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MPLX · Mplx LP

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$57.25 +0.66 (+1.17%) At close · Nov 13
Rebalance outlook locked
Market Cap
$58.00B
Shares
1.01B
Volume · Nov 13 2.47M Avg daily vol (3M) 1.45M

Price & Indicators

Drag to pan · scroll to zoom
Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$57.25 Open$57.23 Day$56.80–57.35 52W close$51.95–60.51 Avg vol 30d1.6M Short int6.8M · 0.7% of shares · 5.6d Short vol63% Last earningsNov 3, 2026 DataJan 2020–Nov 2026 Filing10-Q · Nov 3

Up next

Next earnings call
Feb 2, 2027 Est · unconfirmed · in 11 wks
Q2 2026 earnings call transcript
call held Aug 4, 2026
Play latest call

Latest documents

2026
Nov 3
Quarterly report 10-Q FY2026 Q3, ended Sep 30
Earnings fall ahead of $750 million refinery logistics divestiture

MPLX reported third-quarter net income attributable of $1.2 billion and Adjusted EBITDA attributable of $1.9 billion, while agreeing to divest refinery logistics assets for $750 million in cash.

Revenue $3.61B ▼ 0.4% Net income $1.17B ▼ 24.5%
Read from the MD&A section
3 source passages
Third-quarter net income attributable to MPLX of $1.2 billion and net cash provided by operating activities of $1.5 billion Adjusted EBITDA attributable to MPLX of $1.9 billion and distributable cash flow of $1.5 billion, enabling the return of $1.1 billion of capital On November 2, 2026, we entered into a definitive agreement to divest our logistics assets associated with MPC’s St. Paul Park, Minnesota and Mandan, North Dakota refineries for $750 million in cash, subject to working capital and other closing adjustments. Open the document at this passage
Nov 3
Current report 8-K
Distribution rises 12.5% as adjusted EBITDA reaches $1,859 million

MPLX LP reported net income attributable to MPLX of $1,164 million and adjusted EBITDA of $1,859 million for the quarter ended September 30, 2026. It increased its quarterly distribution 12.5% to $4.84 per unit annualized.

Financial results
4 source passages
On November 3, 2026, MPLX LP issued a press release announcing its financial results for the quarter ended September 30, 2026. MPLX LP (NYSE: MPLX) today reported third-quarter 2026 net income attributable to MPLX of $1,164 million, compared with $1,545 million for the third quarter of 2025. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) attributable to MPLX was $1,859 million, compared with $1,766 million for the third quarter of 2025, an increase of $93 million or 5.3%. Increased quarterly distribution 12.5% for the third consecutive year, to $4.84 per unit annualized Open the document at this passage
Oct 29
Current report 8-K Events of Oct 27
Director or officer change, or executive pay, Other events

MPLX LP elected Micheal G. Dunn and Bruce L. Niemeyer to the board of directors of MPLX GP LLC, effective November 1, 2026, expanding it to twelve directors; both also joined the Audit Committee and Conflicts Committee.

Aug 24
Current report 8-K
Other events AI summary on its way
All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$13.21B
Trailing 12 months
Net income (TTM)
$4.39B
Trailing 12 months
Revenue growth YoY
-0.4%
Year over year
Operating margin
42.0%
Trailing 12 months
P / E (TTM)
13.2
Trailing earnings · reciprocal yield 7.6%
FCF yield
5.4%
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
−$25.71B
Latest balance sheet
Dividend yield
7.8%
Trailing 12 months
Shares change YoY
-0.4%
Year over year · fewer shares
Price change (1Y)
+10.2%
Trailing year
Short interest
0.7%
Latest settlement · 5.6 days to cover
View all 125 metrics

Quarterly results

Revenue Net income Net loss
▲3.3% $3.06B $1.11B '24 Q4* ▲9.8% $3.12B $1.14B '25 Q1 ▼1.6% $3.00B $1.06B '25 Q2 ▲21.8% $3.62B $1.55B '25 Q3 ▲6.2% $3.25B $1.20B '25 Q4* ▼2.8% $3.04B $922.00M '26 Q1 ▲10.3% $3.31B $1.09B '26 Q2 LATEST ▼0.4% $3.60B $1.17B '26 Q3

* Q4 derived as the full year minus Q1 to Q3.

AI Brief

Q2 FY26 earnings call · Aug 4, 2026
Q2 FY26

TL;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.

