MPLX · Mplx LP
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Aug 4, 2026TL;DR. MPLX reported Q2 2026 adjusted EBITDA of $1.8 billion (up 5% year-over-year), raised its 2026 growth capital spending outlook by $500 million to $2.9 billion to pull forward Gulf Coast fractionation spend, and reiterated plans for 12.5% distribution increases in both 2026 and 2027.
- + Adjusted EBITDA rose 5% YoY to $1.8 billion, more than offsetting the 2025 Rockies divestiture.
- + Natural Gas & NGL Services segment adjusted EBITDA grew 11% YoY on volume growth and equity affiliate contributions.
- + Plans to grow the quarterly distribution by 12.5% in both 2026 and 2027, supported by $1.1 billion of capital returns this quarter.
- + Mid-single-digit 2026 EBITDA growth reaffirmed with back-half-weighted ramp from Secretariat I, Harmon Creek III, Titan II, Bengal and Blackcomb.
- + Delaware Basin processing exited Q2 at 86% utilization after placing Secretariat I in service, with Harmon Creek III adding 300 MMcf/d plus a 40 mbpd de-ethanizer.
- − 2026 growth capital outlook increased by $500 million to $2.9 billion, accelerating Gulf Coast fractionation spend from 2027.
- − Distribution coverage declined to 1.3x in Q2 2026 from 1.5x a year earlier, with adjusted FCF after distributions of -$424 million.
- − Leverage ratio rose to 3.7x at quarter-end from 3.1x a year earlier on higher debt.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Oil & Gas Midstream — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MPLX
this stock
Mplx LP
|
$57.59B | +5.5% | +8.9% | 12.2 | 0.7% |
|
ENB
Enbridge Inc
|
$102.08B | -2.8% | — | — | 0.8% |
|
WMB
Williams Companies, Inc.
|
$84.72B | +13.1% | +13.8% | 27.6 | 2.0% |
|
EPD
Enterprise Products Partners L.P.
|
$79.36B | +11.1% | -6.4% | 12.7 | 0.8% |
|
ET
Energy Transfer LP
|
$69.52B | +19.9% | +3.5% | — | 0.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MPLX | -4.2% | -4.7% | -0.1% | -4.8% | +5.5% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | -3.6% | -4.8% | -12.2% | -4.2% | -6.3% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.