April 17, another Motley Fool article emphasized MPLX's strong growth prospects due to its significant presence in the Permian Basin, further solidifying its position as a favorable investment in the energy sector.
In terms of institutional trading, GraniteShares Advisors LLC decreased its stake in MPLX, while Caprock Group LLC and another entity acquired new positions worth $2,698,000 and $990,000, respectively, during the third quarter. These transactions suggest a mixed sentiment among institutional investors, with some reducing exposure while others see potential value in MPLX.
Overall, MPLX continues to be recognized for its robust distribution yields and strategic positioning in the energy market, attracting both analyst attention and varied institutional interest.