Bullish
  • + 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.
Bearish
  • − 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 advice
Overall
Buy
SellHoldBuy
Technical Sell Momentum Strong Sentiment Bearish Fundamentals Excellent Quant / Vol Very Low
Market backdrop VIX 19.3 · elevated Equity put/call 0.63
Technical
price trend
Sell
50 / 200-day cross No cross
Price vs 200-day avg −0%
below
Price vs 50-day avg −1%
below
RSI (14) 48
neutral
MACD trend Negative
52-week position 62%
mid-range
Momentum
relative strength
Strong
1-month return −2%
trailing
6-month return +1%
trailing
YTD return +7%
this year
Relative strength +1%
vs S&P · 6-mo
Sentiment
smart money
Bearish
Trend (MA cross) No cross
50d $58 › 200d $57 — 50d above 200d
Institutional flow Distributing
587 of 645 funds reported for Sep 30 · net -2.8M sh shares · +37 new
Insider flow Distributing
Net -$199.3K over 90 days · 100% sells
Short interest Rising
0.68% of shares out · ▲ +5.7% MoM · 5.6 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr high
645 holders — near 3-yr high, broad support
Squeeze score 54
elevated · 0–100
Fundamentals
Excellent
Revenue growth +9%
Y/Y
Free cash flow $4.1B
Valuation P/E 13.4
below peers
Buyback $970.0M
remaining
Balance sheet $23.9B
net debt
Quant / Vol
risk profile
Very Low
Volatility 18%
annualized · 1-yr
Max drawdown −9%
past year
ATR 2.0%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Latest guidance · from the Earnings Call filed Aug 4, 2026
Capital spending · 2026 $2.9B
Previous outlook earlier release · from the Earnings Call filed May 5, 2026

Still-open targets the latest release did not restate under the same label.

Distribution growth · 2026 and 2027 12.5%
Prior guidance period ended · from the Earnings Call filed May 5, 2026
Project-related expenses sequential increase · second quarter 2026 $50M

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Sell
1 · 5 · 0
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
−0% Neutral
Price vs 50-day avg
−1% Neutral
RSI (14)
48 Neutral
MACD trend
Negative Bearish
52-week position
62% Neutral
Market signals — smart money & positioning
Bearish · 3 of 6
Trend (MA cross) No cross
50d $58 › 200d $57 — 50d above 200d
Institutional flow Distributing
587 of 645 funds reported for Sep 30 · net -2.8M sh shares · +37 new
Insider flow Distributing
Net -$199.3K over 90 days · 100% sells
Short interest Rising
0.68% of shares out · ▲ +5.7% MoM · 5.6 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr high
645 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $52 Now $57 · 62% Range high $61
vs 200-day avg 0% vs 50-day avg -1%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
Adjusted EBITDA non-GAAP 1.79B Three Months Ended June 30, 2026 —
Adjusted EBITDA attributable to MPLX LP non-GAAP $3.5B six months ended June 30, 2026 —
Adjusted free cash flow non-GAAP 668M the second quarter of 2026 —
GAAP → non-GAAP reconciliation
GAAP Net cash provided by operating activities 1.7B
-1.03B Net cash used in investing activities
+5M Contributions from MPC
-11M Distributions to noncontrolling interests
= Adjusted free cash flow 668M
Adjusted free cash flow after distributions non-GAAP -424M Three Months Ended June 30, 2026 —
GAAP → non-GAAP reconciliation
GAAP Adjusted free cash flow 668M
-1.09B Distributions paid to common and preferred unitholders
= Adjusted free cash flow after distributions -424M
Average cost per unit $56.01 the three months ended June 30, 2026 filing —
Average pipeline tariff rates $1.07 the three months ended June 30, 2026 —
C2 + NGLs fractionated 680 the three months ended June 30, 2026 —
Cash paid for common unit repurchases $50M the second quarter of 2026 —
Crude Oil and Products Logistics segment adjusted EBITDA non-GAAP 1.16B the second quarter of 2026 —
Crude Oil and Products Logistics segment adjusted EBITDA attributable to MPLX LP non-GAAP $1.16B three months ended June 30, 2026 —
Crude oil pipelines average tariff rate $1.06 the three months ended June 30, 2026 filing —
Crude oil pipelines throughput (mbpd) 3,830 the three months ended June 30, 2026 filing —
DCF attributable to MPLX LP non-GAAP $2.86B six months ended June 30, 2026 —
Distribution per common unit $1.08 the second quarter of 2026 —
Gathering throughput 6,859 the three months ended June 30, 2026 —
LTM Adjusted EBITDA non-GAAP 7.12B Last Twelve Months ended June 30, 2026 —
Natural Gas and NGL Services segment adjusted EBITDA non-GAAP 614M the second quarter of 2026 —
Natural Gas and NGL Services segment adjusted EBITDA attributable to MPLX LP non-GAAP $614M three months ended June 30, 2026 —
Natural gas processed 9,590 the three months ended June 30, 2026 —
Product pipelines average tariff rate $1.09 the three months ended June 30, 2026 filing —
Product pipelines throughput (mbpd) 2,046 the three months ended June 30, 2026 filing —
Segment Adjusted EBITDA non-GAAP $614M the three months ended June 30, 2026 filing —
Terminal throughput 3,259 the three months ended June 30, 2026 —
Total C2 + NGLs fractionated 608 the three months ended June 30, 2026 filing —
Total C2 + NGLs fractionated (consolidated) 608 three months ended June 30, 2026 —
Total C2 + NGLs fractionated (operated) 680 three months ended June 30, 2026 —
Total distribution declared 1.09B the three months ended June 30, 2026 filing —
Total gathering throughput 3,832 the three months ended June 30, 2026 filing —
Total growth capital expenditures 874M Three Months Ended June 30, 2026 —
Total maintenance capital expenditures 67M Three Months Ended June 30, 2026 —
Total natural gas processed 6,964 the three months ended June 30, 2026 filing —
Total NGL pipeline throughput 719 the three months ended June 30, 2026 filing —
Total pipelines throughput 5,789 six months ended June 30, 2026 —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Oil & Gas Midstream — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
MPLX
Mplx LP
this stock
$58.00B +7.3% +8.9% 13.4 0.7%
ENB
Enbridge Inc
 $106.25B -0.3% — — 2.5%
WMB
Williams Companies, Inc.
 $84.51B +14.9% +13.8% 27.2 2.4%
EPD
Enterprise Products Partners L.P.
 $82.55B +19.4% -6.4% 12.7 0.8%
KMI
Kinder Morgan, Inc.
 $71.11B +16.1% +12.2% 19.7 1.9%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Reducing
Holders
649
% held
19.5%
Reported
587 of 645
Top holder
ALPS ADVISORS INC
Held Float
View
Held by Funds
Fund positions
123
View
Short & Settlement
Short Interest Rising
Shares short
6.8M
Days to cover
5.6d
Change
+367.1K sh
View
Short Volume
Short vol %
63%
As of
Nov 13, 2026
Short Total
View
Fails to Deliver
FTD shares
258
Value
$14.7K
As of
Oct 13, 2026
View
Off-Exchange
Off-exchange %
45.4%
Week of
Oct 5, 2026
Off-exch Lit
View
Smart Money
Insider Trades Net selling
Net (90d)
-$199.3K
Buyers / Sellers
0 / 1
Buyers Sellers
View
Congressional Trades Sell
Member
Mark Green
Amount
$500.0K–$1.0M
Traded
Dec 21, 2021
View
Financials
Financials
Revenue (FY)
$13.0B
Net income (FY)
$3.9B
View
Buybacks
Authorized · 2 programs
$2.0B
Remaining
$970.0M
Spent Remaining
View
Filings
SEC Filings
Latest
10-Q
Filed
Nov 3, 2026
This year
14

MPLX reported third-quarter net income attributable of $1.2 billion and Adjusted EBITDA attributable of $1.9 billion, while agreeing to divest refinery logistics assets for $750 million in cash.

View
Proposed Sales
Value
$199.3K
Shares
3.5K
Filed
Nov 10, 2026
View
Earnings & Events
Webcasts
Last webcast
Nov 3, 2026
View
Investor Relations
Latest news
MPLX LP Reports Third-Quarter 202…
Published
Nov 3, 2026
View

Performance

5D 20D 120D MTD YTD
MPLX +2.4% -1.6% +1.4% -4.8% +7.3%
SPY +2.6% -1.2% +0.5% -0.2% +10.6%
vs SPY -0.2% -0.4% +0.9% -4.7% -3.4%

Capital returns

Latest dividend
$1.211 / share · ex Nov 6, 2026
Raised 12.4%
Paid (TTM)
$4.442 / share · 4 payouts
Dividend yield (TTM, derived)
7.76%
Full dividend history
Buyback programs · 2 active · as of Sep 30, 2026
Authorized (total)
$2.00B
Spent (derived)
$1.03B
Remaining
$970.00M
Spent Remaining

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.

Key facts CIK 1552000 CUSIP 55336V100 13F (30d) 537 filings 487 filers Visit website Investor relations